|New U.S. Military Retirement Plan and promotions changes
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Senate wants to overhaul the Military promotion system
Washington 4 December 2015 - The U.S. Senate recently addressed
the outdated military promotion system and they are talking about
overhauling the system especially, officer promotions.
"Promotions are handed out according to predictable schedules with
only secondary consideration of merit," said Sen. John McCain, R-Ariz.,
chairman of the Armed Services Committee. "That's why even after
more than a decade of service, there is essentially no difference in rank
among officers of the same age. Is it really because they all perform the
same or deserve the same rank?"
The officer promotion system was overhauled in 1980 by Congress to
consolidate a variety of conventions used by the military services, but
that system has since drawn criticism for being too inflexible, especially
in an era of fast-advancing technology that requires service members
with specific expertise. Talks will continue and any proposed changes to
the promotion system should be voted on sometime in 2016.
Changes to the Military retirement system were recently approved when
President Obama signed the $607 Billion budget and policy bill.
Starting in 2018, newly enlisted troops will no longer have the traditional
20-year retirement plan. Under the changes, it will be replaced with a
pension and investment system, featuring automatic contributions to
troops' Thrift Savings Plans and an opportunity for government matches
to personal contributions.
The new retirement system is expected to give roughly 4 in 5 members
some sort of retirement benefit when they leave the military, as opposed
to the current system which benefits only 1 in 5.