TY  - BOOK
AU  - Asch,Beth J.
AU  - Johnson,Richard
AU  - Warner,John T.
ED  - United States.
ED  - National Defense Research Institute (U.S.)
TI  - Reforming the military retirement system
SN  - 0585380066
AV  - UB373 .A8623 1998eb
U1  - 331.25/291/355 21
PY  - 1998///
CY  - Santa Monica, CA
PB  - Rand
KW  - Federal Employees' Retirement System (U.S.)
KW  - fast
KW  - Military pensions
KW  - United States
KW  - Pensions
KW  - Computer simulation
KW  - Simulation par ordinateur
KW  - BUSINESS & ECONOMICS
KW  - Personal Finance
KW  - Retirement Planning
KW  - bisacsh
KW  - Electronic books
N1  - "Prepared for the Office of the Secretary of Defense."; "National Defense Research Institute."; "MR-748-OSD."; Includes bibliographical references (pages 79-81); Introduction -- Overview of MFERS -- Overview of the Theoretical and Empirical Models -- Steady-State Results -- Results for the Transition to the Steady State -- Other Considerations -- Conclusions and Policy Options -- References; Open access
N2  - 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
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ER  -