US Plans to Cut Future Military Pensions 20%

A proposal by the US Department of Defense submitted to Congress would reduce military pensions by 20 percent after troops complete their 20 years of duty. For the first time, members of the US armed services will automatically, upon entry, contribute to their retirement plan from their current compensation, according to the white paper. “Future Service members will receive 80% of the current defined benefit (pension) if they serve for 20 years,” the six-page white paper sent to legislat...
More