Military retirement recomendations

[Maverick]

For those in now, those thinking about a career or those on the bubble about joining, here are some things to consider.

There are some serious changes being recommended that would mean that if you retire you'll have to wait until you are 59 to see any of it. Think of it, you put your butt on the line for 20 to 28 years (28 years of service = mandatory retirement point with 32 years for senior rank or critical specialties) and when you get out you WILL have to make sure you have a job to survive since you will have to be 59 or 60 to collect it. If you go in at 18 and go 28 years you'll still be only 46. That's a long time to wait to get the retirement you earned with your service. If you are selected to extend to 32 you'll still have to wait 9 or so years to get it. Oh and BTW the dates for separation won't change so if you want to stay in until you can draw pay, fuhgeddaboutit. Welcome to the Reserves retirement plan.

In addition to that the first link indicates that your medical coverage plan costs to you may be going up significantly particularly if you are not eligible for medicare.

These items are explained in the links provided. These changes will be put on the desk of congress to approve or not. Think about your buddies up there in Washington in the halls of congress and how much they care about you. I'd suggest you contact them and let them know how you feel.

IMO this is a travesty and an outstanding example of how to screw the troops. Why bother to stay in for a career with this kind of retirement "plan".

Link 1 with medical info:
http://www.military.com/features/0,15240,173279,00.html?ESRC=retirees.nl

Link 2 with more detailed info about the retirement "benefits". I like the bit showing that a low percentage of folks ever see retirement but they never explain how they got the numbers . If less than 50% of Officers and 15% of Enlisted go to retirement what did they expect? You have to finish the career or be retired to gain the benefit.

http://www.military.com/news/article/panel-recommendations-for-retirement.html

[Elfie]

They have been trying to screw with military retirement since at least the mid '80s Mav and probably earlier. So far nothing has passed.

[Grayeagle]

ROFL .. if yer in the service for the money ..
.. it aint happenin.

Duty, Honor, Country.

For me that ended at 13 years and 6 months in.
The week I got out I was makin more than my C.O..
..had 3 solid choices with offers already interviewed for and all just waitin for seperation date and my decision on which to pursue.

More power to those who can make it 20..
..means you dodge land mines and career azzhats and manage to fill some of the right squares,
..wtg.

It is not worth it.. IMHO.

-GE (dont get me started .. grr)
(still remember bein told not to wear uniform downtown on return from Southeast Asia..among other things)

[Chalenge]

Congress would love to turn military retirement into a form of social security. The bet has always been that you wont live to retire and now that people are living longer they just move the date further back.

Its a scam and the best way to retire is to control your own money. You would be a lot wealthier if you had the withholdings to invest but instead when you reach what Congress calls retirement age that money will be long gone.