retirement/benefits...another article
11-03-2012, 09:53 PM
#11
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Originally Posted by limelight
So, 04-12, you're about a year ahead of me out of UPT, here's a question for ya. How much would the bonus have to be (knowing that you probably wont see the retirement as we now know it) for you to stay beyond your commitment, which I'm estimating at about July/Aug of next year? I have a number in my head but I just want to see what other people think.
11-04-2012, 05:49 AM
#12
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Originally Posted by CAFB 04-12
I'm on the tail end of a non-vol 365 in Afghanistan right now....so, going to the end of that line is a big deal for me. 9 months ago, if you asked me about the bonus, I would have told you that it needed to at least double, probably triple for me to be interested. But, I have a dream assignment coming up flying Gulfstreams which will take me to 14 years of service, so that makes the bonus almost a no-brainer at any value since I'll be so close to 20 year retirement.
However, if they take away the lifetime annuity and I can't collect till age 60 then I would probably walk away at 14 years. No amount of bonus makes up for the loss of that annuity that vests at 20 years of service.
However, if they take away the lifetime annuity and I can't collect till age 60 then I would probably walk away at 14 years. No amount of bonus makes up for the loss of that annuity that vests at 20 years of service.
11-04-2012, 05:58 AM
#13
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BBC News - Pension reforms for military outlined by MoD
UK military pension plans were amended this summer. I work with a UK exchange pilot who was four months shy of the grandfather clause, and he will now have to serve five more years than originally promised to earn a pension.
UK military pension plans were amended this summer. I work with a UK exchange pilot who was four months shy of the grandfather clause, and he will now have to serve five more years than originally promised to earn a pension.
11-04-2012, 06:48 AM
#14
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Keep in mind that the Center for American Progress is a liberal think tank. It is unlikely that any study from them will significantly alter the landscape. I'd be more concerned if it was from a non-partisan study of some sort.
That having been said, changes will be coming.
I would guess that, among other things, Tricare benefits for retirees will become means-tested, just as Medicare eligibility and Social Security benefits will be.
Your best bet? Live your life irresponsibly! That way, when you actually retire, you will have big mortgage payments, no savings, and no ability to take care of yourself ... then, you will get all the benefits because you "need" them.
In case anyone can't tell, I was being facetious in that last paragraph ...
That having been said, changes will be coming.
I would guess that, among other things, Tricare benefits for retirees will become means-tested, just as Medicare eligibility and Social Security benefits will be.
Your best bet? Live your life irresponsibly! That way, when you actually retire, you will have big mortgage payments, no savings, and no ability to take care of yourself ... then, you will get all the benefits because you "need" them.
In case anyone can't tell, I was being facetious in that last paragraph ...
11-04-2012, 01:13 PM
#15
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Originally Posted by propfails2FX
BBC News - Pension reforms for military outlined by MoD
UK military pension plans were amended this summer. I work with a UK exchange pilot who was four months shy of the grandfather clause, and he will now have to serve five more years than originally promised to earn a pension.
UK military pension plans were amended this summer. I work with a UK exchange pilot who was four months shy of the grandfather clause, and he will now have to serve five more years than originally promised to earn a pension.
The UK system is somewhat different than ours in that their folks tend to serve longer anyway, which means the condition are more tolerable (marathon vice sprint). They are certainly capable of superb military performance when needed, but they slow the pace a little when in garrison.
Thje US system typically requires maximum, even extreme, effort and committment thereby burning folks out sooner, thus the need for the 20 year pension. Few of us could handle the pace to age 60, and even fewer would want to.
11-04-2012, 01:19 PM
#16
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Originally Posted by Marvin
Keep in mind that the Center for American Progress is a liberal think tank. It is unlikely that any study from them will significantly alter the landscape. I'd be more concerned if it was from a non-partisan study of some sort.
Probably. If they totally trash the compensation and retirement system, they will see a catastrophic mass exodus of talent which would literally force the US to cede it's lone super-power role.
I won't say that's not going to happen eventually but I doubt it will be a decision taken lightly and don't think the folks in Washington are big enough idiots to let it happen via the unitended consequences of pension "reform".
Now that's not to say that somebody with an isoloationist agenda might not attempt to further that by gutting the US military from the inside.
11-04-2012, 02:37 PM
#17
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somewhere in all this is the middle. It is indeed a liberal think tank. It does point towards what will happen depending on how elections go though. There is some manner of reform coming I do think.
11-04-2012, 02:46 PM
#18
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Originally Posted by grasshopper
somewhere in all this is the middle. It is indeed a liberal think tank. It does point towards what will happen depending on how elections go though. There is some manner of reform coming I do think.
I don't like the word reform in this case because I think our compensation is about right for what is asked of us. If they reduce compensation, they are going to have to reduce the workload or everybody will walk.
11-04-2012, 02:55 PM
#19
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Originally Posted by rickair7777
I don't like the word reform in this case because I think our compensation is about right for what is asked of us. If they reduce compensation, they are going to have to reduce the workload or everybody will walk.
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