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SVTPerformance's Chain of Restaurants
Road Side Pub
The Chow Hall
Whites Aren't Enlisting Anymore
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<blockquote data-quote="VegasMichael" data-source="post: 17000138" data-attributes="member: 105950"><p>Instead of the pension plan being a 100% defined benefit plan like it was when I was in, it is now a more hybrid type of plan that is part defined benefit, part defined contribution(the latter being sort of like a 401k. The government contributes a percentage of your salary and you can contribute some as well). </p><p></p><p>It's actually a good idea in my opinion. Most people don't put in 20 years or more so they leave with nothing for the future. Now you can have at least a small retirement account if you choose to serve less than 20. </p><p></p><p>This site explains it pretty well.</p><p>[URL unfurl="true"]https://www.militaryonesource.mil/financial-legal/personal-finance/frequently-asked-questions-regarding-the-new-blended-retirement-system/[/URL]</p></blockquote><p></p>
[QUOTE="VegasMichael, post: 17000138, member: 105950"] Instead of the pension plan being a 100% defined benefit plan like it was when I was in, it is now a more hybrid type of plan that is part defined benefit, part defined contribution(the latter being sort of like a 401k. The government contributes a percentage of your salary and you can contribute some as well). It's actually a good idea in my opinion. Most people don't put in 20 years or more so they leave with nothing for the future. Now you can have at least a small retirement account if you choose to serve less than 20. This site explains it pretty well. [URL unfurl="true"]https://www.militaryonesource.mil/financial-legal/personal-finance/frequently-asked-questions-regarding-the-new-blended-retirement-system/[/URL] [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
The Chow Hall
Whites Aren't Enlisting Anymore
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