Originally Posted by
acl65pilot
So long volunteer Army. They are the only ones that should have a pension. Now if we are talking about all other government employees, they better realize that their Defined Benefit for a fix percentage contribution is going to come to an end. I keep trying to tell that to my family members in government service.
It won't go away. If anything it will be a VERY significant net increase for the majority of those who serve because under the status quo if you punch out before 20, which is the considerable majority, you get nothing. If I read correctly its somewhere around 16% in a mandated low risk B fund style program. The only ones who will be hurt by this are the "coloring book" drill for points for 10 years guys and even they have had to have known this was coming.
Either way the mentality of anything government being 20 years of work and a lifetime of immortal security while the private sector works for 40-50(+?) and good luck hope your investments worked out, IF you had enough to save in the first place, is a fiscal impossibility anymore. Especially if we intend on a multimillion man standing global military for all eternity.