DoD Seeks to Delay Matching Retirement Benefit

The U.S. Defense Department's proposed budget for fiscal 2017 seeks to rein in the military's new retirement system recently passed by Congress by delaying when junior troops can begin receiving matching contributions, a budget analyst said. In documents released Tuesday as part of the proposed budget for the fiscal year that begins Oct. 1, the Pentagon indicated it wants to change when service members can begin receiving matching retirement contributions — from their third year of service to their fifth year of service. For more details, see this Military.com article.