Posted on May 11, 2015
Does anyone know if there is updated or proposed legislation on changing the Reserve Retirement Benefits?
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I have retired from the US Army after serving a total of 37 years made up of active duty, deployments, the Illinois Army National Guard and the US Army Reserves and will be hitting that magic age of 60 soon. I'm curious if the reserve retirement benefits are up for change or if there is legislation pending to make a change in the near future. Any information from my fellow veterans or reservist on this subject is much appreciated (good or bad)!
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Posted >1 y ago
Responses: 4
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Yes, this is an active process right now, but no changes or decisions have been made. The Congress/Army (DOD) wants to go to a 401k style retirement, with provisions for early retirements. Last I heard 20 years would drop to 40%. But, this will be all for the future. As always, so they say, those already serving or retired will be grandfathered. The are articles posted weekly on this.
http://www.militarytimes.com/story/military/benefits/retirement/2015/04/27/retirement-overhaul-concerns/26244915/
http://www.militarytimes.com/story/military/benefits/retirement/2015/04/27/retirement-overhaul-concerns/26244915/
Military retirement overhaul on fast track
Congress is moving ahead with an end to the current all-or-nothing system, but critics want the process slowed down.
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Improving in them I am sure Colonel! I only retired as an E7 after four on active and 22 in the reserves. I can't complain much about my pay as I was getting paid well for going to meetings and admin drills along with extra overseas summer camps. The main reason i didnt go any higher in rank, I was enjoying the overseas trips more than going to any NCO schooling. It was a good run.
I live two miles form Naval Station Newport where I also retired as an Air Force civilian so I use the PX and commissary all the time. Some nice saving at the commissary but you need to be a smart shopper at the PX which i am not. My only regret now is that I should have went your route and I'd be really making the big bucks now! :-)
I live two miles form Naval Station Newport where I also retired as an Air Force civilian so I use the PX and commissary all the time. Some nice saving at the commissary but you need to be a smart shopper at the PX which i am not. My only regret now is that I should have went your route and I'd be really making the big bucks now! :-)
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COL Mikel J. Burroughs
SFC Farrell thanks for your service! Your situation sounds similar to mine. I live right outside Camp Pendleton here in lovely Oceanside, CA. My better half works at the MRX on base, so there are a lot of benefits to having a base close by. I came from the enlisted side of the house, so never second-guess what you could have done or should have done! You did what was right for you. No regrets enjoy your service to country and the benefits you earned!
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There are always several bills in the process, I think there are four right now, most will never see the floor. Most of the bills seem to be pushing for a 401K benefit at reduction in pension. The only thing I'm sure on is that not much will happen in the next two years.
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COL Mikel J. Burroughs
Thanks CPT Glover for the information. I guess that means I might make it under the current system before any major changes. One can only hope!
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COL Mikel J. Burroughs
Good for you - keep up the good work and pretty soon I'll be calling you Colonel!
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MAJ (Join to see)
Doubtful, my ambitions end with LTC, however I am eyeing a nice GS-15 position. Just too difficult to manage them both so my priorities go to my civilian job, and my Soldiers, not much left for pandering dishonest reports. (bitterness coming out)
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