Troops would delay retirement for a pay raise, report says

According to a recent report byTodd Harrison of the Center for Strategic and Budgetary Assessments, a majority of troops would rather have a small (as little as 1%) raise and push off retirement benefits to age 50.

For soldiers under the age of 29, the increased pay would be at least $250/year, for soldiers 30-39, the amount is $520/year, and for soldiers aged 40-49 the amount is $650/year. Officers usually retire at age 47, and the three years of retirement pay they would give up under this new plan amount to around $190,000, while enlisted men, who retire around age 43 would give up about $277,000 over the seven years of retirement pay.

The survey also found that soldiers young and old prefer the current 20 years of service for full retirement benefits, versus plans with both shorter and longer times of service.

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The survey also found that

The survey also found that soldiers young and old prefer the current 20 years of service for full retirement benefits, versus plans with both shorter and longer times of service.

Thanks for this post.

Thanks for this post. Investors had reason to be excited when they learned of the offer last week of new guarantees on retirement savings. After all, anyone who watched their 401(k) balances shrink during the financial crisis can remember fearing that a key retirement safety net might disappear. It's really a recognition of the state of retirement for most Americans and the desire to be able to provide a nice wrapper, a guarantee, around pension benefits. A lot of individual investors do not necessarily manage their 401(k) or IRA assets well, and those assets could well run out in their early retirement years.