General Discussion

The billionaires and millionaires.

They did the same thing with military retirements. All under the guise of "saving money".

For example: I served 30 years in the Navy. I was under the defined benefit program. In that system, you got 50% of your highest base pay at 20 years of honorable service. You earned an additional 2.5 percent for every year over 20. So at 30 years, I received 75% of base pay on retirement. I was 55 when I retired.

Shortly after I enlisted, they changed that calculation to 50% of your "highest 36 months" base pay.

Let's use a simple calculation.

Suppose your highest base pay was $1,000. Under the system I joined, I would get $500 a month if I retired at 20 years.

Under the "high 3" system, suppose your high 3 base pay was $800, $900 and $1,000. They would take $2,700, divided by 3 ($900). At 20 years, you would get $450 a month under that system.

Now, with the "blended retirement system". Those percentages for "high 3" are down to 40% of high 3 base pay, but it also can be reduced if you take a "mid-year" bonus.

I am not arguing that the BRS is a bad deal, it does include a TSP Option, but the government's match to your contribution is capped at about 1%.

My issue is that this "cost savings" is sold by claiming that, if you don't serve 20 years, you get nothing.

That's not really true.

Since 2000, the TSP has been available for the military. We also contribute to Social Security.

Additionally, while some folks decide to get out after 4, 8, 10, 12 years, not all "leave with nothing".

If it's a Reduction in Force, there in a severance package.

Same for if you develop a medical issue that prohibits remaining on active duty. There is a severance package available.

My problem is that they will jump through fucking hoops to "cut" benefits, but ask them to raise taxes on the wealthy, and they scream bloody murder.