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re: Disposable: Paul Ryan's Budget Epitomizes How Washington Actually Sees Veterans
Posted on 12/27/16 at 12:02 pm to WhiskeyPapa
Posted on 12/27/16 at 12:02 pm to WhiskeyPapa
You are being entirely disingenuous with your characterization of this.
The adjustment is for younger retirees under the age of 62. So, if someone joins the Navy at age 18 and retire at age 38, with a full 20 year pension, they will be in that "double dipping" period in their life, where they get a Navy penion, while working at another job.
During that period of time between the ages of 38 and 62, the Navy pension will grow at a 1% slower rate of growth than it used to. Once the retiree reaches the age of 62, their pension will be recalculated so that it will be where it would have been if he or she had received the full inflation adjustment every year since he or she retired.
So, it only impacts the veterans during that "double dipping" stage of life, and not when the veteran truly reaches retirement age.
In addition, the armed forces have changed their retirement plans so that it includes a 401K option, which will benefit those who choose not to serve the full 20 years, and the 401K plan has some very generous matching contributions to help our active duty servicemen and women to plan better for their retirement.
The adjustment is for younger retirees under the age of 62. So, if someone joins the Navy at age 18 and retire at age 38, with a full 20 year pension, they will be in that "double dipping" period in their life, where they get a Navy penion, while working at another job.
During that period of time between the ages of 38 and 62, the Navy pension will grow at a 1% slower rate of growth than it used to. Once the retiree reaches the age of 62, their pension will be recalculated so that it will be where it would have been if he or she had received the full inflation adjustment every year since he or she retired.
So, it only impacts the veterans during that "double dipping" stage of life, and not when the veteran truly reaches retirement age.
In addition, the armed forces have changed their retirement plans so that it includes a 401K option, which will benefit those who choose not to serve the full 20 years, and the 401K plan has some very generous matching contributions to help our active duty servicemen and women to plan better for their retirement.
Posted on 12/27/16 at 2:16 pm to Jax-Tiger
quote:
In addition, the armed forces have changed their retirement plans so that it includes a 401K option, which will benefit those who choose not to serve the full 20 years, and the 401K plan has some very generous matching contributions to help our active duty servicemen and women to plan better for their retirement.
The government should revamp retirement benefits with a transition period before doing anything drastic. I feel the 401k route is cheaper and more efficient way of handling retirements.
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