MIL Overhaul of military pay and pension system

Discussion in 'On Topic' started by Accord, Mar 13, 2006.

  1. Accord

    Accord New Member

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    Retirement eligibility after only 10 years with 25% of your active duty salary every month :eek4:

    http://home.hamptonroads.com/stories/story.cfm?story=100945&ran=54308
     
    Last edited: Mar 13, 2006
  2. ManinCamo

    ManinCamo I wear big boy pants.

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    This was in the Air Force times. I don't feel that it really means more money in the long run.

    I'm against the changes.
     
  3. SweetDaddyO

    SweetDaddyO we need a montage!!

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    if it means single people stop getting screwed, then i'm all for it.
     
  4. Jyokker

    Jyokker The trouser snake is very aggressive. It will corn

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    Day late dollar short.
     
  5. Zourn

    Zourn 16-bit Ninja OT Supporter

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    It's not gonna be forced on anybody who is already in the service.
     
  6. shiba

    shiba Active Member

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    i msorry, but could someone clarify th current retirement plan for soldiers? is it 20 years and when you retire you get what you make a year as a soldier?
     
  7. Zourn

    Zourn 16-bit Ninja OT Supporter

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    if you retire at 20 years, you get 50% of the average of your 3 highest paid years (base pay only) divided by 12 every month. For every year after 20, you get 2.5% more, till 30, which makes 75%.
     
  8. Accord

    Accord New Member

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    :hsughno: 50% of your regular pay every year after 20 years seems like a good deal :hsughno:
     
  9. FarBeyondDriven

    FarBeyondDriven OT Supporter

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    Fucking DAWT.
     
  10. clever_username

    clever_username Active Member

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    it's suggesting that at 40 years you get 100%, but unfortunately, us enlisted folken can only do 30. wtf is the point? and fuck the officers, by the time they hit 30 they're at least an O-6 and makin bank
     
  11. SweetDaddyO

    SweetDaddyO we need a montage!!

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    38 is plenty young to have an entire other career
     
  12. SweetDaddyO

    SweetDaddyO we need a montage!!

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    you'd probably end up having to go to school just to make it 20 years, at least in the AF
     
  13. spyder007

    spyder007 Bаnned bу Ѕuреr Μоdеrаtоrs

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    :ugh:
     
  14. SweetDaddyO

    SweetDaddyO we need a montage!!

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    you'd be hard-pressed to find that deal in the civilian world - 40 years old making retirement pay?
     
  15. Dodger Blue

    Dodger Blue OT Supporter

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    Thats 24,000 a year you dont have to work for. Doesnt that include medical too? Most people who are in the military for 20 years have a decent chance at getting a decent job making decent money on the outside.
     
  16. fintheman

    fintheman I will ebay O/T!

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    " 2 grand a month is not enough to live off of"

    Sure it is, where do you live?
     
  17. SweetDaddyO

    SweetDaddyO we need a montage!!

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    understood, but it's a hella nice supplemental income.
     
  18. spyder007

    spyder007 Bаnned bу Ѕuреr Μоdеrаtоrs

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    a whooping 2 grand a month? When you're "retired" try living on that, tell me how that works.

    I'll work the extra 10 years and get 94% of my pay.
     
  19. Accord

    Accord New Member

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    There are those retirement communities all over the place for people on a fixed budget, most are pretty nice and pretty cheap.
     
  20. Jyokker

    Jyokker The trouser snake is very aggressive. It will corn

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    If you plan correctly when you are young, then 2 grand a month (adjusted for inflation) would be plenty to live off of. My grandmother lived off of $600 a month with a mortgage. It also depend on how frivolous you wish to live.
     
  21. Isamu

    Isamu New Member

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    That's very true.. i live off just over 1000$.. and that's because i have a car payment.. so every month i have about 1k to play with..
     
  22. widds2v

    widds2v Active Member

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    Only thing I dislike about the current pay system is that people who are stuck in their rank for long periods of time get outpaid by those who advance quickly. Example in my shop is a kid who has been an E4 for almost 5 years now, he's taken the E5 exam like 6 times and has never advanced even though the advancement rate for IT last cycle was like 78%. When I pick up E5 this september I'll be making about $600/month less than him, even though I made it in < 2 years. Other than that I think the retirement pay @ 60 is rediculous.
     

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