Congress has taken the first and perhaps historic step toward phasing out the 20-year-or-bust retirement system the U.S. military has used to shape and retain its career forces since the end of World War II. The replacement plan, as endorsed by the House armed services' personnel subcommittee, is a blended system that would cut by 20 percent the value of future force annuities in return for an added tool to build nest eggs earlier — 401(k)-like Thrift Savings Plan with government matching of service member TSP contributions. Get more details on this plan by reading this week's Military Update.
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