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WASHINGTON - The military retirement system has long been considered untouchable - along with Social Security and Medicare. But in these days of soaring deficits, it seems everything is a potential target for budget cutters. A Pentagon-sponsored study says military pensions are no longer untouchable - they're unaffordable.
CBS News investigative correspondent Sharyl Attkisson reports high-level, closely-held meetings are taking place at the Pentagon regarding a radical proposal to overhaul retirement for the nation's 1.4 million service members - a bedrock guarantee of military service.
The proposal comes from an influential panel of military advisors called the Defense Business Board. Their plan, laid out in a 24-page presentation "Modernizing the Military Retirement System," would eliminate the familiar system under which anyone who serves 20 years is eligible for retirement at half their salary. Instead, they'd get a 401k-style plan with government contributions.
They'd have to wait until normal retirement age.
Originally posted by Vitchilo
Come on military, do your job, arrest the enemies of America, foreign AND DOMESTIC...aka the politicians who screwed America and their banking masters... you actually now have a self-interest reason to do so...edit on 15-8-2011 by Vitchilo because: (no reason given)
Originally posted by links234
So...why is this bad? Name me another way you can retire at 38 with $2,000/month guaranteed for life.
There's a lot of really great, deserving members of the military. However, there is a disturbingly high level of hero worship afforded to lots of people who have done a lot less then others.
I'm a veteran, I don't salute every flag I see. I don't drop the fact looking for someone to open a door for me (literally or figuratively). I did a job and got paid.
Go ahead, hate me. I'm a veteran after all.
Originally posted by InnerstellarOne
The moment war ceases, Is the moment life increases
Originally posted by sbctinfantry
I'm pretty sure the military would be fine if contractors weren't making six figure salaries doing the same job. It's really not a discussion anymore when you throw in that little fact, is it?
List of US Defense Contractors
List of Private Military Contractors
The sad thing is, you can't get a number on exactly how many contractors are actually working for the US government. The best number I can find is from 2007, that says for every five soldiers there is at least one contractor. I would add that they don't even explain that the average contractor makes far more than any enlisted man in the military, and at least as much as the higher ranking officers in the military. Once you start getting into the more specialized contractors, they are making six figures. Some make into the multiple hundreds of thousands a year.
But, we should cut the military.edit on 2011/8/16 by sbctinfantry because: (no reason given)
Originally posted by tangonine
Yup. I was one of those contractors. But there are only 2 choices: militarize all the required infrastructure or contract it out.
When I was a young buck in uniform we mowed our own grass, took out our own trash. Then Bill Clinton became president and in came the contractors. Start the blame squarely with him.
EDIT: and I was making 6 figures. Left that job because my baby Jenday Conure, Chilly got sick and required hand feedings every 3 hours (literally) for 8 months to nurse her back to health.
The life of a parrot, my parrot, is worth more than $103K/year.edit on 16-8-2011 by tangonine because: (no reason given)
Originally posted by links234
reply to post by Xeven
The military (other than the infantry) affords a LOT of time to complete school. I've known plenty of people separate with masters degrees after six to eight years. I've also known people who squandered their time and left with nothing but experience. Business relationships? DoD contractors will consistently hire ex-military, there's some statistics I'd like to see...ratio of DoD contractors that are ex-military to average civilians.
I speak from experience, I'm doing the same job I did years ago in uniform...I get paid a lot more now though.