Redux Bonus: Bad Deal Gets Worse

Week of August 18, 2008

Thousands of military members entering their fifteenth year of service continue to be enticed by a wily government offer: a $30,000 bonus if they agree to take a deep and permanent cut in future retirement benefits. The offer, called a Career Status Bonus, takes advantage of service people who are in financial distress, or easily lured by cash-in-hand, or who fail to grasp the amount of retirement dollars forfeited over their lifetime. The government's goal in offering the CRB/Redux combination is to save hundreds of millions of dollars a year in future retirement obligations.  It works well but at service members' expense. To learn more, read the full article on Military.com.

Email this page | Subscribe to Benefits Update |