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Author: Committee on Committee on Armed Services United States Senate Publisher: CreateSpace ISBN: 9781512017649 Category : Languages : en Pages : 118
Book Description
The Bipartisan Budget Act (BBA) of 2013 included a provision that reduced the cost-of-living adjustments (COLA) for working age military retirees by 1 percent until the retiree reaches the age of 62, at which time retired pay is adjusted to the level it would have been had the COLA not been reduced. In a USA Today column defending the legislation, Congressman Paul Ryan explained the provision as follows: "We make no changes for those currently at or above age 62. This reform affects only younger military retirees. Right now any person who has served 20 years can retire regardless of age. That means a serviceman who enlists at 18 becomes eligible for retirement at 38." The Consolidated Appropriations Act amended the BBA to exempt disability retirees and their survivors from the COLA reduction. The COLA reduction is wrong because it targets a single group, military retirees, to help address the budget problems of the Federal Government as a whole. While reforms have been made to the Federal civilian pension, those changes applied prospectively to new employees. By contrast, this change to military pensions will apply upon implementation to current retirees, their families, and survivors.
Author: Committee on Committee on Armed Services United States Senate Publisher: CreateSpace ISBN: 9781512017649 Category : Languages : en Pages : 118
Book Description
The Bipartisan Budget Act (BBA) of 2013 included a provision that reduced the cost-of-living adjustments (COLA) for working age military retirees by 1 percent until the retiree reaches the age of 62, at which time retired pay is adjusted to the level it would have been had the COLA not been reduced. In a USA Today column defending the legislation, Congressman Paul Ryan explained the provision as follows: "We make no changes for those currently at or above age 62. This reform affects only younger military retirees. Right now any person who has served 20 years can retire regardless of age. That means a serviceman who enlists at 18 becomes eligible for retirement at 38." The Consolidated Appropriations Act amended the BBA to exempt disability retirees and their survivors from the COLA reduction. The COLA reduction is wrong because it targets a single group, military retirees, to help address the budget problems of the Federal Government as a whole. While reforms have been made to the Federal civilian pension, those changes applied prospectively to new employees. By contrast, this change to military pensions will apply upon implementation to current retirees, their families, and survivors.
Author: United States Congress Publisher: Createspace Independent Publishing Platform ISBN: 9781981587872 Category : Languages : en Pages : 118
Book Description
Recent changes to the U.S. military retirement system : hearing before the Committee on Armed Services, United States Senate, One Hundred Thirteenth Congress, second session, January 28, 2014.
Author: United States. Congressional Budget Office Publisher: ISBN: Category : Military pensions Languages : en Pages : 96
Book Description
'The New Politics of Race' brings together Winant's new and previously published essays to form a comprehensive picture of the origins and nature of the complex racial politics that engulf us today.
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: 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: Congressional Service Publisher: Createspace Independent Publishing Platform ISBN: 9781720627616 Category : Languages : en Pages : 26
Book Description
The military retirement system is a government-funded, noncontributory, defined benefit system that has historically been viewed as a significant incentive in retaining a career military force. The system currently includes monthly compensation for qualified active and reserve retirees, disability benefits for those deemed medically unfit to serve, and a survivor annuity program for the eligible survivors of deceased retirees. The amount of compensation is dependent on time served, basic pay at retirement, and annual Cost-of-Living-Adjustments (COLAs). Military retirees are also entitled to nonmonetary benefits including exchange and commissary privileges, medical care through TRICARE, and access to Morale, Welfare and Recreation (MWR) facilities and programs. Currently, active component personnel are eligible for retirement (i.e., vested) after completing 20 years of service (YOS). Reserve personnel are eligible for retirement after 20 years of creditable service based on a points system, but do not typically begin to draw retirement pay until age 60. A third category of retirement is disability retirement. In FY2016, approximately $57 billion was paid to 2.3 million military retirees and survivors. Given the size of the program, some have viewed military retirement as a place where substantial budgetary savings could be made. However, others have argued that past modifications intended to save money have had a deleterious effect on military recruiting and retention. Military retirees, families, and veterans' service organizations closely monitor potential changes to the retirement system. When considering alternatives to the current system, Congress may choose to consider the balance between military retirement system as a retention incentive, budget constraints, and the needs and concerns of their constituents.
Author: Roy A. Wallace Publisher: ISBN: Category : Military pensions Languages : en Pages : 52
Book Description
The current military retirement system has been integral to sustaining the All Volunteer Force (AVF). Mounting federal budget challenges, however, have raised concern that the program may become fiscally unsustainable. While several restructuring proposals have emerged, none have considered the implications of these changes to the broader issue of manning an AVF. Changes to the existing system could create military personnel shortfalls, adversely affect servicemember and retiree well-being, and reduce public confidence in the Armed Forces. With the right analytical framework in place, however, a more holistic system restructuring is possible, one that avoids these negative effects while significantly reducing costs. A comprehensive framework is provided, as well as a proposal that stands to benefit both servicemembers in terms of value and the military in terms of overall cost savings.
Author: Committee on Committee on Armed Services United States Senate
Author: Committee on Committee on Armed Services United States Senate
Author: United States Congress
Author: United States. Congress. Senate. Committee on Armed Services
Author: United States. Congressional Budget Office
Author: United States. Congress. Senate. Committee on Armed Services
Author: Sharon Cekala
Author: Charles A. Henning
Author: John Christian
Author: Congressional Service
Author: Roy A. Wallace