27 Jan '15, 11pm

Panel will propose new military retirement system via @MilitaryTimes

Panel will propose new military retirement system via @MilitaryTimes

A report to be released Thursday is expected to call for major changes to all forms of military pay and compensation, including health care and retirement plans. (Photo: Getty) CONNECT 83 TWEET LINKEDIN COMMENT EMAIL MORE The long-awaited report on military compensation set to drop Thursday will propose fundamental changes to military retirement and health care benefits, according to several people familiar with the report. The Military Compensation and Retirement Modernization Commission will propose detailed legislation to phase out the current 20-year cliff-vesting pension payable immediately upon leaving service, according to people who have been briefed on the report but requested anonymity before discussing its recommendations. The plan calls for Congress to create a hybrid system that includes a smaller defined-benefit pension along with more cash-based benefits and...

Full article: http://www.militarytimes.com/story/military/benefits/2015...

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