View Full Version : Obama Outlines Mil Pay and Retirement Guidelines
BMT (RIP)
09-13-2013, 07:32
Chief among these, according to the three-page document, is that the commission does nothing to alter the current retirement system for those already serving, retired or in the process of retiring
http://www.military.com/daily-news/2013/09/13/obama-outlines-mil-pay-and-retirement-guidelines.html?ESRC=eb.nl
BMT
Also, he said, “while military compensation and retirement systems should prove a reasonable standard of living, they should be fiscally sustainable and impose the least burden on the American taxpayer.”
More than a little hypocrisy here. Is this standard also consider Congressional, government workers pay and retirement. I'd say the "Affordable Care Act" sure is not fiscally sustainable and is an imposition on taxpayers. :munchin
Oldrotorhead
09-13-2013, 09:30
More than a little hypocrisy here. Is this standard also consider Congressional, government workers pay and retirement. I'd say the "Affordable Care Act" sure is not fiscally sustainable and is an imposition on taxpayers. :munchin
Ask him about his Federal pension afet 8 years as Persicent and a short time in the Senate? He should wait until he is 65. Never mind when you are King you diserve it!:mad:
TrapperFrank
09-13-2013, 09:57
I am reminded of the Rudyard Kipling poem, which I will quote a few lines of: "Well, it's Tommie this and Tommie that, and chuck 'im out the brute. But it's savior of 'is country when the guns begin to shoot."
Lots of wind in that story. Very limited on anything solid.
Of course all the things they have floated out the past few years have been talked about on this board.
Whatever passes will be ugly and look for it to hit "Over 10" retention hard. Jeeez, if it's stupid enough maybe even "Over 6".
More than a little hypocrisy here. Is this standard also consider Congressional, government workers pay and retirement. I'd say the "Affordable Care Act" sure is not fiscally sustainable and is an imposition on taxpayers. :munchin
Not to disagree, but, any federal employee who started work after 1984 will get a 33% pension after 30 years, 44% after 40 years, etc. The govt also contributes 1% of salary each year to an IRA. For an employee making $60,000, that amounts to a $24K nestegg besides the example $20K per year pension.
Just want to get the numbers out there. I read a lot about the "huge pensions" in news and commentaries. Very few have the facts, I suspect.
Streck-Fu
09-13-2013, 18:35
The govt also contributes 1% of salary each year to an IRA. For an employee making $60,000, that amounts to a $24K
I'd hope that after 30 or 40 years, that 1% in an IRA is a lot more than $24k.....
And how many college educated civil service employees make as little as $60k? GS-11 has become a working wage for most a year or two out of college...
They get lot of year at $60k+
That pension and IRA are better than most in the private sector.
Paragrouper
09-13-2013, 19:07
Not to disagree, but, any federal employee who started work after 1984 will get a 33% pension after 30 years, 44% after 40 years, etc. The govt also contributes 1% of salary each year to an IRA. For an employee making $60,000, that amounts to a $24K nestegg besides the example $20K per year pension.
Just want to get the numbers out there. I read a lot about the "huge pensions" in news and commentaries. Very few have the facts, I suspect.
The money should be better when the duty sucks. Humping your ass around the world for mother army, playing pop-up target on command for twenty years, should have a payoff. The average Federal employee's career cannot compare.
The money should be better when the duty sucks. Humping your ass around the world for mother army, playing pop-up target on command for twenty years, should have a payoff. The average Federal employee's career cannot compare.
BTDT. Moved on an average of every 9 months while in uniform, and while I passed the Benning Ducking and Dodging course, I failed the practical exercise. ;)
And I agree wholeheartedly. However, I keep seeing the "big government pension" quote on many forums and in individual comments on the news websites. Thought I'd get some numbers out there. (Became a numbers cruncher for DA in my later years).
And for Streck-fu, Federal salaries decreased 9% over the last 40 years or so, when adjusted for inflation, while overall industry salaries increased about 11%. And, the $60k employee would have been getting about a $240 contribution from the govt in the beginning instead of the $600 in the latter years. The 24k nestegg I mentioned assumes growth to match inflation, but probably not many multiples of that.
Again, no argument. I just like to have the tools to measure.