I signed it.....
Proposed Military Retirement Changes
- Thread starter birch
- Start date
I signed it.....
When you signed up for that job I can only assume you did so of your own free will and with full knowledge of what the pay and benefits were. (if you didn't that's YOUR fault) If you wanted a better retirement package YOU could have chosen a different line of work. Free will, free market and all that- perhaps you've heard of it?
Many of us signed up with the knowledge that we would get 50% at retirement. And now they want to change the rules..... if it's good enough for us then it's good enough for them.
I'm pretty sure they will have a grandfather program. Any body after a certain enlistment date will get the new plan and before the old plan. I can't imagine them screwing with someone with over 12yrs in with this crap.
They would have to start the date for grandfathering once they pass it imo.
From what I've read there will be no grandfathering...... it will go into effect immediately upon the Presidents signature.
TORQJNKY
Active Member
Its pretty sad for those of us who have already done enough time to retire and have stayed in past 20 because we not only love our jobs but aspire to have a 30 year career with a 75% retirement.
wow...such bs..
That's correct from my understanding. For example I'm 11 years inservice. I would begin receiving the TSP retirement for my remaining 9 years and then I would only receive 25% pension.
Same from what I've read. Everyone will have a mandatory TSP of 16% of their base pay with NO matching contribution from the DoD. The people that have been in for 5+ years are the only ones getting grandfathered and it will go 5+ years 1/4 of 50% at 20 years, 10+ years 1/2 of 50% at 20 years, 15+ years 3/4 of 50% at 20 years.
You know I was talking to my Grandma the other day about my Grandpa's care/expense now that he is in a home. She mentioned how back in WWII they were ALL being told that if you served (one tour or 20+ years), your medical would be payed for the rest of your life. Guess who is not getting ANY benefit from VA...
That 16.5% is a contribution not a deduction from your base pay. For example, I put 3% of my base pay into TSP, so my total TSP deposit would be 16.5% from the gov't plus 3% from me for a total of 19.5% base pay.
BS, I have 12yrs in and if they do this crap, I have no reason to stay in and go back to sea for another 3yrs on a boat with 6+ months deployments, underways, workup cycles, insurvs, overnight duty, double watches, and ETC.
Your right about retirees getting healthcare for life. When I joined in 84 anyone who retired with at least 20 was promised free tricare for life. That went away in the 90's without even a peep from any congressional representive. It was promised and taken away without out consideration. Like I said in earlier thread, they can do what they want, when they want and how they want. Am glad I did my twenty and got out. I look back on all the heartache, TDY's and long hours with fondness. I hope you all can do the same even during these difficult times. They took my free healthcare away and changed how they calculated my retirement by using the last 36. Both costing me real retirement dollars!
Of course I did. And that was worth more to me than getting sent all over the place by the usmc and having my wife worried. I got out because we could settle here and make good money.
You completely ignored what I was saying to PSU. He said they should hack up our pensions, then they are already considerably less than yours. And that's the trade off. I make exponentially more than I did in the military, yet I will get less retirement. It's all the same pie no matter how you slice it. The moral of the story is that there are too many people now eating from the same pie and not enough to go around.
In order to fully understand the new calculations, does someone know what a 20 year E7would get under each retirement. For example under original program he would get $1800 a month and the new system he gets $200. How would an E9 with 30 fair?
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