Military pensions unaffordable? Like to hear some retired vets on this

[gunowner930]

Radical overhaul of military retirement eyed - CBS News

We're all told upon enlisting in the military that we can retire after 20 years of service. However, a recent pentagon sponsored-study is now indicating that retirements after 20 years are unaffordable. They claim that 401Ks should be used for military pensions. Furthermore, they want to raise the age that a retired servicemember is eligible to collect their 401ks. But they do say it will be more fair for those that don't stay a full 20 years since they will be able get "something" from their service.

I did 5 years and got out. I'm getting a college education out of my service, I'd hardly say say I walked away with "nothing." Retired military vets are guys that busted their ass for 20 years or more in hellhole countries working ridiculous hours, got shot at, and spent irreplaceable time away from their families when they deployed. How about we not cut benefits to Federal employees that are actually useful.

 

[redneckmedic]

Everyone like to praise the hero's in public safety, whether it be LEO, FD, or military... until it comes time to pay them. It's all superficial BS to me.

 

[Pocketman]

It's been this way since 1783.

 

[SSGSAD]

Everyone like to praise the hero's in public safety, whether it be LEO, FD, or military... until it comes time to pay them. It's all superficial BS to me.

It is all POLITICAL BS .....

 

[rambone]

The pensions might be affordable if we didn't have a military 6 times as big as any other.

 

[rambone]

Personally I think there should be no such thing as "government retirement/pension." Pay the government employees their wage. Let them invest it as they please. Its their responsibility to plan for the future, not the taxpayers'.

What sense does it make for someone to work for 20 years and then receive a government pension for the next 40, or even 60 years? Its all a ponzi scheme. Not much better than Social Security.

 

[redneckmedic]

Personally I think there should be no such thing as "government retirement/pension." Pay the government employees their wage. Let them invest it as they please. Its their responsibility to plan for the future, not the taxpayers'.

Tax payers pay our salary package, % of that is dedicated into an account, which grows larger with more folks in it. Tax payers also pay my health benefits, and my life insurance, both which are significantly cheaper since the police and fire are enrolled with the office chair sitters and sewer scrubbers, as our healthier life style as a whole brings down the premium base. It seems lots of folks have opinions with having any real facts.

 

[sadclownwp]

Personally I think there should be no such thing as "government retirement/pension." Pay the government employees their wage. Let them invest it as they please. Its their responsibility to plan for the future, not the taxpayers'.

What sense does it make for someone to work for 20 years and then receive a government pension for the next 40, or even 60 years? Its all a ponzi scheme. Not much better than Social Security.

I gotta look outside and make sure this is not hell, then check the temperature and make sure its not freezing cold. I think this is the first time me and Rambone have ever agreed on something.

 

[superjoe76]

Well, if the do 20 and get a pension is what the deal is, then it should be honored.

Create a new offer for those enlisting today and create a 401k. As the saying goes, "Its a huge sh*tburger, and we're all gonna have to take a bite."

 

[INRanger]

I also paid into my pension fund for 20, does that mean im an entrepreneur? In all seriousness we earn our pensions, by the time I hit my retirement the only thing holding my body together is band-aids, bubble gum and positive thinking. I gave my body my youth and more than a few of my friends is honoring the deal that my country made not the right thing to do? I come from SOF and honestly their is waste but is fair compensation for a lifetime of service waste? To be fair I loved every ****ty second. But as a man of honor I went places and did things the least society can do is honor the bargain made. If a pension and other benefits were not available then men such as myself could never have afforded to serve so long and if you believe anything in this out of character rant, believe me when I say you benefited. out of breath must lay down now.

 

[flatlander]

I also paid into my pension fund for 20, does that mean im an entrepreneur? In all seriousness we earn our pensions, by the time I hit my retirement the only thing holding my body together is band-aids, bubble gum and positive thinking. I gave my body my youth and more than a few of my friends is honoring the deal that my country made not the right thing to do? I come from SOF and honestly their is waste but is fair compensation for a lifetime of service waste? To be fair I loved every ****ty second. But as a man of honor I went places and did things the least society can do is honor the bargain made. If a pension and other benefits were not available then men such as myself could never have afforded to serve so long and if you believe anything in this out of character rant, believe me when I say you benefited. out of breath must lay down now.

This. After 21 years my body was/ is trashed. The people that want me to "invest" in a 401k etc obviously don't realize that the options then were not like they are today when we started our trek. Do I believe that I should recieve my pension? Of course. I delivered a service, under a written contract and it should be honored. I don't see where there is any wiggle room.

Bob

 

[adam]

The pensions might be affordable if we didn't have a military 6 times as big as any other.

How many of that 43% actually retire? Very very few.

In the National Guard, you have to wait until you are 60 to pull the pension. Wouldn't be surprised if that is offered as an alternative.

 

[INRanger]

Nobody wants to see us waxing lots of civies carpet bombing our enemies on CNN. No one wants to see thousands of casualties a month like Vietnam and previous on CNN. Everyone wants us to have the capabilities to come to the rescue when what ever foreign country they happen to find themselves in goes south. No one wants to see another country threatening to invade or bomb us over every transgression on CNN. Everyone enjoys the fact that your kids have never heard an air raid siren or practice fire/tornado drills and not attack drills in school. These things cost money. Its easy to complain about military spending when when the consequences for not having the most powerful military in the world are academic at best or someone elses nightmare.

 

[badwolf.usmc]

Personally I think there should be no such thing as "government retirement/pension." Pay the government employees their wage. Let them invest it as they please. Its their responsibility to plan for the future, not the taxpayers'.

What sense does it make for someone to work for 20 years and then receive a government pension for the next 40, or even 60 years? Its all a ponzi scheme. Not much better than Social Security.

I would counter that there should not be any type of retirement or pension, government or civilian, that would include 401k. Did the founding father's have 401ks? They seemed to do pretty well for themselves.

 

[cbseniour]

Congressmen and Senators get a full pay pension after serving one term. What's wrong with this picture??

 

[Kitty]

Congressmen and Senators get a full pay pension after serving one term. What's wrong with this picture??

This! 20 yrs in the military - you've earned something. 4/6 yrs crying, whining and voting yourself a raise - sit down and shut up.

 

[Dogman]

So they want to screw over our retired Military who have served and protected this country for twenty years. But they want to give more entitlements to people that won't go out and get a job, sit at home all day eating bon bons watching Jerry Springer.
Makes one wonder how these people were raised for them to think this way. We better hope for a "Change" come 2012.

 

[Plinker]

Not to threadjack but...

I don't trust that chart 100%, mainly because I don't trust any financial report put out by China, especially one dealing with military expenditures. I'd almost bet that that 7.3% is way too low.

Back on topic, I'm interested to know how much, as a percentage, the military spends on pensions and healthcare for veterans, because I'm sure it's not a huge percentage compared to their overall budget. Not that many people make it 20 years in the military.

Now prolonged conflicts in the Middle East, that would be a major reason for bloated military budgets...

 

[IndySSD]

Congressmen and Senators get a full pay pension after serving one term. What's wrong with this picture??

This! 20 yrs in the military - you've earned something. 4/6 yrs crying, whining and voting yourself a raise - sit down and shut up.

Amen.....Some assclown gets elected to congress for 10 years and gets free medical and 175k per year minimum for the rest of his life...... Someone spends 20 years doing what they are told, abusing their bodies and minds in defense of our country and people think they are being over paid. when they make 35-50k per year with a similar retirement plan.... WAKE UP PEOPLE!

 

[JFrost]

We have an all voluntary military. It is hands down the most potent, powerful, and most motivated fighting force in the world. If you cut pensions, remove the perks, fail to honor your word, etc... You will lose this vital edge, you will end up with the mal-contents, the criminals, the 'rest'. Retention rates in the Army are around 3%, Air Force around 25%. Not many retire out. The few dollars saved would not be worth the results.