401k's for Military Retirees?

I think that is awful that they are doing this to the Vets. you are one my son one and several others I know and all are being hurt by this. I think your right you need your benifits!!!!!!! THe ones on the hill dont need a raise they could do with a cut!

First off I would say that the military retirees do not get enough in my opinion. They risked their lives fight ing for this dump we call america. Second, if they want to cut spending, remove the troops that we have in countries like Germany and Korea, where we have nothing going on. Now, if they did make the pensions private, the only problem I see with that is just like other private businesses, they can go out of business, then everyone would be screwed. I think it should remain as a government pension for them. I think that GW should not have given the first bail out to the banks at all. Why should they get money for nothing? Then they used it for themselves. It did not help a thing. Then, when Obama became president, they extended the bush bail outs with giving even more money to the banks and the auto companies. I would have never done any of that. This country is tethering on a cliff like a vehicle would hanging half on land and half on nothing.

I will be spitting right along with you Ted. My husband is an Air Force retiree, and disabled as a result of protecting our country. Protecting those lunatics voting to take away the money he earned while doing so. I am OUTRAGED by this! I was sick the moment I heard this on the local news! As if we don't have enough horrible statistics as far as vets go. As if we don't have enough homeless vets as it is. Veterans sleeping in the parks, on benches, under benches, in alleys, behind dumpsters. THIS IS AN OUTRAGE!!! These people protected us, fought for OUR country, and we allow them to exist like this! And its only getting WORSE. Sad.

"Share in the sacrifice?" Our military men and women and their families have sacrificed more than anyone else in the country! I'm sick of all of this pretend/run-around solutions they are coming up with! I hope everyone remembers all of this stuff until the next election! You know how fickle the voters are! If the economy miraculously improved the day before the 2012 elections, nothing would change.

If we're going to cut military funding the first way should be pulling our troops out of countries they have no reason being in. We are spending way too much keeping troops in Japan, Iceland, Germany, etc. I don't see what anyone thinks they'll gain by screwing over the men and women who are risking life and limb to protect us.

So you love the country so much that you want others to sacrifice so you don't have to? You don't care if the country crashes as long as you keep getting yours?

Those working for business know full well the price that has been paid when pensions were replaced with 401k accounts. It may have seemed like a good idea. Before we had pensions, which were consistent and dependable as long as the company was doing well. And on top of that, there was supposedly some legal protection of those pension funds. Even when pensions were influenced by the stock market, there were professionals minimizing the damage during bad times and boosting the profits during the good times. Now we have 401k accounts. They gain and lose as they please. Most people don't have the knowledge to manage the accounts and when the economy is bad, retirement funds get chopped. I'm not familiar what they are proposing for military pensions, but I hope they make things better, not worse.

From what I have read and heard I like the concept that allows a soldier who serves for 10 years now get nothing for retirement but under this plan they would have something. I had a friend who was cut under President Clinton's budget savings with 18 years in the military. He got a one time payment of a few thousand dollars. I could see a 401K that would allow the service person to also contribute to increase their benefit. If a soldier is serving in a combat zone the government contribution should be greatly increased and when a soldier is deployed in a foreign country the governments contribution should also be increased. Another thing to consider is to pay a reenlistment bonus to the soldier and to their 401K. This would encourage re enlistments and make the system pay closer to what they would be getting now. If you figure a government contribution of 6%, based on a sergeants pay (E6) with a 1.6% increase in salary for 20 years the person would receive a salary of $400 less than the present system (based on a 3% return and collecting interest payments only not touching the principal). This does not include and contribution by the soldier or any bonus contributions I mentioned above. The whole federal retirement needs to be looked at and reformed so that people are not collecting double and triple pensions from the government.

Ok I'm trying to get an understanding of these cuts and how they affect the people who have served our country. From what I'm reading, it is hurting more than helping them. They risked their lives to serve our country and I feel that of all people they should be set for life. They sacrificed enough. If I'm understanding this correctly then I disagree. Any cuts should not cause them any more sacrifice than they have had to make.

I'm not surprised. Those selfish people are more than willing to send our men and women to war to be killed, maimed and forever tormented by gruesome memories in order to protect their sorry hides. They don't want to compensate them for the horrors they are exposed to, don't care if they are able to retire with enough money to be comfortable. Our wonderful military, even those with desk jobs, protect this country and more than they receive even now. I hope that every single voter in this nation will make sure these slimy politicians are unemployed in the next election. Like another said, bring them all home--those countries don't want them where they are and we could really use them here, especially when the people get sick of being screwed and the real civil unrest starts in earnest.

REFORM is needed and if they would listen to the Tea Party and most of the Republicans we'd get Reform. But we all know this 'super committee' will be a bust and cuts will be made that should NOT be made. 2012 cannot come fast enough. IF we make it to the elections, hopefully there will be some sensible men and women elected. THIS election will make or break America.

You are 100% right Para. Consider the source: In the past two years of an illegal, unconstitutional "administration" Social Security benefits and C-O-L increases have been denied and threatened, our country has been denigrated worldwide, our economy all but destroyed, businesses and banks taken over, our Constitution spat and s--t upon, our military DELIBERATELY weakened, and, now this repugnancy from the "unbenevolent traitor-dictator-in-chief" and his criminal minions and thugs in "high places". Yes, "pathetic weasels" is almost a euphemism for these scummy slugs. Most notably weasel Barney Frank, engineer of the Fannie/Freddie debacle, and Nazi ("pass the bill, then read it")Pelosi, engineer of the DNC fraudulent "certification" of an ineligible "candidate" for president, should stand at the head of the line to "Go directly to jail; do not collect $200". Every one of the corrupt criminals in Congress, Courts, etc. should turn over their lofty pensions and paychecks to the military and the rest of the constituents they continue to mercilessly rob blind by their greed and power-mongering. We must hold them accountable for their crimes.

For me yes it is good for them so that after having a hard work they gain enough money for them to live life until they live.