DoD panel calls for radical retirement overhaul
By Andrew Tilghman - Staff writer Posted : Monday Jul 25, 2011 A sweeping new plan to overhaul the Pentagon's retirement system would give some benefits to all troops and phase out the 20-year cliff vesting system that has defined military careers for generations.
In a massive change that could affect today's troops, the plan calls for a corporate-style benefits program that would contribute money to troops' retirement savings account rather than the promise of a future monthly pension, according to a new proposal from an influential Pentagon advisory board.
Unlike other proposals to overhaul military retirement that would grandfather current troops, the board suggests that DoD could make an "immediate" transition to the new system, which would affect current troops quite differently depending on their years of service.
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