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veteran and spouse Military spouses are often the financial decisionmakers of the household, particularly in the case of long deployments that take the servicemember away from home for years at a time. (Photo: Shutterstock)

The military’s new blended retirement system, which drastically changes how servicemembers’ retirement income will be decided, offers more risk and less security than the original pension, according to First Command Financial Services, since it cuts the traditional pension by 20 percent but offers a confusing array of other features.

Choosing between the new and the old plans, for those who are given a choice, is a big decision. Unfortunately, the new plan isn’t well understood by servicemembers or their spouses.

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Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

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