{"id":62985,"date":"2015-11-27T10:00:47","date_gmt":"2015-11-27T15:00:47","guid":{"rendered":"http:\/\/valorguardians.com\/blog\/?p=62985"},"modified":"2015-11-27T10:26:42","modified_gmt":"2015-11-27T15:26:42","slug":"20-year-retirement-is-gone","status":"publish","type":"post","link":"https:\/\/www.azuse.cloud\/?p=62985","title":{"rendered":"20-year retirement is gone"},"content":{"rendered":"

Hondo sends us a link to the Army Times<\/a> which reports that the new budget deal that the President signed the other day included an end to the 20-year retirement plan that most of us enlisted for so long ago. It looks like that when folks enlist after 2018, they will not get the deal.<\/p>\n

Starting in 2018, newly enlisted troops will no longer have the traditional 20-year, all-or-nothing retirement plan. Under the changes, it will be replaced with a blended pension and investment system, featuring automatic contributions to troops’ Thrift Savings Plans and an opportunity for government matches to personal contributions.<\/p>\n

The new system is expected to give roughly four in five service members some sort of retirement benefit when they leave the military, as opposed to the current system which benefits only one in five.<\/p><\/blockquote>\n

Yeah, four-in-five will get a retirement benefit if they contribute to the Thrift Savings Plan (401k-like pre-tax savings), the same TSP that they have access to now, without an employer match. The upside for the Obama Administration is that people will scurry to enlist before 2018 in order to get a shot at the old plan, but the next President will have to deal with lower enlistment when service is less attractive. I warned back in 2008 that Obama would eventually get around to dismantling the military and it only took him seven years to do it.<\/p>\n

The good news in the defense bill is that Obama doesn’t get the funds to close Guantanamo and flag officers don’t get the whopping 1.3% pay raise that the troops get – a huge savings, I suppose. Obama signed this bill as opposed to the one he vetoed earlier this year because Congress promised to bust spending caps on non-defense spending. So, yay, everyone wins, right?<\/p>\n","protected":false},"excerpt":{"rendered":"

Hondo sends us a link to the Army Times which reports that the new budget deal … 20-year retirement is gone<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":38186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46,89],"tags":[],"class_list":["post-62985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-barack-obama","category-congress-sucks"],"_links":{"self":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/62985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62985"}],"version-history":[{"count":0,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/62985\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/media\/38186"}],"wp:attachment":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}