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Reforming the Military Retirement System

Reforming the Military Retirement System

by John T. WarnerRichard Johnson and Beth J. Asch
Paperback
Publication Date: 01/03/1998

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The authors summarize the principal features of a model of military compensation developed by the authors earlier and use it to analyze the effects of converting the current military retirement system to an alternative system patterned after the Federal Employees Retirement System. The three parts of the alternative system are a retirement plan similar to that for civil service employees, a 7 percent across-the-board pay increase to counteract mandatory contributions under the new plan, and a set of retention bonuses targeted to address any retention problems. Because the alternative system may not create the services' desired seniority profiles, a larger set of pay raises, retention bonuses, and/or separation payments would be added. In addition, the authors recommend that pay raises be skewed--be higher in the higher ranks. The authors consider the implications of this proposal in terms of the effects on cost, force size and structure, productivity, and force management flexibility.
ISBN:
9780833024633
9780833024633
Category:
Pensions
Format:
Paperback
Publication Date:
01-03-1998
Language:
English
Publisher:
Rand
Country of origin:
United States
Pages:
89
Dimensions (mm):
225x135x6mm
Weight:
0.18kg
Richard Johnson

Richard Johnson works from his studio with his partner, situated on the edge of a large wood in Lincolnshire, England. He is a professional freelance illustrator with 18 years experience working within the industry.

He specialises in Children's Book illustration but has also developed illustrations for Packaging Designs, Advertisement Campaigns and Newspapers and Magazines.

He is also teacher on the Graphic Communication and Illustartion programme at The University of Loughborough and an Associate Fellow of the Higher Education Academy.

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