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The Department of Defense can change its retirement system to save billions of dollars and provide benefits to more veterans while still using it as a recruiting tool.

That’s the determination of the Rand Corp., which has produced a study that says reconfiguring retirement benefits from defined benefit to a combination of DB and defined contribution and changing various other aspects of the system can allow the DoD to cut expenses, provide current active-duty troops with more pay, offer incentives to retain troops in critical missions and still use retirement benefits to recruit prospective service members.

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