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MegaJay · 01-30-2015, 06:09 PM

If your a retiree under 65 or still serving this matters to you and your family.

The MCRMC released its final report and also provided legislative proposals to make it easier for Congress to implement quickly.

Here is the link to the MCRMC website and the report:

Home - Military Compensation and Retirement Modernization Commission

Here is a brief and preliminary summary by the MOAA:

Commission Suggests Radical Reforms : MOAA

Here is the same type summary by the military times:

Panel will propose new military retirement system

Doggy Daddy · 01-30-2015, 08:23 PM

This does not affect those who already retired from the military.

Congress prohibits the Commission's recommendations from affecting the retirement eligibility date or the amount of retirement pay to the detriment of Service members serving or who have retired before such recommendations are enacted.

MegaJay · 01-30-2015, 08:49 PM

Quote:

Originally Posted by Doggy Daddy

This does not affect those who already retired from the military.

Congress prohibits the Commission's recommendations from affecting the retirement eligibility date or the amount of retirement pay to the detriment of Service members serving or who have retired before such recommendations are enacted.

Concerning the direct payment compensation piece it is supposed to be grandfathered as currently written that is correct, however the dependent medical part is potentially not as protected.

MegaJay · 01-31-2015, 08:45 AM

Here is a military times article focusing on the medical part of this report, it explains it a little better.

To keep it RV relevent these changes if implemented could possibly improve working age retirees ability have portable access to health care. It looks like it might cost more but still be less expensive than most civilians have to spend. Snowbirds and FT RVers may benifit...have wait and see.

http://www.militarytimes.com/story/m...care/22531203/

MegaJay · 02-08-2015, 03:31 PM

At the bottom of this article is a link to a survey on what you think about the MCRMC recommendations:

Commission Pitches Reforms to Congress : MOAA

MegaJay · 02-08-2015, 03:42 PM

Good military.com article on the potential for some of MCRMC to be enacted as son a FY16 NDAA.

"McCain and Graham have told staff they hope to include at least some commission recommendations in the fiscal 2016 defense authorization bill."

http://militaryadvantage.military.co...-capitol-hill/

Ray,IN · 02-08-2015, 06:23 PM

This may not affect retirees, but it's sure going to affect future careerists decisions. With about 1% of the U.S. population either in the military or retired, this seems like a drop in the U.S. financial bucket.

MegaJay · 02-08-2015, 07:12 PM

POV from a Military Spouse :Promises aren't made to be broken - Spouse Calls - Stripes

The healthcare cost increase part of this will be a surprise to many military families who are retired but still under 65. Hopefully the portability and increased access will be better and worth the trade off for ending Tricare.

MegaJay · 02-12-2015, 05:36 PM

Here is the SASC hearing testimony by the MCRMC

http://www.armed-services.senate.gov...ion-commission

USMCRET · 02-13-2015, 10:41 AM

I was at a briefing earlier this week conducted by one of the panel members. I must admit I went in with one attitude and came out with quite another. This panel did some real yeoman's work on this report. All the bases are covered, and there was not one question from the audience that received a response of "I'll have to get back to you on that." This panel member knew the subject cold. I was extremely impressed.

I believe the recommendations of this panel has legs and we will see much of it getting enacted.

BDHunter · 05-07-2015, 09:21 PM

Agree with USMCRET - they had the right folks on this commission and came up with some reasonable proposals that make sense, especially for the 20-somethings in the ranks today. Your advocacy organizations (MOAA, Sgts Assoc, NMFA, etc, worked side by side with them. I was pleasantly surprised by the out brief I attended from 3 of the commissioners.

CWinLV · 07-11-2015, 07:25 AM

Quote:

Originally Posted by MegaJay

... if implemented could possibly improve working age retirees ability have portable access to health care. It looks like it might cost more but still be less expensive...

Commission calls for abolishing Tricare

We pay NOTHING for our health insurance (Tricare Standard) and can see any provider that accepts the insurance without a referral. How can the new plan be LESS expensive than "free" or provide more portable access?? It appears the new plan will profoundly impact our current style of living, and may affect our fulltime RV'ing and early retirement decision!

MegaJay · 07-12-2015, 05:39 AM

If your re-read my full post that was partially quoted I belive you will see I compare the new proposed plan (from 6 months ago..ndaa16 is changing some of this) to the current federal service medical plan....and said it is more than current tricare plan in place...(which is not "free"but extremely low cost) and less then currently experienced by feds. That's the whole point of the thread...it's going to cost more if adopted as recccomended.

McRod · 07-19-2015, 09:25 AM

The military will eventually do away with pension retirements - I suspected that when they introduced TSP to the military. They are learning that they are a huge expense, like corporate America did, and replace them with stock market retirement plans.

Unless things have changed, TSP didn't have any matching contributions for service members. So its really just a savings account that you could do at any investment firm. No real need for TSP.

I can see a point in the future when a retiree goes to make withdrawal on his/her account and the market has crashed and all their savings are gone.