Posted on Jun 28, 2014
If the military went to a 401k plan, do you think more people would leave sooner?
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If the military went away from the retirement benefits and went towards a 401K plan, do you think SM's would stay in after they learned their skills and/or earned a certification in their specific job?
Retirement
Retention
Re-enlistment
Posted >1 y ago
Responses: 9
Yes, I don't believe many people actually stay in just for retirement... I don't think it's even a serious consideration for most until they get 10-15 years into their service.
Besides, people who are staying in the military just because they are "sticking around for retirement" are not necessarily the people the military would want to encourage retaining.
Besides, people who are staying in the military just because they are "sticking around for retirement" are not necessarily the people the military would want to encourage retaining.
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LTC Yinon Weiss
SFC Chris Smith -- There is nothing wrong with earning what you receive, and for expecting fair compensation. I was more referring to people who are ONLY sticking around for retirement... the ones that are sometimes known around the office as getting nothing done and there is nothing you can do with them because everybody knows that they are just there waiting to retire, which for some people is years.
That's why a sliding scale of a 401k works well, because you are fairly compensated for every day you serve, but have no incentive to stay a day longer than you feel motivated to serve.
That's why a sliding scale of a 401k works well, because you are fairly compensated for every day you serve, but have no incentive to stay a day longer than you feel motivated to serve.
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As someone who currently contributes to a 401k, the TSP, and a Roth IRA for retirement, I can tell you I would certainly leave the service earlier if they removed the great benefits we have. I love the military, absolutely love it and those who serve, but every day it feels more and more like the people we are serving, and the people we are working for, do not appreciate us. Many of those in the higher up positions in government, I feel, do not have the respect for the military and the sacrifices we make. This can also be seen by the entitled behavior of the civilians that we are fighting to protect.
The benefits are there to make a risky and sometimes crappy job about more than just your personal pride and service, which can be taken too far.
The benefits are there to make a risky and sometimes crappy job about more than just your personal pride and service, which can be taken too far.
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I don't they would stay as long or maybe not even join. Most Soldiers love the retirement idea and getting paid. If Soldiers had to pay into their own retirement plan they would not like it. It is paying to put your life on the line...not cool
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MSG (Join to see)
I think that if it was to change now and have zero effect on those currently in the effect would be minimal. Right now would be a good time for it to change the down draw and manning reductions. I believe we would still hit recruiting numbers annually.
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