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Author: U S Government Accountability Office (G
Publisher: BiblioGov
ISBN: 9781289149253
Category :
Languages : en
Pages : 86
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Book Description
Members of the Armed Forces can retire at any age after 20 years of service. The Department of Defense (DOD) justifies this length of service as necessary to retain a young and vigorous force and attract and retain servicemen. DOD uses a competitive promotion system which precludes most military members from serving full careers and must, by law, retire officers who have been passed over for promotion or who reach a certain age. Since their careers could end in the middle of their potential worklife, DOD believes military members need the assurance of early retirement benefits. In fiscal year 1975, officers retired at an average age of 46 after about 24 years of service, and enlisted personnel retired at an average age of 41 after approximately 21 years of service. Most fiscal year 1975 retirees' career time was spent in occupations not demanding exceptional youth and vigor. In fact, 81 percent of the enlisted member retirees and 30 percent of the officers spent their entire careers in non-combat-related occupations. The 20-year retirement provision should be discontinued for many military personnel in occupations not demanding exceptional youth and vigor. Twenty-year retirement, in conjunction with present personnel management policies, is an inefficient means of attracting new members, causes the services to retain more members than are needed up to the 20-year point, provides too strong an incentive for experienced personnel to leave after serving 20 years, and makes it impossible for the vast majority of members to serve full careers.
Author: U S Government Accountability Office (G
Publisher: BiblioGov
ISBN: 9781289149253
Category :
Languages : en
Pages : 86
Get Book Here
Book Description
Members of the Armed Forces can retire at any age after 20 years of service. The Department of Defense (DOD) justifies this length of service as necessary to retain a young and vigorous force and attract and retain servicemen. DOD uses a competitive promotion system which precludes most military members from serving full careers and must, by law, retire officers who have been passed over for promotion or who reach a certain age. Since their careers could end in the middle of their potential worklife, DOD believes military members need the assurance of early retirement benefits. In fiscal year 1975, officers retired at an average age of 46 after about 24 years of service, and enlisted personnel retired at an average age of 41 after approximately 21 years of service. Most fiscal year 1975 retirees' career time was spent in occupations not demanding exceptional youth and vigor. In fact, 81 percent of the enlisted member retirees and 30 percent of the officers spent their entire careers in non-combat-related occupations. The 20-year retirement provision should be discontinued for many military personnel in occupations not demanding exceptional youth and vigor. Twenty-year retirement, in conjunction with present personnel management policies, is an inefficient means of attracting new members, causes the services to retain more members than are needed up to the 20-year point, provides too strong an incentive for experienced personnel to leave after serving 20 years, and makes it impossible for the vast majority of members to serve full careers.
Author: United States. General Accounting Office
Publisher:
ISBN:
Category :
Languages : en
Pages : 73
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Book Description
Author: United States Accounting Office (GAO)
Publisher: Createspace Independent Publishing Platform
ISBN: 9781721934942
Category :
Languages : en
Pages : 84
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Book Description
The 20-Year Military Retirement System Needs Reform
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Military pensions
Languages : en
Pages : 73
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Book Description
Author: John Christian
Publisher: Rand Corporation
ISBN: 0833039873
Category : Business & Economics
Languages : en
Pages : 41
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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: Brandon J. Archuleta
Publisher: University Press of Kansas
ISBN: 0700629769
Category : History
Languages : en
Pages : 280
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Book Description
Military pension policies are as old as the republic itself and reside at the intersection of American social, economic, and defense policy. But as the nation’s social and economic circumstances underwent dramatic changes over the last half century, military pension policy remained static, stuck in the personnel and retirement model of the industrial age. This book examines why. Integrating policy history, theory, and practice, Twenty Years of Service provides the most comprehensive examination of US military pension policy in a generation. Brandon J. Archuleta sets the stage with an exploration of the rise, evolution, and transformation of the veterans’ policy subsystem from the American Revolution through World War II. The ensuing theoretical overview explains how the military personnel policy subsystem achieved the autonomy it enjoyed from 1948 to 2018; it also offers a new perspective on autonomous policy subsystems in general, which helps to account for the long-term pension policy stasis. In practical terms, Archuleta explores the role of the successful 2015 Military Compensation and Retirement Modernization Commission as an institutional venue for policy change during the congressional budget battles of the 2010s. Through extensive archival research, illustrative case studies, and field interviews with Pentagon bureaucrats, congressional staffers, veterans’ lobbyists, defense scholars, and journalists, Twenty Years of Service brings the policymaking process to life. Its insights will prove invaluable to policy scholars and defense practitioners alike.
Author: Committee on Committee on Armed Services United States Senate
Publisher: CreateSpace
ISBN: 9781512017649
Category :
Languages : en
Pages : 118
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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:
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Military retirement reform has been a central element of the policy debate regarding why and how to restructure the system for compensating members of the U.S. armed forces. Concerns about the compensation system, and the retirement system specifically, include the rising cost of military compensation and the need for greater efficiency in the provision of compensation, the greater need for flexibility to reshape the force as missions change in ways that challenge the current compensation system, and issues related to the equity of military retirement benefits of active versus reserve personnel, junior versus senior personnel, and military personnel versus their civilian counterparts. Active members can claim retirement benefits before reservists can; junior members who leave prior to completing 20 years of service do not qualify for retirement benefits, unlike their more senior counterparts; and the 20-year vesting rule is outside the civilian vesting norm of 5-7 years of service, under the Employee Retirement Income Security Act of 1974 (ERISA). The 10th Quadrennial Review of Military Compensation (QRMC), building on previous studies and commission reports, including the 2006 report of the Defense Advisory Committee on Military Compensation (DoD, 2006) and the 2000 report of the Defense Science Board Task Force on Human Resources Strategy, has proposed an alternative military retirement system that addresses concerns regarding the current system while still sustaining the force. The defined benefit (DB) and defined contribution (DC) plans are the foundation of the alternative system considered in this analysis. RAND was asked to develop a modeling capability to assess compensation alternatives, such as the QRMC proposal, in terms of their effects on military retention, retirement behavior, vesting, cost, reserve participation, and the value of compensation from the perspective of the member leaving active duty. This monograph presents the results of that study.
Author: Samuel Pienknagura
Publisher: International Monetary Fund
ISBN: 151359611X
Category : Business & Economics
Languages : en
Pages : 52
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Book Description
Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.
Author: Mr.Benedict J. Clements
Publisher: International Monetary Fund
ISBN: 147556631X
Category : Business & Economics
Languages : en
Pages : 86
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Book Description
Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.