Re: Change the Military Retiree CPI Calculation???
Two retirement changes are in play.
One possible change involves how cost-of-living adjustments are calculated. The change, which would save up to $24 billion over 10 years, would apply to military and federal civilian retired pay, veterans disability, and survivor benefits. Instead of linking annual COLAs for benefits and retired pay to the Consumer Price Index for Urban Wage Earners (CPI-W), the new plan would link increases to the Consumer Price Index for All Urban Consumers (CPI-U). Estimates say this change would result in annual COLAs that average 0.25 percent less.
If adopted, the change from CPI-W to CPI-U would apply to all future cost-of-living adjustments, including for current retirees.
The second change involves a complete overhaul of military retired pay. In most discussions, the overhaul would not apply to any current retirees or anyone now in the military but would end the 20-year retirement system. Future service members would earn some retirement benefits after 10 years of service, but only people retired on disability would receive immediate retired pay. Those not retired on disability would wait until age 60 or older before retired pay begins.
Re: Change the Military Retiree CPI Calculation???
And how do you get an 18 year old to enlist by telling him that he'll be out after 20 years or so, but will then have to wait another 20 years or so to get any retirement. In the meantime, he has to hope his military experiance will help him compete against younger men for an available job.....Not going to be easy for the recruiters!
Re: Change the Military Retiree CPI Calculation???
Those that remained close to SOSUS at the end of their career had a good chance of getting a decient job. One more hurdle is that there are fewer managers that have served in the military and do not understand what a vetern has to offer. Rejection is often phrased as you have an income so you don't need a lot, we feel that you would not be confortable working under someone younger than you or you are over qualified for what we have available.
For the future and those in early (10 yr) retirement will have a tough time finding a rewarding job.
Marshall
Re: Change the Military Retiree CPI Calculation???
Right On Jack!
I think there are two benefits left that they can take back before all are gone. I guess with all the incentives gone there will be fewer volunteers. This means the draft will have to be reinstated so we can man the battle stations in the Middle East.
Re: Change the Military Retiree CPI Calculation???
A wise old Master Chief once said... "If it isn't broken... don't try to fix it." In this case Military reirement isn't what is broken. Military procurement is what needs fixing. Millions... Billions in cost overruns should not be allowed. If you bid the job... that is what you will be paid for the job. That change alone would negate any "need" to change Military Retirement.
All CPI changes are taken in little bites... and estimates are never large enough to encompass the actuals. See the below link for the facts.
Re: Change the Military Retiree CPI Calculation???
This Government is the most crooked, bunch of yokels that has ever been. They have all their perks and dont give a d a m n about the little people. I am just sickened knowing that my Social Security will be worthless in a year. The money it brings in will be eaten alive by inflation and the government playing with what the dollar is.