Download or read book A Cost Analysis of the Military Retirement System written by Kyle R. Martin and published by . This book was released on 2004-03-01 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research explores possible changes to the current military retirement system. The research contains a detailed explanation of the current military retirement system and its objectives; a summary of the history and past legislation affecting private sector pension plans and the military retirement system; and a discussion of major analytic studies of the military retirement system since 1969 and their impact on the current system. The costs and benefits of three alternatives to the current system are analyzed using a deterministic and stochastic analysis. These alternatives are based on benefit structure changes not explicitly reducing costs. System restructuring would change the emphasis from cutting benefits to keeping costs constant (or lower) with an equal (or greater) benefit level. This restructuring approach is based on three defined contribution options that have varied contribution percentages. The contribution percentages are designed to provide different levels of incentive for continued military service. The analysis demonstrates that each alternative is an attractive consideration for the DoD because the alternatives are aligned with the objectives of the military retirement system, cost the government less to administer, and provide greater benefit annuities to the service member.
Download or read book An Analysis of the Military Retirement Plan Recommended by the President s Commission on Military Compensation written by Mike Calvert and published by . This book was released on 1979 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rising cost of the U.S. military retirement system has made it increasingly controversial over the last ten years. Consequently, several study groups have recommended changes designed to reduce costs. The President's Commission on Military Compensation (PCMC) recently recommended broad changes to the military retirement system but did not fully predict the effect of proposed changes on personnel retention. The author compared the estimated total annual cost of the present military retirement system with that of the PCMC under like conditions in order to determine if the PCMC proposal would reduce retirement costs. The retention rates expected by DOD analysts were used. The analysis indicated that the PCMC proposal would result in a cost reduction of 38 percent which is consistent with PCMC claims. The thesis also compares the historical background and current provisions of private, U.S. Social Security, and U.S. military retirement pensions. (Author).
Download or read book A Policy Analysis of Alternative Military Retirement Systems written by Beth J. Asch and published by Rand Corporation. This book was released on 1994 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Summarizes the authors' previously developed theoretical model of compensation in a large, hierarchical organization like the military that permits an analysis of the issues surrounding the design of military compensation. Presents an empirical version of that model and uses it to evaluate the current and alternative military retirement systems in terms of their implications for force structure, cost, and productivity (i.e., personnel effort and ability sorting); the implications for the current military compensation system, and the implications of several proposals (including several of the authors' own design) that change the structure of the military retirement system. The authors estimate that under certain circumstances the proposed systems would permit the Department of Defense to maintain forces at least as capable as today's at no higher cost.
Download or read book An Overview of Past Proposals for Military Retirement Reform written by John Christian and published by Rand Corporation. This book was released on 2006 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: By one estimate, between fiscal years 1995 and 2005, total compensation costs for current and former military personnel increased by almost 60 percent. The military retirement benefit remains a significant portion of these costs, and every change to accessions, retention, and basic pay today will have a future effect on pension expenditures. This technical report provides an overview of the history of U.S. military retirement studies and associated legislation, with a particular focus on the past 60 years of proposed reforms. It is organized around the following five major issues that have driven attempts at retirement system reform: cost, equity, selective retention, civilian comparability, and force management flexibility. The author finds that cost alone is reason to analyze the current retirement system, and reform proposals of the past have focused carefully on cost. However, he also finds that, as the military's mission evolves over time, it is also important to consider the sometimes subtle incentive effects that the retirement system has on service member behavior. Beyond considerations of cost, reform of the military retirement system necessarily involves ramifications for force structure and operational readiness.
Download or read book The Cost of a Military Person year written by Carl J. Dahlman and published by Rand Corporation. This book was released on 2007 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work presents a new method of estimating the cost of a military person-year that focuses on the actual cost of the retirement benefits that the federal government must provide to military personal, where previously available measures focused only on annual retirement-fund accrual costs. A major implication of this alternative calculus is that truly effective force management requires an increased focus on the cost of personnel.
Download or read book A Policy Analysis of Reserve Retirement Reform written by Beth J. Asch and published by Rand Corporation. This book was released on 2013 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the burden of defense borne by reserve forces has increased, more attention has been paid to differences between the compensation systems for the reserve and active components. One particular emphasis is on the retirement systems, a key difference being that reserve members who complete 20 years must wait until age 60 to draw benefits whereas active members can draw benefits immediately upon discharge. This monograph compares the reserve and active retirement systems, discusses the importance of structuring compensation to enable flexibility in managing active and reserve manpower, describes how the debate over reserve retirement reform has differed from active component retirement reform debate, and considers obstacles to reform and how they might be overcome. It also provides a quantitative assessment of several past congressional proposals to change the reserve retirement system in terms of their effects on reserve participation and personnel costs, concluding that proposals to reduce the age at which eligible members may begin receiving retirement benefits are not cost-effective means of sustaining or increasing reserve component retention. It also concludes that a menu of member options can be a powerful tool to maintain morale and overcome obstacles to reform. Current members could be given the choice of staying in the current retirement system or joining the new one, and the choice might be offered over a period of time, say five years. New entrants and reentrants with few years of service might be placed under the new system.
Download or read book Effects of the Blended Retirement System on United States Army Reserve Participation and Cost written by Beth J. Asch and published by . This book was released on 2019-12-05 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analysis of the new Blended Retirement System (BRS) finds that it can sustain U.S. Army Reserve participation relative to the legacy system. The analysis also predicts continuation-pay cost and the percentage of reservists opting in to the BRS.
Download or read book Military Retirement written by Sharon Cekala and published by DIANE Publishing. This book was released on 1999-05 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changes made to the design of many civilian retirement systems over the past 2 decades, along with increasing federal budget pressures, have focused attention on whether the military retirement system is best designed to efficiently meet the needs of the DoD and members of the military services. This report addresses: (1) military retirement costs, (2) the role of military retirement in shaping and managing U.S. forces, and (3) proposed changes to modernize the system and contribute to more efficient force management. Charts and tables.
Download or read book Military Retirement written by Charles A. Henning and published by DIANE Publishing. This book was released on 2011 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a print on demand edition of a hard to find publication. The military retirement system is a non-contributory, defined benefit system that has historically been viewed as a significant incentive in retaining a career military force. Congress grapples with constituent concerns as well as budgetary constraints when considering military retirement issues. While congressionally mandated changes to the military retirement system have been infrequent, any potential future changes are closely monitored by current and future retirees, and the vets¿ service org. who support them. Contents of this report: (1) Overview; (2) Three Systems, Different Retired Pay Calculations; (3) Retired Pay and the Cost-of-Living Allowance (COLA); (4) Military Retirement Budgeting and Costs; (5) Reforming the Military Retirement System. Tables.
Download or read book Military Retirement Benefits written by Jack D. Medlin and published by . This book was released on 1984 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the current Military Retirement System in an effort to determine if changes should be made in it, and if so, what kind of changes and the consequences of such changes. An analysis was made of the President's Private Sector Survey on Cost Control findings to determine the differences between the Military Retirement System, the Civil Service Retirement System, and retirement systems from the private sector. Special emphasis was devoted to determining the real problem which has led to these benefits being challenged currently. Additional data furnished from the National LIfe Insurance Company of Montpelier, Vermont helps to identify cost savings of paying benefits at various times. The conclusion is that the Military Retirement System is indeed generous and should be modified to incorporate features that would replace long-term incentives with short-term incentives which, in future years would substantially reduce costs for the taxpayer. However, changes should not be made in the Military Retirement System without similar changes in other federal retirement systems.
Download or read book A Department of Defense Retirement System for the Future written by Gary L. Jacobson and published by . This book was released on 2002-06-01 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current military retirement system has come under much scrutiny in recent years. Much off this scrutiny has been a result of the high cost of the system. Many studies have been undertaken in attempts to develop a retirement system for military personnel that would reduce the cost. Congress has acted several times in recent decades on these proposals. In all but one instance, the result has been lowering system costs by reducing retiree benefits, The goal of this study was to examine the objectives of the military retirement system for the purpose of determining if a retirement system could be developed that would lower system costs while simultaneously meeting the objectives of the current system and maintaining the retirees perceived retirement entitlements at their current level. The result of the study is a proposed multi-option retirement system for the military that is better aligned with the DoD retirement system objectives and reduces the system cost while simultaneously enhancing future retiree entitlement potential. The model costs and benefits are analyzed using a Monte Carlo type simulation model to more accurately predict future results and allow for analysis of various modifications to the proposal.
Download or read book Military Retirees Health Care written by United States. General Accounting Office and published by . This book was released on 1997 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Cost Benefit Analysis of a Military Thrift Savings Plan written by and published by . This book was released on 2000 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: The transition from defined benefit to defined contribution retirement plans represents the most significant change in both the private sector and civil service employee retirement systems in the last twenty years. The Thrift Savings Plan (TSP), a tax-deferred, defined contribution plan for federal civilian employees, was established in 1986 as part of the Federal Employee Retirement System. This thesis discusses the costs and benefits of a TSP plan for the uniformed services. The objective of the research addresses the costs of a military TSP. Government studies, periodicals, and the Internet were examined to identify the strengths and weaknesses of the federal TSP. Next, a probabilistic spreadsheet model using Monte Carlo simulation was developed to forecast deferred tax revenue, which represents the most significant cost associated with a military TSP. An analysis of the results indicates that the simulations come within 2.6 percent of the initial Department of Defense's forecast. On October 30, 2000, the National Defense Authorization Act for fiscal year 2001 was enacted. This act included a military TSP called the Uniformed Services Payroll Savings Plan. It is recommended that future cost estimates use probabilistic spreadsheet modeling to provide more relevant information to the decision making process.
Download or read book A Cost Benefit Analysis of a Military Thrift Savings Plan written by Richard G. De Guzman and published by . This book was released on 2000-12-01 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: The transition from defined benefit to defined contribution retirement plans represents the most significant change in both the private sector and civil service employee retirement systems in the last twenty years. The Thrift Savings Plan (TSP), a tax-deferred, defined contribution plan for federal civilian employees, was established in 1986 as part of the Federal Employee Retirement System. This thesis discusses the costs and benefits of a TSP plan for the uniformed services. The objective of the research addresses the costs of a military TSP. Government studies, periodicals, and the Internet were examined to identify the strengths and weaknesses of the federal TSP. Next, a probabilistic spreadsheet model using Monte Carlo simulation was developed to forecast deferred tax revenue, which represents the most significant cost associated with a military TSP. An analysis of the results indicates that the simulations come within 2.6 percent of the initial Department of Defense's forecast. On October 30, 2000, the National Defense Authorization Act for fiscal year 2001 was enacted. This act included a military TSP called the Uniformed Services Payroll Savings Plan. It is recommended that future cost estimates use probabilistic spreadsheet modeling to provide more relevant information to the decision making process.
Download or read book Evaluating the Military Retirement System written by Isaac Faber and published by . This book was released on 2015 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the U.S. Government moves into an era of fiscal responsibility, addressing national spending goes hand-in-hand with addressing the specific programs in place that accrue the greatest costs in the future. Reducing these expenses is paramount in dealing with the budget strategy and finding the means to make programs more efficient should be the forward focus. From the realm of National Defense, the Military Retirement System is a growing expenditure that threatens both current and future benefits for the Service Member it is designed to service. The issue is sensitive in that its stakeholders encompass the men and women of the U.S. Armed Forces, but simultaneously the growing costs threaten the strategic defense of the United States. This study looks to address the inefficiencies of the current Military Retirement System by evaluating which attributes of the retirement plan that the Service Member finds most attractive. Using Adaptive Choice-Based Conjoint Analysis a resourceful, unadorned surveying technique to evaluate the potential military retiree, this study demonstrates an effective methodology at evaluating consumer (the Service Member) preferences and provides an examination of potential policy changes to combat the growing financial dilemma.
Download or read book Military retirees health care costs and other implications of options to enhance older retirees benefits report to the chairman and ranking minority member Subcommittee on Military Personnel Committee on National Security House of Representatives written by and published by DIANE Publishing. This book was released on with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Military Retirement System written by United States. Congress. House. Committee on the Budget. Task Force on Entitlements, Uncontrollables, and Indexing and published by . This book was released on 1983 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
