Wednesday , September 23 2020
Breaking News
iStock_000009582760XSmall

Changes to Military Retirement Benefits in the Works

By Bridget Naso, January 28th, 2015

For the first time in a quarter century, the military is likely changing retirement benefits, and new recommendations are going to Congress.

Congress tasked the Military Compensation and Retirement Modernization Commission to take a look at military benefits two years ago because they felt the government couldn’t sustain the costs.

Since then, the group has been traveling to bases across the U.S. to get feedback and talk about how to transform the benefit structure. On Thursday, they are expected to propose detailed legislation.

The idea is to cut costs and address the evolving military mission. According to the Military Times, the new structure will phase out the 20-year, cliff-vesting pension, and there will likely to be a hybrid or a 401(K)-style plan available for service members.

Read More

About AgenteNews

AgenteNews
Agent eNews is an online resource for professionals in the insurance and financial services industry designed to provide the tools, expertise and insight to help grow their business. Written by leaders in the insurance and financial services industry, as well as experts in business development, Agent eNews is a business building resource. Agent eNews reaches 500,000+ producers. To contribute to Agent eNews, contact Editor@AgenteNews.com.

Check Also

200488660-001

Self-Marketing: The Salesperson’s Other Job

Even highly experienced and successful salespeople can have a blind spot. They can be so …

Leave a Reply