Author: Kyle R. Martin Publisher: ISBN: 9781423516552 Category : Military pensions Languages : en Pages : 191
Book Description
This research explores possible changes to the current military retirement system. The research contains a detailed explanation of the current military retirement system and its objectives; a summary of the history and past legislation affecting private sector pension plans and the military retirement system; and a discussion of major analytic studies of the military retirement system since 1969 and their impact on the current system. The costs and benefits of three alternatives to the current system are analyzed using a deterministic and stochastic analysis. These alternatives are based on benefit structure changes not explicitly reducing costs. System restructuring would change the emphasis from cutting benefits to keeping costs constant (or lower) with an equal (or greater) benefit level. This restructuring approach is based on three defined contribution options that have varied contribution percentages. The contribution percentages are designed to provide different levels of incentive for continued military service. The analysis demonstrates that each alternative is an attractive consideration for the DoD because the alternatives are aligned with the objectives of the military retirement system, cost the government less to administer, and provide greater benefit annuities to the service member.
Author: Mike Calvert Publisher: ISBN: Category : Languages : en Pages : 95
Book Description
The rising cost of the U.S. military retirement system has made it increasingly controversial over the last ten years. Consequently, several study groups have recommended changes designed to reduce costs. The President's Commission on Military Compensation (PCMC) recently recommended broad changes to the military retirement system but did not fully predict the effect of proposed changes on personnel retention. The author compared the estimated total annual cost of the present military retirement system with that of the PCMC under like conditions in order to determine if the PCMC proposal would reduce retirement costs. The retention rates expected by DOD analysts were used. The analysis indicated that the PCMC proposal would result in a cost reduction of 38 percent which is consistent with PCMC claims. The thesis also compares the historical background and current provisions of private, U.S. Social Security, and U.S. military retirement pensions. (Author).
Author: Beth J. Asch Publisher: Rand Corporation ISBN: 9780833015655 Category : Electronic book Languages : en Pages : 82
Book Description
Summarizes the authors' previously developed theoretical model of compensation in a large, hierarchical organization like the military that permits an analysis of the issues surrounding the design of military compensation. Presents an empirical version of that model and uses it to evaluate the current and alternative military retirement systems in terms of their implications for force structure, cost, and productivity (i.e., personnel effort and ability sorting); the implications for the current military compensation system, and the implications of several proposals (including several of the authors' own design) that change the structure of the military retirement system. The authors estimate that under certain circumstances the proposed systems would permit the Department of Defense to maintain forces at least as capable as today's at no higher cost.
Author: John Christian Publisher: Rand Corporation ISBN: 0833039873 Category : Business & Economics Languages : en Pages : 41
Book Description
By one estimate, between fiscal years 1995 and 2005, total compensation costs for current and former military personnel increased by almost 60 percent. The military retirement benefit remains a significant portion of these costs, and every change to accessions, retention, and basic pay today will have a future effect on pension expenditures. This technical report provides an overview of the history of U.S. military retirement studies and associated legislation, with a particular focus on the past 60 years of proposed reforms. It is organized around the following five major issues that have driven attempts at retirement system reform: cost, equity, selective retention, civilian comparability, and force management flexibility. The author finds that cost alone is reason to analyze the current retirement system, and reform proposals of the past have focused carefully on cost. However, he also finds that, as the military's mission evolves over time, it is also important to consider the sometimes subtle incentive effects that the retirement system has on service member behavior. Beyond considerations of cost, reform of the military retirement system necessarily involves ramifications for force structure and operational readiness.
Author: Carl J. Dahlman Publisher: Rand Corporation ISBN: 0833041517 Category : Political Science Languages : en Pages : 162
Book Description
This work presents a new method of estimating the cost of a military person-year that focuses on the actual cost of the retirement benefits that the federal government must provide to military personal, where previously available measures focused only on annual retirement-fund accrual costs. A major implication of this alternative calculus is that truly effective force management requires an increased focus on the cost of personnel.
Author: Beth J. Asch Publisher: ISBN: 9781977402387 Category : Employee retention Languages : en Pages : 115
Book Description
Analysis of the new Blended Retirement System (BRS) finds that it can sustain U.S. Army Reserve participation relative to the legacy system. The analysis also predicts continuation-pay cost and the percentage of reservists opting in to the BRS.
Author: Sharon Cekala Publisher: DIANE Publishing ISBN: 9780788178573 Category : History Languages : en Pages : 56
Book Description
Changes made to the design of many civilian retirement systems over the past 2 decades, along with increasing federal budget pressures, have focused attention on whether the military retirement system is best designed to efficiently meet the needs of the DoD and members of the military services. This report addresses: (1) military retirement costs, (2) the role of military retirement in shaping and managing U.S. forces, and (3) proposed changes to modernize the system and contribute to more efficient force management. Charts and tables.
Author: Charles A. Henning Publisher: DIANE Publishing ISBN: 1437939732 Category : Business & Economics Languages : en Pages : 18
Book Description
This is a print on demand edition of a hard to find publication. The military retirement system is a non-contributory, defined benefit system that has historically been viewed as a significant incentive in retaining a career military force. Congress grapples with constituent concerns as well as budgetary constraints when considering military retirement issues. While congressionally mandated changes to the military retirement system have been infrequent, any potential future changes are closely monitored by current and future retirees, and the vets¿ service org. who support them. Contents of this report: (1) Overview; (2) Three Systems, Different Retired Pay Calculations; (3) Retired Pay and the Cost-of-Living Allowance (COLA); (4) Military Retirement Budgeting and Costs; (5) Reforming the Military Retirement System. Tables.
Author: Beth J. Asch Publisher: Rand Corporation ISBN: 0833078100 Category : History Languages : en Pages : 196
Book Description
As the defense burden borne by reserve forces has increased, more attention has been paid to differences between retirement systems for the reserve and active components. This report analyzes the systems, discusses the importance of structuring compensation to enable management flexibility, considers obstacles and how they might be overcome, and provides a quantitative assessment of the reserve retention and cost effects of possible proposals.
Author: Jack D. Medlin Publisher: ISBN: Category : Retired military personnel Languages : en Pages : 50
Book Description
This study examines the current Military Retirement System in an effort to determine if changes should be made in it, and if so, what kind of changes and the consequences of such changes. An analysis was made of the President's Private Sector Survey on Cost Control findings to determine the differences between the Military Retirement System, the Civil Service Retirement System, and retirement systems from the private sector. Special emphasis was devoted to determining the real problem which has led to these benefits being challenged currently. Additional data furnished from the National LIfe Insurance Company of Montpelier, Vermont helps to identify cost savings of paying benefits at various times. The conclusion is that the Military Retirement System is indeed generous and should be modified to incorporate features that would replace long-term incentives with short-term incentives which, in future years would substantially reduce costs for the taxpayer. However, changes should not be made in the Military Retirement System without similar changes in other federal retirement systems.
Author: Kyle R. Martin
Author: Mike Calvert
Author: Beth J. Asch
Author: John Christian
Author: Carl J. Dahlman
Author: Beth J. Asch
Author: Sharon Cekala
Author: Charles A. Henning
Author: Beth J. Asch
Author: Jack D. Medlin