Career military service members don't think much of the new retirement option.
Changes to the military retirement system, currently a traditional pension, made in the 2016 National Defense Authorization Act. Under the Act, approved in October, were recommendations that came from the Military Compensation and Retirement Modernization Committee.
Under those recommendations, the current military pension—a 20-year, all-or-nothing system—will end and be replaced by a 401(k)-style investment plan or the pairing of a reduced pension and a lump-sum bonus.
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