Put in 20 years and wait 20 plus years for full retirement.
Via Stars & Stripes
Amid attempts to reduce military personnel spending, the Pentagon on Thursday presented its official thinking on the politically touchy issue of how remake the military retirement system.
If enacted, the proposals would result in lower benefits for future troops who retire after full careers, but as a trade-off, could also make many more troops eligible for some retirement pay.
The Pentagon prepared the report, “Concepts for Modernizing Military Retirement,” for the Congressionally mandated Commission on Military Compensation and Retirement Modernization, which is conducting a broad study of how the department pays its current troops and retirees. The commission’s report is due in February 2015.
“This is not a proposal, it’s not a plan, and it’s not a recommendation,” Pentagon spokesman Lt. Cmdr. Nate Christensen said. “It’s something we’re required to submit to the commission for their use as they work toward an ultimate recommendation to Congress and the President.”
The Military Times was the first to report on the paper Thursday.
Officials say the options were prepared under the principle that changes would not apply to currently serving troops or to current retirees. In January, top Pentagon officials came out against a 1 percent reduction in the annual cost-of-living calculation for current working-age retirees.