Accession Number ADA560224
Title Military Retirement: Reform for the 21st Century Force.
Publication Date Mar 2011
Media Count 36p
Personal Author M. T. Smith
Abstract The United States active-duty military force is subject to an active duty retirement system that requires modernization especially considering the financial challenges facing the Department of Defense. Additionally, the United States military continues to lose highly experienced and valuable personnel at early points during one s service. This project explores aspects to include a future military retirement system such as being governed under an ERISA type structure with main characteristics being the advocacy of member savings, adopting portable retirement benefits, allowing for earlier vesting, and expanding survivorship benefits. Further, this project advocates innovative military retirement reform that includes benefits servicemembers can select and can carry with them for the duration of their careers no matter what the length of their careers may be. Several recommendations, as a result of this research, include a modified defined benefit plan, rewarding servicemembers for serving in combat, an option for a defined contribution plan, bonuses targeted at yearly service milestones in one s career, and separation pay with concessions made to allow the service member, and their benefits, to continue to seamlessly transfer to the Guard or Reserve.
Keywords Active duty
Benefits
Bonuses
Finance
Military personnel
Retirement(Personnel)
Salaries
Separation


 
Source Agency Non Paid ADAS
NTIS Subject Category 96 - Business & Economics
70D - Personnel Management, Labor Relations & Manpower Studies
88D - Personnel
92A - Job Training & Career Development
Corporate Author Army War Coll., Carlisle Barracks, PA.
Document Type Technical report
Title Note Strategy Research Project.
NTIS Issue Number 1221
Contract Number N/A

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