Off-Topic: Military Pensions after 20 years service

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	Name:	Feb -
	Subject:	Military Pensions after 20 years service
	Date:	9/8/2011 7:46:08 PM

I believe you stated once before your Spouse was a retired Civil Servant. I do not recall whether it was from a State or a Federal career.

You maybe aware the Federal Government revised their retirement system in 1984. They went from the Civil Service Retirement System to the Federal Employee Retirement System.

Unlike the Military, Federal civilian employees have alway paid into their retirment funds. When I retired, the Government deducted 9% of my pay and placed it in our retirment system. So over my 35 year career, I paid anywhere from 7 to 9% of my paycheck every two weeks into the retirement fund. Many, many years ago Federal employees got back their invested amount when they retired and started drawig retirement pay. This must of been nice. In later years (when I retired) we no longer received our vested payment and only started drawing our retiremet based upon years of service and your highest average three years of pay. In my case this was and is significantly less than my working paycheck. I was able to adjust based upon the fact I was no longer buying gas to commute 40 miles every work day and not paying $125.00 a month to park my car (this was not tax deductible).

The newer Federal Employee Retirement System is even more about individul employees contributing from their pay check (many around 15%) into their retirement program. Not many employees on the outside of Government have their employees paying anything out of their paycheck into a retirement fund.

You may want to research it if you happen to think it is a great system for the employee. It is more akin to an investment program for retirement.

I personally believe we best leave our Military Retirement System along if we expect to draw quality men and women into service.

I am not familiar with state and local civil service retirement systems.

In summary, my key point is Federal Civil Servants have had their retirement system revamped. There is always hope our illustrious Congressional leadership can screw it up worse. Now, here is a good place to start looking at retirment systems (that of our elected Congressional Represenatives).

Other messages in this thread:

View Entire Thread

Military Pensions after 20 years service - 4691 - 9/8/2011 11:30:50 AM

Military Pensions after 20 years service - MartiniMan - 9/8/2011 3:59:43 PM

Military Pensions after 20 years service - Feb - 9/8/2011 7:46:08 PM

Military Pensions after 20 years service - MartiniMan - 9/9/2011 8:20:35 AM

Military Pensions after 20 years service - Feb - 9/9/2011 9:12:38 AM

Military Pensions after 20 years service - MAJ USA RET - 9/10/2011 9:33:43 AM

Military Pensions after 20 years service - 4691 - 9/12/2011 1:39:09 PM

Military Pensions after 20 years service - Talullahhound - 9/13/2011 8:12:01 PM

Military Pensions after 20 years service - MAJ USA RET - 9/14/2011 2:47:48 PM

Military Pensions after 20 years service - MrHodja - 9/8/2011 5:13:39 PM

Military Pensions after 20 years service - Talullahhound - 9/8/2011 11:32:49 PM

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