| Description |
1 online resource (xix, 81 pages) : illustrations |
| Contents |
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 |
| Summary |
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 |
| Notes |
"Prepared for the Office of the Secretary of Defense." |
|
"National Defense Research Institute." |
|
"MR-748-OSD." |
| Bibliography |
Includes bibliographical references (pages 79-81) |
| Notes |
Print version record |
| Subject |
Federal Employees' Retirement System (U.S.)
|
| SUBJECT |
Federal Employees' Retirement System (U.S.) fast |
| Subject |
Military pensions -- United States.
|
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Pensions -- Computer simulation
|
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BUSINESS & ECONOMICS -- Personal Finance -- Retirement Planning.
|
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Military pensions
|
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Pensions -- Computer simulation
|
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United States
|
| Form |
Electronic book
|
| Author |
Johnson, Richard (Richard W.), 1963-
|
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Warner, John T
|
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United States. Department of Defense. Office of the Secretary of Defense.
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National Defense Research Institute (U.S.)
|
| ISBN |
0585380066 |
|
9780585380063 |
|
0833024639 |
|
9780833024633 |
|
