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.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.