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| Report: Obama Supports Military Retirement Pay Cuts |
| 2015-03-31 |
| President Barack Obama said Monday that he supports the idea of reducing military retirement pay by about 20 percent. According to the Washington Times, Obama wrote a letter to congressional leaders saying he favors the recommendations put forth by a military commission. Under the plan, troops serving at least 20 years would not be affected and would continue to receive full retirement benefits. Those serving less than 20 years, however, would have their retirement checks slashed by about 20 percent. They must have changed the rules. Back in the Upper Paleolithic twenty was the minimum. Unless he's talking about medical retirements? In that case he's an even rattier busturd than even I thought. |
| Posted by:Hupineger Glomomp52169 |
| #3 Regime Bureau of Public Relations distraction. Taunting the little people. File under 'DoD enlistment - Lifting of drug testing.' |
| Posted by: Besoeker 2015-03-31 09:24 |
| #2 Under the plan, troops serving at least 20 years would not be affected and would continue to receive full retirement benefits. Those serving less than 20 years, however, would have their retirement checks slashed by about 20 percent. The 'formula' for retirement is 2.5 percent per year towards retirement. 20 years x 2.5 percent is 50 percent. Slashing that by .5 percent to 2 percent makes it 40 percent for 20 years or a "20 percent" reduction. The to receive full retirement benefits is the misrepresentation (aka lie) in this case. They played that game before in the late 80s, reducing retirement computation from 2.5 to 2 percent a year. It resulted in middle grade officers and enlisted disappearing at about the 12 year mark as they took their skills (with much prompting by the senior retention officer - aka mom) out to civilian market. By the mid-90s Congress restored the old 2.5 percent to the formula in order to stem the hemorrhage of trained and skilled personnel. |
| Posted by: Procopius2k 2015-03-31 06:55 |
| #1 Someone is blowing smoke here, the Administration, the reporters, or both. Remember these are the people who call military equipment such as armored personnel carriers and self propelled artillery vehicles tanks. Those serving less than 20 years, however, would have their retirement checks slashed by about 20 percent. On the other hand, the proposal would help boost troops' retirement savings accounts, as the Department of Defense would contribute up to 6 percent of a soldier's basic pay for those serving more than two years. Under the current system, the Defense Department automatically contributes 1 percent. As noted, there is no less than 20 years retirement unless its medical. There is no 'retirement' account. There is Social Security which is taken out from pay from the very first pay check because it is anticipated that very few who join will be around in 20 years. Anything else is someone playing games with the accounting books of moving appropriations and numbers from one department's books to another. "About 83 percent leave with absolutely nothing," Todd Harrison of the Center for Strategic and Budgetary Assessments told USA Today They leave as any worker with money in their SS accounts and usually with the minimum period for future access. They also receive VA benefits which as we've witnessed in this administration's handling has dwindled in practical coverage. I smell a Trojan Horse in play. |
| Posted by: Procopius2k 2015-03-31 06:45 |