Download or read book Retirement Security written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-07-01 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Members of the Armed Forces can retire at any age after 20 years of service. The Department of Defense (DOD) justifies this length of service as necessary to retain a young and vigorous force and attract and retain servicemen. DOD uses a competitive promotion system which precludes most military members from serving full careers and must, by law, retire officers who have been passed over for promotion or who reach a certain age. Since their careers could end in the middle of their potential worklife, DOD believes military members need the assurance of early retirement benefits. In fiscal year 1975, officers retired at an average age of 46 after about 24 years of service, and enlisted personnel retired at an average age of 41 after approximately 21 years of service. Most fiscal year 1975 retirees' career time was spent in occupations not demanding exceptional youth and vigor. In fact, 81 percent of the enlisted member retirees and 30 percent of the officers spent their entire careers in non-combat-related occupations. The 20-year retirement provision should be discontinued for many military personnel in occupations not demanding exceptional youth and vigor. Twenty-year retirement, in conjunction with present personnel management policies, is an inefficient means of attracting new members, causes the services to retain more members than are needed up to the 20-year point, provides too strong an incentive for experienced personnel to leave after serving 20 years, and makes it impossible for the vast majority of members to serve full careers.

Download or read book The 20 Year Military Retirement System Needs Reform written by United States Accounting Office (GAO) and published by Createspace Independent Publishing Platform. This book was released on 2018-06-26 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 20-Year Military Retirement System Needs Reform

Download or read book Twenty Year Military Retirement System Needs Reform written by United States. General Accounting Office and published by . This book was released on 1981 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The 20 year Military Retirement System Needs Reform written by United States. General Accounting Office and published by . This book was released on 1978 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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 Twenty Years of Service written by Brandon J. Archuleta and published by University Press of Kansas. This book was released on 2020-08-06 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Military pension policies are as old as the republic itself and reside at the intersection of American social, economic, and defense policy. But as the nation’s social and economic circumstances underwent dramatic changes over the last half century, military pension policy remained static, stuck in the personnel and retirement model of the industrial age. This book examines why. Integrating policy history, theory, and practice, Twenty Years of Service provides the most comprehensive examination of US military pension policy in a generation. Brandon J. Archuleta sets the stage with an exploration of the rise, evolution, and transformation of the veterans’ policy subsystem from the American Revolution through World War II. The ensuing theoretical overview explains how the military personnel policy subsystem achieved the autonomy it enjoyed from 1948 to 2018; it also offers a new perspective on autonomous policy subsystems in general, which helps to account for the long-term pension policy stasis. In practical terms, Archuleta explores the role of the successful 2015 Military Compensation and Retirement Modernization Commission as an institutional venue for policy change during the congressional budget battles of the 2010s. Through extensive archival research, illustrative case studies, and field interviews with Pentagon bureaucrats, congressional staffers, veterans’ lobbyists, defense scholars, and journalists, Twenty Years of Service brings the policymaking process to life. Its insights will prove invaluable to policy scholars and defense practitioners alike.

Download or read book Recent Changes to the U S Military Retirement System written by Committee on Committee on Armed Services United States Senate and published by CreateSpace. This book was released on 2015-05-05 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Bipartisan Budget Act (BBA) of 2013 included a provision that reduced the cost-of-living adjustments (COLA) for working age military retirees by 1 percent until the retiree reaches the age of 62, at which time retired pay is adjusted to the level it would have been had the COLA not been reduced. In a USA Today column defending the legislation, Congressman Paul Ryan explained the provision as follows: "We make no changes for those currently at or above age 62. This reform affects only younger military retirees. Right now any person who has served 20 years can retire regardless of age. That means a serviceman who enlists at 18 becomes eligible for retirement at 38." The Consolidated Appropriations Act amended the BBA to exempt disability retirees and their survivors from the COLA reduction. The COLA reduction is wrong because it targets a single group, military retirees, to help address the budget problems of the Federal Government as a whole. While reforms have been made to the Federal civilian pension, those changes applied prospectively to new employees. By contrast, this change to military pensions will apply upon implementation to current retirees, their families, and survivors.

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.

Download or read book Assessing Chile s Pension System Challenges and Reform Options written by Samuel Pienknagura and published by International Monetary Fund. This book was released on 2021-09-10 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.

Download or read book The Challenge of Public Pension Reform in Advanced and Emerging Economies written by Mr.Benedict J. Clements and published by International Monetary Fund. This book was released on 2013-01-25 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.

Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.

Download or read book Summaries of Conclusions and Recommendations on Department of Defense Operations written by United States. General Accounting Office and published by . This book was released on 1979 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Budget Issues for Fiscal Year 1982 written by United States. Congress. House. Committee on the Budget and published by . This book was released on 1981 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Privatizing Social Security written by Martin Feldstein and published by University of Chicago Press. This book was released on 2008-04-15 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume represents the most important work to date on one of the pressing policy issues of the moment: the privatization of social security. Although social security is facing enormous fiscal pressure in the face of an aging population, there has been relatively little published on the fundamentals of essential reform through privatization. Privatizing Social Security fills this void by studying the methods and problems involved in shifting from the current system to one based on mandatory saving in individual accounts. "Timely and important. . . . [Privatizing Social Security] presents a forceful case for a radical shift from the existing unfunded, pay-as-you-go single national program to a mandatory funded program with individual savings accounts. . . . An extensive analysis of how a privatized plan would work in the United States is supplemented with the experiences of five other countries that have privatized plans." —Library Journal "[A] high-powered collection of essays by top experts in the field."—Timothy Taylor, Public Interest

Download or read book Oversight of the Implementation of the Grace Commission Report hearing Before the Committee on Governmental Affairs United States Senate Ninety ninth Congress First Session May 9 1985 written by United States. Congress. Senate. Committee on Governmental Affairs and published by . This book was released on 1985 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Waste and Mismanagement in Defense written by United States. Congress. House. Committee on the Budget. Task Force on National Security and Veterans and published by . This book was released on 1981 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book FERS Federal Employees Retirement System written by and published by . This book was released on 1996 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: