Reforming the Military Retirement System
ARMY WAR COLL CARLISLE BARRACKS PA
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The U.S. military plays a vital role in implementing the National Security Strategy by providing a trained, equipped, and ready force which enables national leaders to call on it as an instrument of power. As the 21st century approaches, advances in technology and other capabilities are driving a fundamental transformation of our military forces and creating a need for personnel with a variety of highly specialized skills. Compensation plays an important role in enabling the military to sustain a trained and ready force. Congress enacted The Military Retirement Reform Act of l986 as a means to save money and induce more members to continue their service beyond 20 years, thereby giving us a more experienced and capable career force. Recently conducted surveys, however, cite great soldier dissatisfaction with todays retirement system. This study examines the current military retirement system and analyzes the feasibility of augmenting it with a savings plan similar to the 401k plan. This analysis of the military retirement system considers the criteria of cost, effect on retention, and ability to enhance personal financial stability.
- Personnel Management and Labor Relations
- Military Forces and Organizations