The Few, The Proud, The Potential Millionaires
MARINE CORPS COMMAND AND STAFF COLL QUANTICO VA
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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.
- Economics and Cost Analysis
- Personnel Management and Labor Relations
- Military Forces and Organizations