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A Cost Analysis of the Military Retirement System
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- The Online Military Retirement Calculator
June 29, 2009 | 4:56 pmAn online military retirement calculator estimates eligible pay during retitement years. Information input in the calculator can be varied according to different retirement expectations and current economic information.
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Archive for Retirement Articles »
- Is a Retirement Income Calculator the Tool to Use?
June 29, 2009 | 6:17 pmIn order to understand the value of money, estimates made using a retirement income calculator always have to be projected back from the future to current day dollars as if you were receiving income as of today.
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- Retirement Gag Gifts
June 28, 2009 | 12:32 pmMany individuals purchase retirement gag gifts that are funny or that make the individual feel light and emphasize on the funny side of retiring. Although such a gift might make somebody smile, you need to realize that it is not very special.
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A Cost Analysis of the Military Retirement System
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| A Cost Analysis of the Military Retirement System | |||||||||||||||
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| This is a AIR FORCE INST OF TECH WRIGHT-PATTERSON AFB OH SCHOOL OF ENGINEERING AND MANAGEMENT report procured by the Pentagon and made available for public release. It has been reproduced in the best form available to the Pentagon. It is not spiral-bound, but rather assembled with Velobinding in a soft, white linen cover. The Storming Media report number is A429224. The abstract provided by the Pentagon follows: This research explores possible changes to the current military retirement system. The research contains a detailed explanation of the current military retirement system and its objectives; a summary of the history and past legislation affecting private sector pension plans and the military retirement system; and a discussion of major analytic studies of the military retirement system since 1969 and their impact on the current system. The costs and benefits of three alternatives to the current system are analyzed using a deterministic and stochastic analysis. These alternatives are based on benefit structure changes not explicitly reducing costs. System restructuring would change the emphasis from cutting benefits to keeping costs constant (or lower) with an equal (or greater) benefit level. This restructuring approach is based on three defined contribution options that have varied contribution percentages. The contribution percentages are designed to provide different levels of incentive for continued military service. The analysis demonstrates that each alternative is an attractive consideration for the DoD because the alternatives are aligned with the objectives of the military retirement system, cost the government less to administer, and provide greater benefit annuities to the service member. | |||||||||||||||
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