Retirement Effects

Postby unlikelyconvert » Fri Aug 19, 2011 1:30 am

OmegaMan wrote:I whole heartedly agree about your opinion on the grandfather clause. It's the sensible thing to do... but how often are politicians caught doing anything sensible.

If a retirement plan is inevitable, what about this. Keep a similar structure as today, but let folks retire at 10 years with 25% and cap it at 50% at 20 years. If you want to stick around and increase rank/pay, go for it. I wonder how the numbers would crunch then?


You would push out the LDO/CWO community immediately and lose the knowledge base and experience of those that do stay past 20. Why would anyone with 7 ships, 9 PCS deployments, a few "others" ever stay a day past 20 if he were not to be compensated accordingly.

I say have continuation boards at every flow point and every rank. Keep the best, the rest are chaff anyway.
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Postby yoshi » Fri Aug 19, 2011 1:44 am

Totally agree with continuation boards at every rank. There would still be a few getting through who shouldn't, but I think it would force people to perform in hard jobs rather than only when in front of their shore side rater.
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Postby OmegaMan » Fri Aug 19, 2011 12:43 pm

unlikelyconvert wrote:You would push out the LDO/CWO community immediately and lose the knowledge base and experience of those that do stay past 20. Why would anyone with 7 ships, 9 PCS deployments, a few "others" ever stay a day past 20 if he were not to be compensated accordingly.

I say have continuation boards at every flow point and every rank. Keep the best, the rest are chaff anyway.


This approach is the lesser of two evils. I am fine with the current system, but the likelihood that it survives past the next couple of years is low. Is there any incentive for someone to stick around under the proposed system? Perhaps the folks that are able to cruise from shore command to shore command for an entire career. But you will be hard pressed to find anyone willing to take sea or unaccompanied tours.
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Postby Schlag » Sat Aug 20, 2011 5:11 pm

I really don't understand what's going on. If you followed the news in May/June, SECDEF and other analysts were complaining that there is very little incentive to keep people past 20yrs. Now we're talking about offering 401k-like option to everyone. If you do that, you provide very little incentive to go career.

On top of it, you give people every reason to pull chalks and get out because of the post-9/11 GI Bill. Even service academy graduates are eligible after 8yrs of total service.

Another thing that infuriates me is civil service has TSP w/ matching contributions coupled with FERS. Everything that I've seen makes it sound like the military would only get TSP. Yet another reason to jump ship after an initial term. Get your TSP started, then jump ship, get a GS job doing the same exact thing you were doing with matching contributions and FERS after you make a 3% salary deposit. Not to mention you get time served....

....I feel like everyone has "do-something" syndrome and it's only going to lead to short-sighted decisions....
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Postby Sum1 » Sat Aug 20, 2011 6:00 pm

The replacement plan to the 20 year retirement system includes a TSP (essentially a 401k) with government matching of funds. You are correct, though, that civilian TSPs have always had matching contributions.

Considering my background/level of education I wouldn't be uncomfortable at all to brave the current job market. At least I could move wherever I wanted, whenever I wanted, and be with my family on my own terms. I would bet that many other JOs/mid-grade enlisted would be in the same boat. What incentive is there for a 10 year Chief to stick around when they could be getting paid double to do the same job?
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Postby webmaster » Sat Aug 20, 2011 7:59 pm

Here are some comments from the SECDEF. Looks like no changes for those currently serving

http://www.defense.gov/news/newsarticle.aspx?id=65089
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Postby jitter » Sat Aug 20, 2011 10:51 pm

webmaster wrote:Here are some comments from the SECDEF. Looks like no changes for those currently serving

http://www.defense.gov/news/newsarticle.aspx?id=65089


Its nice to see the SECDEF and other high-level people in the DoD weigh-in on this important subject but, the fact is that they do not make the laws in this country, Congress does. Congress does not need the support of the DoD to make changes to Title 10.

So the people we need to hear from are once again on vacation. :rolleyes:
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Postby yingxuy » Mon Nov 28, 2011 4:10 am

If you put all the way to 15 years of service, what people like myself are 10-11 years old? I know I will quit my letter of resignation can be approved immediately.
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