Pentagon Chief Open to Reconsidering’ Military Retirement System
Secretary of Defense Ashton Carter said Sunday he is open to altering the military retirement system but would not want changes forced on current or former service members.
A congressionally chartered Military Compensation and Retirement Modernization Commission submitted proposals last month to lower personnel costs in the Defense Department. It recommended changes to entice troops to opt out of the current pension system, which gives substantial retirement pay to those who serve 20 years or more but none to those who serve less time. The panel suggested all troops be automatically given a savings plan account that would sock away 3 percent of pay along with a contribution from the military.
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