Accession Number:

ADA508055

Title:

The Few, The Proud, The Potential Millionaires

Descriptive Note:

Research paper

Corporate Author:

MARINE CORPS COMMAND AND STAFF COLL QUANTICO VA

Personal Author(s):

Report Date:

2008-02-19

Pagination or Media Count:

12.0

Abstract:

In this Contemporary Issues Paper, the author proposes that Marines should be automatically enrolled into the Life Cycle L fund of the Thrift Savings Plan TSP upon arrival to The Basic School TBS or recruit training to promote retirement savings at a young age, have inertia work for them, and establish effective budgeting from the start. Automatically enrolled Marines would have 3 of their basic pay automatically contributed as soon as they began service, and would have 90 days to stop the contributions and get a penalty-free refund if they did not want to continue participating. An additional 1 of their basic pay would be automatically contributed each year, to a maximum of 6. Increases beyond 6 would need to be made by the Marine personally.

Subject Categories:

  • Economics and Cost Analysis
  • Personnel Management and Labor Relations
  • Military Forces and Organizations

Distribution Statement:

APPROVED FOR PUBLIC RELEASE