Download or read book Report of the Military Compensation and Retirement Modernization Commission written by United States. Military Compensation and Retirement Modernization Commission and published by . This book was released on 2015 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Military Compensation and Retirement Modernization Commission released 15 recommendations to modernize the Uniformed Services' compensation and benefit programs; they comprise this report. These recommendations create a compensations package that ensures the long-term success of the All-Volunteer Force, enables the quality of life for members of the Uniformed Services, and improves the fiscal sustainability of the compensation and retirement systems. This detailed proposal to revamp military retirement would shrink the size of future troops' pensions and end the 20-year, all-or-nothing aspect of the current benefits package by starting 401(k)-style investment funds with government contributions for lower-ranking troops. One feature of the new proposal is to give individual troops the option to forgo immediate monthly retirement checks and instead receive a lump-sum payment for the total value of their working-age retirement benefit between the time they leave service and the time they become eligible for their normal Social Security benefits, usually starting at age 67. At its core, the new proposal would scale back the size of military pensions by 20 percent. Yet it preserves the current structure by continuing to offer the option of monthly checks immediately upon separation for those who serve 20 years.

Download or read book Report of the Military Compensation and Retirement Modernization Commission written by United States. Military Compensation and Retirement Modernization Commission and published by . This book was released on 2014 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Firm written by and published by . This book was released on 1993 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Reports written by Military Compensation and Retirement Modernization Commission and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Testimony of the Military Compensation and Retirement Modernization Commission written by United States. Congress. Senate. Committee on Armed Services and published by . This book was released on 2015 with total page 836 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Report of the President s Commission on Military Compensation written by United States. President's Commission on Military Compensation and published by . This book was released on 1978 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Reforming Military Retirement written by Beth J. Asch and published by Rand Corporation. This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using the Dynamic Retention Model, this report evaluates the Military Compensation and Retirement Modernization Commission's proposed reforms to military compensation and retirement, especially their ability to sustain the current force size/shape.

Download or read book Stakeholder s Views on the Recommendations from the Military Compensation and Retirement Modernization Commission written by United States. Congress. House. Committee on Armed Services. Subcommittee on Military Personnel and published by . This book was released on 2015 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Final Recommendations from the Military Compensation and Retirement Modernization Commission written by United States. Congress. House. Committee on Armed Services. Subcommittee on Military Personnel and published by . This book was released on 2015 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Final Recommendations from the Military Compensation and Retirement Modernization Commission written by United States. Congress. House. Committee on Armed Services and published by . This book was released on 2015 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Final Recommendations from the Military Compensation and Retirement Modernization Commission written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2017-12-03 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Final recommendations from the Military Compensation and Retirement Modernization Commission : hearing before the Subcommittee on Military Personnel of the Committee on Armed Services, House of Representatives, One Hundred Fourteenth Congress, first session, hearing held February 11, 2015.

Download or read book The Department of Defense Views on the Military Compensation and Retirement Modernization Commission s Recommendations for Military Health Care Reform written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2017-09-18 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Department of Defense views on the Military Compensation and Retirement Modernization Commission's recommendations for military health care reform : hearing before the Subcommittee on Military Personnel of the Committee on Armed Services, House of Representatives, One Hundred Fourteenth Congress, first session, hearing held June 11, 2015.

Download or read book Stakeholder s Views on the Recommendations from the Military Compensation and Retirement Modernization Commission written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2017-12-06 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stakeholder's views on the recommendations from the Military Compensation and Retirement Modernization Commission : hearing before the Subcommittee on Military Personnel of the Committee on Armed Services, House of Representatives, One Hundred Fourteenth Congress, first session, hearing held March 25, 2015.

Download or read book The Military Compensation and Retirement Modernization Commission s Blended Retirement Plan written by James Grefer and published by . This book was released on 2016 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines the impact of the new military blended retirement system (BRS) on various U.S. Marine Corps force management objectives (FMOs). We estimated the effect of the retirement system changes on active component (AC) and reserve component (RC) force profiles and personnel costs and the financial impact on individual AC Marines. Our results depend on assumptions about personal discount, BRS opt-in, Thrift Savings Plan contribution, and return-on-investment rates. Our baseline estimates of the effects on FMOs use the assumptions in the Military Compensation and Retirement Modernization Commission (MCRMC) final report. We tested the sensitivity of our estimates to changes in the MCRMC assumptions and found that enlisted force profiles change very little, while enlisted personnel cost-saving estimates are more varied. Estimates for AC officer FMOs are more sensitive to changes in the assumptions.

Download or read book Military Pay written by Congressional Research Service and published by Createspace Independent Publishing Platform. This book was released on 2017-04-08 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current military compensation system includes cash payments such as basic pay, special and incentive pays, and various allowances. Servicemembers also receive noncash benefits such as health care and access to commissaries and recreational facilities, and may eventually qualify for deferred compensation in the form of retired pay and other retirement benefits. This report provides an overview of military compensation generally, but focuses on cash compensation for current servicemembers. Since the advent of the all-volunteer force in 1973, Congress has used military compensation to improve recruiting, retention, and the overall quality of the force. Congressional interest in sustaining the all-volunteer force during a time of sustained combat operations led to substantial increases in compensation in the decade following the September 11 attacks. More recently, concerns over government spending have generated congressional and executive branch interest in slowing the rate of growth in military compensation. Recent initiatives in this regard have included presidentially directed increases in basic pay below the rate of increase for the Employment Cost Index (ECI) for 2014-2016 and statutory authority for DOD to reduce BAH payments by 1% of the national average monthly housing cost per year from 2015-2019 (for a maximum reduction of 5% under the national monthly average housing cost). Some have raised concerns about the impact of personnel costs on the overall defense budget, arguing that they decrease the amount of funds available for modernizing equipment and sustaining readiness. Others argue that robust compensation is essential to maintaining a high-quality force that is vigorous, well-trained, experienced, and able to function effectively in austere and volatile environments. The availability of funding to prosecute wars in Iraq and Afghanistan mitigated the pressure to trade-off personnel, readiness, and equipment costs, but the current budgetary environment appears to have brought these trade-offs to the fore again. DOD spends about $100,000-$110,000 per year to compensate the average active duty servicemember - to include cash, benefits, and contributions to retirement programs - although some estimates of compensation costs are higher. However, gross compensation figures do not tell the full story, as military compensation relative to civilian compensation is a key factor in an individual's decision to join or stay in the military. Thus, the issue of comparability between military and civilian pay is an often-discussed topic. Some analysts and advocacy groups have argued that a substantial "pay gap" has existed for decades - with military personnel earning less than their civilian counterparts - although they generally concede that this gap is fairly small today. Others argue that the methodology behind this "pay gap" is flawed and does not provide a suitable estimate of pay comparability. Still others believe that military personnel, in general, are better compensated than their civilian counterparts. This latter perspective has become more prominent in the past few years. The Defense Department's 9th Quadrennial Review of Military Compensation (QRMC), published in 2002, argued that compensation for servicemembers should be around the 70th percentile of wages for civilian employees with similar education and experience. However, according to the 11th QRMC, published in 2012, it had reached the 83% level for officers and the 90% level for enlisted personnel. On January 29, 2015, the congressionally established Military Compensation and Retirement Modernization Commission delivered its final report to Congress. It included a variety of recommendations for restructuring military compensation, most notably with regards to the military retirement and health care system, but did not recommend substantially altering the elements of cash compensation on which this report focuses.

Download or read book Final Recommendations from the Military Compensation and Retirement Modernization Commission written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2017-12-03 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: Final recommendations from the Military Compensation and Retirement Modernization Commission : Committee on Armed Services, House of Representatives, One Hundred Fourteenth Congress, first session, hearing held February 4, 2015.

Download or read book Assessing Compensation Reform Research in Support of the 10th Quadrennial Review of Military Compensation written by and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Military retirement reform has been a central element of the policy debate regarding why and how to restructure the system for compensating members of the U.S. armed forces. Concerns about the compensation system, and the retirement system specifically, include the rising cost of military compensation and the need for greater efficiency in the provision of compensation, the greater need for flexibility to reshape the force as missions change in ways that challenge the current compensation system, and issues related to the equity of military retirement benefits of active versus reserve personnel, junior versus senior personnel, and military personnel versus their civilian counterparts. Active members can claim retirement benefits before reservists can; junior members who leave prior to completing 20 years of service do not qualify for retirement benefits, unlike their more senior counterparts; and the 20-year vesting rule is outside the civilian vesting norm of 5-7 years of service, under the Employee Retirement Income Security Act of 1974 (ERISA). The 10th Quadrennial Review of Military Compensation (QRMC), building on previous studies and commission reports, including the 2006 report of the Defense Advisory Committee on Military Compensation (DoD, 2006) and the 2000 report of the Defense Science Board Task Force on Human Resources Strategy, has proposed an alternative military retirement system that addresses concerns regarding the current system while still sustaining the force. The defined benefit (DB) and defined contribution (DC) plans are the foundation of the alternative system considered in this analysis. RAND was asked to develop a modeling capability to assess compensation alternatives, such as the QRMC proposal, in terms of their effects on military retention, retirement behavior, vesting, cost, reserve participation, and the value of compensation from the perspective of the member leaving active duty. This monograph presents the results of that study.