RETIREMENT CHANGES
James Beraducci, chief aviation ordnancemen, and the side boys at his retirement ceremony bow for a prayer during the first squadron retirement ceremony for the Spartans of Helicopter Maritime Strike Squadron 70.
James Beraducci, chief aviation ordnancemen, and the side boys at his retirement ceremony bow for a prayer during the first squadron retirement ceremony for the Spartans of Helicopter Maritime Strike Squadron 70.
Photo Courtesy of the Navy.

Pentagon Sends Retirement Plan Recommendations To Congress

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The Defense Department released its official recommendation for changes to the military retirement benefits plan to Congress on Wednesday. After months of debate, the Pentagon is supporting a blended system that would reduce the size of the existing pension plan by 20%, but also offer matching contributions to individual retirement investment accounts.

These recommendations represent the first time that the military’s retirement plan would offer retirement benefits to the many service members who leave before reaching the 20-year mark required for the traditional pension.

Get the full story at Military Times.