Military families concerned about overhaul of retirement system
A plan to phase out the traditional 20-year pension offered to military employees in favor of civilian-styled 401(k) retirement programs has military families concerned.
By Andy Stonehouse|March 27, 2012 at 11:33 AM
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Following in the steps of many major U.S. corporations, a major American institution of its own is opting to swap out pensions for a 401(k) plan for its employees.
But when that employer is the U.S. military, the notion that pensions - for so long a cornerstone of and a motivating factor for extended military service – may be phased out in the future, comes as an unsettling notion to many military families.
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