A blue-ribbon panel on military compensation and retirement recommended overhauling the decades-old retirement system for troops and the existing health care program for military families. The long-awaited proposals, unveiled on Thursday after a nearly two-year study, include offering troops 401(k)-like retirement plans before they reach 20 years of service and replacing the existing Tricare program with a choice of commercial health insurance options. Panel members said the efforts, if adopted by Congress, will give service members, retirees and their families more choice while saving $12 billion a year in personnel costs by around 2040. For more details, see this Military.com article.
Panel Proposes Overhauling Military Retirement and Tricare
