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Funding The Military Retirement System
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Book Synopsis A Policymaker's Guide to Accrual Funding of Military Retirement by : William Michael Hix
Download or read book A Policymaker's Guide to Accrual Funding of Military Retirement written by William Michael Hix and published by RAND Corporation. This book was released on 1997 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1985, military retirement has been funded prospectively on an accrual basis. A recommended change to service-specific imputations of normal cost would result in lower funding by the Army, Navy, and Marine Corps, and increased funding by the Air Force.
Book Synopsis The Accrual Method for Funding Military Retirement: Assessment and Recommended Changes by :
Download or read book The Accrual Method for Funding Military Retirement: Assessment and Recommended Changes written by and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Until 1984, the amount appearing in the DoD budget under "military retirement" was the annual payment to retired military personnel or their survivors--equaling approximately $16 billion that year. That amount reflected the number of retirees and the retirement system that resulted from force-management decisions made 20 or more years earlier. Those managing the personnel force in 1984 essentially had no control over these retirement-budget payments. Similarly, force managers in 1984 could make decisions influencing future retirement expenditures without answering for them in their own budgets. Policymakers were concerned that this system could result in increasingly expensive retirement plans, a more senior force, more retirees than justified by force-readiness considerations, and poor decisions involving substitution of civilian and military personnel and between capital and labor investments.
Book Synopsis Funding the Military Retirement System: A Private Sector Investment Approach to Accrual Accounting by : Eugene H. Henry
Download or read book Funding the Military Retirement System: A Private Sector Investment Approach to Accrual Accounting written by Eugene H. Henry and published by . This book was released on 1987 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: The military retirement system is frequently a candidate for budget cuts. Most cost-cutting proposals and legislative actions have been aimed at the benefit structure of the retirement system. However, Public Law 98-94, enacted on October 1, 1984, addresses the funding aspect of the military retirement system. The law, which established accrual accounting and a military retirement fund, ensures immediate recognition of the future costs of the retirement system when considering any force size changes and pay changes for DOD. To pay for these future costs, the retirement system partially relies on the investment of excess retirement funds in special interest Treasury securities. This research concerns the investment aspect of accrual accounting, in particular, the possibility of investing the military retirement fund in the private sector instead of the within the government. To accomplish this macro-level research, it is necessary to determine representative private investment plans. The real interest returns of the plans, as determined by several factors such the management of the fund, inflation, and debt implications, are compared to the real return currently assumed by the DOD office of the Actuary for the special issue securities.
Book Synopsis Military Retirement by : Charles A. Henning
Download or read book Military Retirement written by Charles A. Henning and published by DIANE Publishing. This book was released on 2011 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a print on demand edition of a hard to find publication. The military retirement system is a non-contributory, defined benefit system that has historically been viewed as a significant incentive in retaining a career military force. Congress grapples with constituent concerns as well as budgetary constraints when considering military retirement issues. While congressionally mandated changes to the military retirement system have been infrequent, any potential future changes are closely monitored by current and future retirees, and the vets¿ service org. who support them. Contents of this report: (1) Overview; (2) Three Systems, Different Retired Pay Calculations; (3) Retired Pay and the Cost-of-Living Allowance (COLA); (4) Military Retirement Budgeting and Costs; (5) Reforming the Military Retirement System. Tables.
Book Synopsis The Accrual Method for Funding Military Retirement by : Richard Eisenman
Download or read book The Accrual Method for Funding Military Retirement written by Richard Eisenman and published by RAND Corporation. This book was released on 2001 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: Until 1984, the amount appearing in the DoD budget under "military retirement" was the annual payment to retired military personnel or their survivors--equaling approximately $16 billion that year. That amount reflected the number of retirees and the retirement system that resulted from force-management decisions made 20 or more years earlier. Those managing the personnel force in 1984 essentially had no control over these retirement-budget payments. Similarly, force managers in 1984 could make decisions influencing future retirement expenditures without answering for them in their own budgets. Policymakers were concerned that this system could result in increasingly expensive retirement plans, a more senior force, more retirees than justified by force-readiness considerations, and poor decisions involving substitution of civilian and military personnel and between capital and labor investments.
Book Synopsis Military Retirement by : Sharon Cekala
Download or read book Military Retirement written by Sharon Cekala and published by DIANE Publishing. This book was released on 1999-05 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changes made to the design of many civilian retirement systems over the past 2 decades, along with increasing federal budget pressures, have focused attention on whether the military retirement system is best designed to efficiently meet the needs of the DoD and members of the military services. This report addresses: (1) military retirement costs, (2) the role of military retirement in shaping and managing U.S. forces, and (3) proposed changes to modernize the system and contribute to more efficient force management. Charts and tables.
Author :Congressional Service Publisher :Createspace Independent Publishing Platform ISBN 13 :9781720627616 Total Pages :26 pages Book Rating :4.6/5 (276 download)
Book Synopsis Military Retirement by : Congressional Service
Download or read book Military Retirement written by Congressional Service and published by Createspace Independent Publishing Platform. This book was released on 2018-06 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The military retirement system is a government-funded, noncontributory, defined benefit system that has historically been viewed as a significant incentive in retaining a career military force. The system currently includes monthly compensation for qualified active and reserve retirees, disability benefits for those deemed medically unfit to serve, and a survivor annuity program for the eligible survivors of deceased retirees. The amount of compensation is dependent on time served, basic pay at retirement, and annual Cost-of-Living-Adjustments (COLAs). Military retirees are also entitled to nonmonetary benefits including exchange and commissary privileges, medical care through TRICARE, and access to Morale, Welfare and Recreation (MWR) facilities and programs. Currently, active component personnel are eligible for retirement (i.e., vested) after completing 20 years of service (YOS). Reserve personnel are eligible for retirement after 20 years of creditable service based on a points system, but do not typically begin to draw retirement pay until age 60. A third category of retirement is disability retirement. In FY2016, approximately $57 billion was paid to 2.3 million military retirees and survivors. Given the size of the program, some have viewed military retirement as a place where substantial budgetary savings could be made. However, others have argued that past modifications intended to save money have had a deleterious effect on military recruiting and retention. Military retirees, families, and veterans' service organizations closely monitor potential changes to the retirement system. When considering alternatives to the current system, Congress may choose to consider the balance between military retirement system as a retention incentive, budget constraints, and the needs and concerns of their constituents.
Book Synopsis An Overview of Past Proposals for Military Retirement Reform by : John Christian
Download or read book An Overview of Past Proposals for Military Retirement Reform written by John Christian and published by Rand Corporation. This book was released on 2006 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: By one estimate, between fiscal years 1995 and 2005, total compensation costs for current and former military personnel increased by almost 60 percent. The military retirement benefit remains a significant portion of these costs, and every change to accessions, retention, and basic pay today will have a future effect on pension expenditures. This technical report provides an overview of the history of U.S. military retirement studies and associated legislation, with a particular focus on the past 60 years of proposed reforms. It is organized around the following five major issues that have driven attempts at retirement system reform: cost, equity, selective retention, civilian comparability, and force management flexibility. The author finds that cost alone is reason to analyze the current retirement system, and reform proposals of the past have focused carefully on cost. However, he also finds that, as the military's mission evolves over time, it is also important to consider the sometimes subtle incentive effects that the retirement system has on service member behavior. Beyond considerations of cost, reform of the military retirement system necessarily involves ramifications for force structure and operational readiness.
Download or read book Funding Military Retirement written by and published by . This book was released on 1997 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many years, the Defense Department funded military retirement on a 'pay-as-you-go' basis, estimating how much money was needed to write checks for current retirees and adding that amount to the budget. This system worked well as far as paying retirees went, but it did not hold policymakers fiscally responsible for today's decisions affecting the size of the future retirement bill, e.g., increasing the force size. To promote better management, in 1984, Congress directed a switch to an accrual method of funding retirement. Under this procedure, each year the services transfer into a fund the amount necessary to pay for future retirements. The amount transferred is a percentage of the service's basic pay. Thus, if a service implements policies that affect the future value of retirement benefits, it sees the budgetary consequences of that decision immediately in the form of an increase in the amount transferred to the retirement fund. Analysis by Arroyo Center researchers William Hix and William Taylor, reported in A Policymaker's Guide to Accrual Funding of Military Retirement, suggests that the current procedures do not fully capture the intent of the legislation and that changes could eventually save the Army as much as $5-6 billion annually.
Book Synopsis Budgeting and Investing in the Military Retirement Fund by : Samuel J. Smithers
Download or read book Budgeting and Investing in the Military Retirement Fund written by Samuel J. Smithers and published by . This book was released on 1993 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Military Retirement Fund (MRF) was established in 1984 and accrual accounting procedures were adopted to manage it. Prior to 1984, military retirement was funded on a 'pay-as-you-go' basis, meaning that annual appropriations from general revenues or borrowing were used to cover retirees' pensions. This thesis reviews the developments which led to the establishment of the MRF, the mechanics of the accrual accounting procedures, the procedures followed by Congress in budgeting for the MRF, and the investment plan and the securities chosen for investment of MRF funds. While the Military Retirement Fund and its accrual accounting system are not highly visible components of the DoD budgetary and funding process, their impact on retired military personnel, the DoD budget and the national debt is significant. In addition, the Military Retirement Fund and accrual accounting were instrumental in paving the way for the reform of military retirement benefits in FY 1986. An understanding of this system and the unique problems that it presents provides a valuable contribution to further understanding of the defense budget and its treatment within the congressional budget process.
Book Synopsis The Military Retirement System by : United States. Congressional Budget Office
Download or read book The Military Retirement System written by United States. Congressional Budget Office and published by . This book was released on 1978 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'The New Politics of Race' brings together Winant's new and previously published essays to form a comprehensive picture of the origins and nature of the complex racial politics that engulf us today.
Author :United States. Congress. House. Committee on Armed Services. Subcommittee on Military Compensation Publisher : ISBN 13 : Total Pages :152 pages Book Rating :4.0/5 (18 download)
Book Synopsis Preliminary Review of Military Retirement Systems by : United States. Congress. House. Committee on Armed Services. Subcommittee on Military Compensation
Download or read book Preliminary Review of Military Retirement Systems written by United States. Congress. House. Committee on Armed Services. Subcommittee on Military Compensation and published by . This book was released on 1978 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on the Budget. Task Force on Entitlements, Uncontrollables, and Indexing Publisher : ISBN 13 : Total Pages :190 pages Book Rating :4.:/5 (327 download)
Book Synopsis Military Retirement System by : United States. Congress. House. Committee on the Budget. Task Force on Entitlements, Uncontrollables, and Indexing
Download or read book Military Retirement System written by United States. Congress. House. Committee on the Budget. Task Force on Entitlements, Uncontrollables, and Indexing and published by . This book was released on 1983 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Accrual Accounting for Military Retirement by : Marvin M. Smith
Download or read book Accrual Accounting for Military Retirement written by Marvin M. Smith and published by . This book was released on 1983 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Administration and Regulation of a Military Retirement System Funded by Private Sector Investments by : Audree D. Newman
Download or read book Administration and Regulation of a Military Retirement System Funded by Private Sector Investments written by Audree D. Newman and published by . This book was released on 1990 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this study was to investigate investment of military retirement system (MRS) funds in the private sector, as opposed to the current method of investing the funds within the Government, between 1985 and 1989, under assumptions of administrative and regulatory constraints; the timeframe was selected because in 1985 the Government began setting aside funds for future military retirement costs versus the pay-as-you-go method in previous years. The study had three objectives: (1) identify administrative factors that result from modifying the current MRS to an MRS funded by private sector investments; (2) identify regulatory constraints that could apply to the investment of military retirement funds in the private sector; (3) evaluate the MRS flow of funds under several investment plans that reflect assumptions of administrative and regulatory constraints. Administrative assumptions were based on the Federal Employee Thrift Savings Plan; regulatory assumptions were based on life insurance fund and private pension fund regulations. The results from analyzing the MRS flow of funds suggested that between fiscal years 1985 to 1989, a stock index plan, and to a lesser extent, a corporate bond index plan, improved the cumulative investment returns of the MRS fund; the price for this improvement was periods of volatility resulting in short term losses on investment returns as the current MRS investment approach with no volatility. Theses. (sdw).
Book Synopsis Funding the Military Retirement System by : Eugene H. Henry (CAPT, USAF.)
Download or read book Funding the Military Retirement System written by Eugene H. Henry (CAPT, USAF.) and published by . This book was released on 1987 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Military Guide to Financial Independence and Retirement by : Doug Nordman
Download or read book The Military Guide to Financial Independence and Retirement written by Doug Nordman and published by . This book was released on 2011-06-16 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: You don't have to pursue another career in government or the corporate world once you leave the military. Indeed, if you understand your key military benefits as well as fine-tune your finances, you should be able to chart a new arid exciting post-military life! That's the central message running throughout this revealing book for servicemembers, veterans, and their families who want to become financially independent prior to committing themselves to full-time retirement and plan accordingly. Semi-retired at age 41 and enjoying life with his family on the beaches of Hawaii, the author outlines how military personnel can become happily semi-retired regardless of their age. Emphasizing the importance of family, lifestyle, and bridge careers, Doug Nordman goes a long Way in providing answers to one of today's most important questions for transitioning military - ôWhat do you want to do with the rest of your life?ö Dispelling numerous myths about military transition, finances, and retirement. He focuses on the two most important inflation-protected benefits military retirees and their families receive and can build upon for creating a financially independent and semi-retired lifestyle: military pension TRICARE health system He shows how to build a sound financial house based upon: military benefits investment portfolios part-time work savings bridge careers frugal living Filled with examples checklists, recommended websites, and a rich collection of appendices that deal with inflation, multiple income streams, and the value of a military, pension, this ground-breaking book is essential reading for anyone contemplating retiring from the military or jump-starting their post-military career in the direction of semi-retirement and/or full-time retirement Book jacket.
