Military Advantage

DBB Retirement Plan Draws Fire

Several Congressmen have joined veterans' organization leaders in their opposition to the Defense Business Board's recommendation to radically overhaul the current military retirement system.

Even DoD official's have made statements to distance themselves from the proposal to replace the system with a 401k style plan.

Tom Philpott's latest article quotes Jo Ann Rooney, principal deputy under secretary of defense for personnel and readiness, who said "the department acknowledges the military retirement system appears expensive [but] it is neither unaffordable nor spiraling out of control as some would contend."

Philpott also reports that Rep. Joe Wilson (R-SC) and some of his House colleagues are criticizing the DBB plan. Rep. Joe Heck (R-Nev.), an Army Reserve physician, blasted the DBB for proposing a civilian-like retirement plan with only sketchy information on how it would affect those serving today, including in Iraq and Afghanistan.

Read Philpott's article, Business Board's 'Radical' Retirement Plan Blasted, to learn more.

Let your elected officials know how you feel about the plans to overhaul the Military Retirement system.

Show Full Article

Related Topics

Military Advantage

Most Popular Military Pay Articles

2018 Military Pay Charts

Check out the 2018 US military pay scale charts for all ranks for active duty, as well as Reserve and Guard components.

Military Retired Pay Overview

The military retirement system is arguably the best one around, but proper planning is needed to ensure you can retire comfor...

COLA for Retired Pay

Each year military retirees receive a Cost of Living Adjustment to their retirement pay. The increase is based on inflation r...

The Military Retirement System

There are currently four different retirement pay systems depending on when you joined the military. Understanding how each r...