This is becoming less common from what I have read. Many employers are offering very low match rates, or none at all. My classmates that went into industry instead of academia in the last four years are not getting employer matches.Originally Posted by JV
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You get less money until age 62, so while the cost of living skyrockets from inflation, you get stuck with an ever increasing void. Yeah sure that's cool...
No people don't serve for the money, but they sure don't serve 20+ years to be lied to and have there retirement, healthcare and benefits package reduced/taken away. Its complete BS. This country is going to take away from the one's who earned their way, and continue to give it to those who won't get off their butts and put in the time...
Yep that makes perfect sense....I don't know why any retired service member would be upset with that. CRAZY!
Unfortunately the reality of the situation is that this is the tip of the iceberg.
Consider for a moment that 50% of the money they are paying you(and spending on your healthcare) is being borrowed. Guess what happens when the Government can't borrow that 50% anymore.
Frankly I hope this is a wake-up call for anyone who was expecting to survive on their "promised" pension or retirement package. The money flat-out does not exist and the situation is getting worse every day.
I agree its wrong. I agree we shouldn't be doing this to veterans. We should be calling out out our Pols on the BS they are parroting on the news. "Hurray us! We "cut" spending by promising to reduce an increase in spending by 1% 3 years from now!"
Last edited by littlejerry; 12-18-2013 at 11:04 PM.
Cutting the pay for our military retires is despicable. Congress and the president should cut their pay and retirement benefits before cutting anyone else's.
Pat
Agree. They may not serve for the money but they do have to pay the bills and make a living just like anyone else. Our vets deserve better than this.
Pat
Yes and they earned those retirements. I am totally against doing away with defined benefit. The problem with 401k's is you can be fine if the markets fine and if its not you can't retire. Generally 401K's are no where close to what defined benefit retirements paid out. I feel bad for our new hires that are on 401K's Most will probably never be able to retire unless they get work some where outside of law enforcement later on.
pat
Welcome to the real world , it is about time you joined us.
I see nothing funny about someone loosing benefits but it is simple math , the benefits never should have been offered in the first place if the money was not there to cover them. In the private sector when a company goes bankrupt all deals are off and benefits are gone. I lost retirement medical and a pension when a company I had 17 years in with filed bankruptcy. The gov't is out of money and everything should be cut. Deserve or not has nothing to do with it.
Was Tricare also included in the long term promises? It was created in '96 and required a 27% contribution. That's been lowered to 11%. It was due to be hiked in 2014 but this new budget deal stopped that. A family friend, retired military with kids in school told us they pay $600 in change a year for Tricare. (Is that representative? IDK) When I was raising a family I was paying $800 per MONTH. Health care for civilians has only gone sideways since. We now see millions thrown off these plans and facing worse deals. So who is working up the value of Tricare and compounding that amount across 30-40 years?
$100B annual spend on personnel and I fail to see a country betraying it's retirees (17% of those who serve). I've searched with no luck on how much more generous any other nation on earth is in this regard but I'm all ears if anyone knows.
Now the enlisted vets that did an enlistment or two and did multiple combat tours then got out? I'd be more concerned about them and their transition.
As I am for those who will face the next nasty war and clean up the current ones. All of whom needed some DoD relief which they got from this deal.
“Remember, being healthy is basically just dying as slowly as possible,” Ricky Gervais
Not a fix, IMO. Most folks simply will not save adequate amounts unless you force them to do so.
"PLAN FOR YOUR TRAINING TO BE A REFLECTION OF REAL LIFE INSTEAD OF HOPING THAT REAL LIFE WILL BE A REFLECTION OF YOUR TRAINING!"
True. My point is that we would be better off to require it across the board, all businesses, all employees, not just military.
"PLAN FOR YOUR TRAINING TO BE A REFLECTION OF REAL LIFE INSTEAD OF HOPING THAT REAL LIFE WILL BE A REFLECTION OF YOUR TRAINING!"
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