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Old 02-09-2016, 08:48   #1
SouthernDZ
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Join Date: Feb 2007
Location: Texas
Posts: 656
New Military Retirement Law Effective 1 Jan 2018

http://www.militarytimes.com/story/m...oops/79347998/

"It's the biggest change in decades for military compensation. For the first time, the military will offer some limited retirement benefit, similar to 401(k) contributions, to troops who separate before reaching 20 years of service. Historically those non-career service members — more than 80 percent of the force — received no retirement benefit.

Officially the new retirement system takes effect Jan. 1, 2018. After that, all troops coming out of boot camp will be automatically enrolled in the new benefit as the traditional pension plan is phased out.

Yet for today’s troops, and anyone who joins during the next two years, the new law includes a grandfather clause that will allow them to choose to remain under the traditional all-or-nothing retirement system."
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