[8/31 Update: The Associated Press is reporting that the Defense Business Board's expected "final report" and recommendations on retirement pay won’t be ready this month and will likely take a couple more weeks. No reason was given for the delay.]
In the interest of keeping our readers up to date on the Military Retirement Reform proposal, I will be posting a weekly status report on any military retirement news. So, where Does Panetta Stand on Retirement Reform?
This week The Washington Post is reporting that although the Defense Business Board’s final plan has not been released, Defense Secretary Panetta has hinted that he may be leaning toward some of their recommended reforms.
According to TWP, Panetta insists he has made no decisions, but, they claim it is clear that he has been influenced by the DBB presentation. Panetta recently told Pentagon reporters, “The question that is at least legitimate to ask is, ‘Is there a way for those future volunteers to shape this that might give them better protection to be able to have some retirement and take it with them?’ ”
Retired Army officer and military analyst, Andrew J. Bacevich, wrote in the Washington Post that the DBB’s proposed solution “would be to transform profession into trade, reducing long-serving officers and noncommissioned officers to the status of employees, valued as long as they are needed, expendable when they are not, forgotten the day they leave.”
As noted in this blog in the past, Sec. Panetta has stated that he would likely grandfather current servicemembers and military retirees – essentially shielding them from any major changes to their retirement. However, that does not mean that the proposed change to the annual cost-of-living-adjustment (COLA) formula and TRICARE fee changes are not going to happen.
Past Blog posts on the subject:
- Is Military Retirement Unfair and too Generous?
- No Military Retirement Changes Anytime Soon
- What Military Retirement Reform Means
- Military Retirement Faces Overhaul