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Future Of The Military Retirement System
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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 Future of the Military Retirement System by : Donald E. Meisler
Download or read book Future of the Military Retirement System written by Donald E. Meisler and published by . This book was released on 2012 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are numerous current and future fiscal challenges facing the United States of America and the Department of Defense. Many hard decisions will be made in the near future. Critical for making the best decision(s) is being informed of all possible courses of action and their impacts at all levels. One of the highest costs in the Department of Defense is manpower costs and military pensions. The intent of this research project is to assess the fiscal and readiness impact of the current military retirement system and evaluate current proposals to adjust it to meet current and future budgetary and retention challenges. I will approach this evaluation from both a monetary standpoint and social and psychological perspectives. I will use a "life-course" approach on the human or social aspect of the military retirement system and the impact current and future changes could have to the recruitment, retention, and readiness of an all-volunteer force.
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.
Book Synopsis Modernizing Military Pay: The military estate program by : United States. Department of Defense
Download or read book Modernizing Military Pay: The military estate program written by United States. Department of Defense and published by . This book was released on 1967 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Department of Defense Retirement System for the Future by : Gary L. Jacobson
Download or read book A Department of Defense Retirement System for the Future written by Gary L. Jacobson and published by . This book was released on 2002-06-01 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current military retirement system has come under much scrutiny in recent years. Much off this scrutiny has been a result of the high cost of the system. Many studies have been undertaken in attempts to develop a retirement system for military personnel that would reduce the cost. Congress has acted several times in recent decades on these proposals. In all but one instance, the result has been lowering system costs by reducing retiree benefits, The goal of this study was to examine the objectives of the military retirement system for the purpose of determining if a retirement system could be developed that would lower system costs while simultaneously meeting the objectives of the current system and maintaining the retirees perceived retirement entitlements at their current level. The result of the study is a proposed multi-option retirement system for the military that is better aligned with the DoD retirement system objectives and reduces the system cost while simultaneously enhancing future retiree entitlement potential. The model costs and benefits are analyzed using a Monte Carlo type simulation model to more accurately predict future results and allow for analysis of various modifications to the proposal.
Book Synopsis A Framework for Restructuring the Military Retirement System by : Roy A. Wallace
Download or read book A Framework for Restructuring the Military Retirement System written by Roy A. Wallace and published by Army War College Press. This book was released on 2013 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current military retirement system has been integral to sustaining the All Volunteer Force (AVF). Mounting federal budget challenges, however, have raised concern that the program may become fiscally unsustainable. While several restructuring proposals have emerged, none have considered the implications of these changes to the broader issue of manning an AVF. Changes to the existing system could create military personnel shortfalls, adversely affect servicemember and retiree well-being, and reduce public confidence in the Armed Forces. With the right analytical framework in place, however, a more holistic system restructuring is possible, one that avoids these negative effects while significantly reducing costs. A comprehensive framework is provided, as well as a proposal that stands to benefit both servicemembers in terms of value and the military in terms of overall cost savings.
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.
Author :United States. Congress. Senate. Committee on Armed Services. Subcommittee on Manpower and Personnel Publisher : ISBN 13 : Total Pages :172 pages Book Rating :4.:/5 (51 download)
Book Synopsis Proposals to Change Military Retirement by : United States. Congress. Senate. Committee on Armed Services. Subcommittee on Manpower and Personnel
Download or read book Proposals to Change Military Retirement written by United States. Congress. Senate. Committee on Armed Services. Subcommittee on Manpower and Personnel and published by . This book was released on 1986 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Historical Analysis and Comparison of the Military Retirement System and the Federal Employee Retirement System by : Bruce R. Breth
Download or read book An Historical Analysis and Comparison of the Military Retirement System and the Federal Employee Retirement System written by Bruce R. Breth and published by . This book was released on 1998-06-01 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most significant change to private sector as well as civil service employee retirement systems over the past 15 years has been the transition from defined benefit to defined contribution retirement plans. This trend has shifted a significant portion of the risk involved in funding retirement from corporations and the federal government to employees. This thesis examines the military retirement system and the Civil Service Retirement System/Federal Employee Retirement System, from their introduction to present day, addressing the reasons for major changes during their evolution. Government studies, private studies, periodicals and Internet resources were consulted to identify significant developments and legislation affecting the military retirement system and Federal Employee Retirement System (FERS). While the retirement system for federal employees has transitioned from a strict defined benefit system to a system with a defined contribution element, the military retirement system has not yet incorporated a defined contribution component. The trend of persistent legislative attention towards the military retirement system implies that the 1980 and 1986 reductions didn't cut deep enough and future reductions are possible. The success of FERS suggests that the application of a defined contribution element to the current military retirement system is very likely in the future.
Book Synopsis Military Retirement by : Matthew T. Smith
Download or read book Military Retirement written by Matthew T. Smith and published by . This book was released on 2011 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States active-duty military force is subject to an active duty retirement system that requires modernization especially considering the financial challenges facing the Department of Defense. Additionally, the United States military continues to lose highly experienced and valuable personnel at early points during one's service. This project explores aspects to include a future military retirement system such as being governed under an ERISA type structure with main characteristics being the advocacy of member savings, adopting portable retirement benefits, allowing for earlier vesting, and expanding survivorship benefits. Further, this project advocates innovative military retirement reform that includes benefits servicemembers can select and can carry with them for the duration of their careers -- no matter what the length of their careers may be. Several recommendations, as a result of this research, include a modified defined benefit plan, rewarding servicemembers for serving in combat, an option for a defined contribution plan, bonuses targeted at yearly service milestones in one's career, and separation pay with concessions made to allow the service member, and their benefits, to continue to seamlessly transfer to the Guard or Reserve.
Author :United States. Congress. House. Committee on Armed Services. Subcommittee on Military Personnel Publisher : ISBN 13 : Total Pages :116 pages Book Rating :4.:/5 (319 download)
Book Synopsis Military Retirement Reform by : United States. Congress. House. Committee on Armed Services. Subcommittee on Military Personnel
Download or read book Military Retirement Reform written by United States. Congress. House. Committee on Armed Services. Subcommittee on Military Personnel and published by . This book was released on 2012 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 Twenty Years of Service by : Brandon J. Archuleta
Download or read book Twenty Years of Service written by Brandon J. Archuleta and published by University Press of Kansas. This book was released on 2020-08-06 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Military pension policies are as old as the republic itself and reside at the intersection of American social, economic, and defense policy. But as the nation’s social and economic circumstances underwent dramatic changes over the last half century, military pension policy remained static, stuck in the personnel and retirement model of the industrial age. This book examines why. Integrating policy history, theory, and practice, Twenty Years of Service provides the most comprehensive examination of US military pension policy in a generation. Brandon J. Archuleta sets the stage with an exploration of the rise, evolution, and transformation of the veterans’ policy subsystem from the American Revolution through World War II. The ensuing theoretical overview explains how the military personnel policy subsystem achieved the autonomy it enjoyed from 1948 to 2018; it also offers a new perspective on autonomous policy subsystems in general, which helps to account for the long-term pension policy stasis. In practical terms, Archuleta explores the role of the successful 2015 Military Compensation and Retirement Modernization Commission as an institutional venue for policy change during the congressional budget battles of the 2010s. Through extensive archival research, illustrative case studies, and field interviews with Pentagon bureaucrats, congressional staffers, veterans’ lobbyists, defense scholars, and journalists, Twenty Years of Service brings the policymaking process to life. Its insights will prove invaluable to policy scholars and defense practitioners alike.
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:
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 Evaluating the Military Retirement System by : Isaac Faber
Download or read book Evaluating the Military Retirement System written by Isaac Faber and published by . This book was released on 2015 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the U.S. Government moves into an era of fiscal responsibility, addressing national spending goes hand-in-hand with addressing the specific programs in place that accrue the greatest costs in the future. Reducing these expenses is paramount in dealing with the budget strategy and finding the means to make programs more efficient should be the forward focus. From the realm of National Defense, the Military Retirement System is a growing expenditure that threatens both current and future benefits for the Service Member it is designed to service. The issue is sensitive in that its stakeholders encompass the men and women of the U.S. Armed Forces, but simultaneously the growing costs threaten the strategic defense of the United States. This study looks to address the inefficiencies of the current Military Retirement System by evaluating which attributes of the retirement plan that the Service Member finds most attractive. Using Adaptive Choice-Based Conjoint Analysis a resourceful, unadorned surveying technique to evaluate the potential military retiree, this study demonstrates an effective methodology at evaluating consumer (the Service Member) preferences and provides an examination of potential policy changes to combat the growing financial dilemma.
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.
