A retired Army Sergeant first class gets $37k/yr pension for life?!

[JEDI]

http://money.cnn.com/2013/12/12/news/economy/military-pensions-budget/index.html?source=cnn_bin

The budget deal cuts pension cost of living raises by 1% for military retirees who aren't disabled and not yet 62 years old.

The average cut in pension payouts, including compounding interest, for a retiring Army Sergeant first class, would be about $3,700 each year, according to the Military Officers Association of America.


1) someone enlists at age 18. retires at 38 after putting in 20yrs. and gets $37k/yr for life + cost of live increase if Army Sergeant first class.

2) whats compound interest in terms of military retirement?

3) why is the Military Officers Association commenting on enlisted pay?

 

[rudeguy]

ok

 

[OCGuy]

Is that a lot? That is how pensions work.

You would shit your pants if you saw police/fire/corrections officer pensions.

 

[Hoober]

http://money.cnn.com/2013/12/12/news/economy/military-pensions-budget/index.html?source=cnn_bin

The budget deal cuts pension cost of living raises by 1% for military retirees who aren't disabled and not yet 62 years old.

The average cut in pension payouts, including compounding interest, for a retiring Army Sergeant first class, would be about $3,700 each year, according to the Military Officers Association of America.


1) someone enlists at age 18. retires at 38 after putting in 20yrs. and gets $37k/yr for life + cost of live increase if Army Sergeant first class.

2) whats compound interest in terms of military retirement?

3) why is the Military Officers Association commenting on enlisted pay?

A sergeant is a non-commissioned officer.

 

[GagHalfrunt]

You don't get to be a Sergeant First Class just by putting in 20 years without getting arrested. It's a very senior position and takes a hell of a lot of work, training and dedication. $37,000 as a pension is less than they deserve.

 

[Hoober]

And they should be cutting Congress's fucking pay. Not our veterans.

 

[Wreckem]

Is that a lot? That is how pensions work.

You would shit your pants if you saw police/fire/corrections officer pensions.

Yeah it is just like any other pension where COLA's are never guaranteed.

 

[BoomerD]

You don't get to be a Sergeant First Class just by putting in 20 years without getting arrested. It's a very senior position and takes a hell of a lot of work, training and dedication. $37,000 as a pension is less than they deserve.

Arrested for what? I know lots of retired senior NCO's who never were arrested for any charge.

BTW, if pensions for our military folks is OK, why not for everyone else? Police, firefighters, highway maintenance crews, store clerks, etc. After all...military pensions aren't "free money." SOMEONE has to pay that. (like all taxpayers)

 

[Markbnj]

Legionaires used to get a chunk of land and a horse.

 

[ImpulsE69]

I can't tell if he's complaining about how low it is or how high it is. It isn't enough if you ask me, considering how much they try to keep us in war these days.

 

[destrekor]

http://money.cnn.com/2013/12/12/news/economy/military-pensions-budget/index.html?source=cnn_bin

The budget deal cuts pension cost of living raises by 1% for military retirees who aren't disabled and not yet 62 years old.

The average cut in pension payouts, including compounding interest, for a retiring Army Sergeant first class, would be about $3,700 each year, according to the Military Officers Association of America.


1) someone enlists at age 18. retires at 38 after putting in 20yrs. and gets $37k/yr for life + cost of live increase if Army Sergeant first class.

2) whats compound interest in terms of military retirement?

3) why is the Military Officers Association commenting on enlisted pay?

1) k

2) math? ugh, no thanks

3) because it's not restricted to enlisted; a Sergeant First Class is a Non-Commissions Officer; and the officer association here is using a sharp sword - showing how it will hit retired NCOs, who will be hit the hardest, since there are much higher annual figures for retired officers. Cuts may be of larger numbers for officers, if percentage driven, but, they'll hit harder on the Enlisted.


This is the worst way to cut spending. They've talked about this a few times, but it's sickening it's getting this far as it is. After what we, both as a society decades ago, and just the way of war today, have put our Soldiers through, sometimes ruining their lives mentally if not physically, they deserve a respectable and healthy pension following 20 good years of service (there is a checklist, of sorts, and you have to meet all items to have a good year. essentially, doing what you signed up for, behaving, and, if in the Reserve/Guard, attending the number of drill days directed in a fiscal year (making up any missed).
They've earned it - the government and military is overspending in other areas. Military pensions have been a constant expense, and a required one. We draw down, produce fewer war machines, cut back on total strength numbers... that'll save a bunch. And let's not ignore the waste throughout the government at large.
The military is the easiest place to cut in the minds of government and civilians, because war. But it's not that simple - the military leaders don't want/can't make serious cuts now, not ones that impact the current operational ability - so they try and cut where it won't have immediate impacts. Except it hurts the financial stability of people who may have sacrificed much for the country, and could hurt recruitment or further spur the loss of talent as they would rather seek civilian employment instead of sticking around to retire with less than they originally anticipated.

And that's a particularly troubling idea, because the military has already been suffering from that "brain drain" for any number of reasons that can be argued at length by military and civilian experts.

 

[Runes911]

You don't get to be a Sergeant First Class just by putting in 20 years without getting arrested. It's a very senior position and takes a hell of a lot of work, training and dedication. $37,000 as a pension is less than they deserve.

This. 1000x this.

People really have no idea what it takes to be a supervisor in the military. We are expected to KNOW everything about out subordinates. Does your boss ask you about your family? We are expected to know when our subordinate has family problems, marital problems, financial problems, ANY problem. It is way more than a supervisor. We are expected to know our subordinates on a level that is not even thought of in the civilian world. In fact some of it would be considered an invasion of privacy in the civilian world.

 

[Wreckem]

Arrested for what? I know lots of retired senior NCO's who never were arrested for any charge.

BTW, if pensions for our military folks is OK, why not for everyone else? Police, firefighters, highway maintenance crews, store clerks, etc. After all...military pensions aren't "free money." SOMEONE has to pay that. (like all taxpayers)

Yeah what military retirees are glossing over is, the civilians in the federal work force are taking the same hit more or less. Savings from military pensions is $6billion. Cuts to federal civilian pensions is $6billion. Furthermore, many "retired" veterans of able body under retirement age are still working, many if federal jobs, for which they will get to double dip on pensions when they retire.

 

[destrekor]

BTW, if pensions for our military folks is OK, why not for everyone else? Police, firefighters, highway maintenance crews, store clerks, etc. After all...military pensions aren't "free money." SOMEONE has to pay that. (like all taxpayers)

What are you trying to say here?

That if it's okay to cut military pensions, why aren't they cutting other pensions?

Or.. if it's "okay" to have military pensions, why not other pensions? I can't see it being this line, since many of those already DO have pensions if you meet the requirements for time and performance. Maybe not highway maintenance (no idea) or store clerks, but all public service have pension options, ALL public service: fire, police, city/county (local), state, federal government employees.

 

[Wreckem]

1) k

2) math? ugh, no thanks

3) because it's not restricted to enlisted; a Sergeant First Class is a Non-Commissions Officer; and the officer association here is using a sharp sword - showing how it will hit retired NCOs, who will be hit the hardest, since there are much higher annual figures for retired officers. Cuts may be of larger numbers for officers, if percentage driven, but, they'll hit harder on the Enlisted.


This is the worst way to cut spending. They've talked about this a few times, but it's sickening it's getting this far as it is. After what we, both as a society decades ago, and just the way of war today, have put our Soldiers through, sometimes ruining their lives mentally if not physically, they deserve a respectable and healthy pension following 20 good years of service (there is a checklist, of sorts, and you have to meet all items to have a good year. essentially, doing what you signed up for, behaving, and, if in the Reserve/Guard, attending the number of drill days directed in a fiscal year (making up any missed).
They've earned it - the government and military is overspending in other areas. Military pensions have been a constant expense, and a required one. We draw down, produce fewer war machines, cut back on total strength numbers... that'll save a bunch. And let's not ignore the waste throughout the government at large.
The military is the easiest place to cut in the minds of government and civilians, because war. But it's not that simple - the military leaders don't want/can't make serious cuts now, not ones that impact the current operational ability - so they try and cut where it won't have immediate impacts. Except it hurts the financial stability of people who may have sacrificed much for the country, and could hurt recruitment or further spur the loss of talent as they would rather seek civilian employment instead of sticking around to retire with less than they originally anticipated.

And that's a particularly troubling idea, because the military has already been suffering from that "brain drain" for any number of reasons that can be argued at length by military and civilian experts.

Honestly we should be slashing the military's overlybloated budget by $50-100billion and be shifting that money over to the vastly underfunded VA. I am sure the military can carve out $6billion a year to cover this cut, oh they can't, thats just the military being the military always wanting more more more.

 

[Wreckem]

What are you trying to say here?

That if it's okay to cut military pensions, why aren't they cutting other pensions?

Or.. if it's "okay" to have military pensions, why not other pensions? I can't see it being this line, since many of those already DO have pensions if you meet the requirements for time and performance. Maybe not highway maintenance (no idea) or store clerks, but all public service have pension options, ALL public service: fire, police, city/county (local), state, federal government employees.

And they almost all require you to hit a certain age before drawing said pension(57, 60, or 62, depending on the pension). Many of the pensions for the above types of pensions have not seen COLAs in several years. The military is still getting a COLA, just a smaller one. I know of some state/local pensions that are receiving their first COLA in 8 years. And the plan does create an equal amount of savings for the federal civilian pensions. They can't do what they are doing with the civilian pensions(new employees having to contribute a higher rate) because the military pensions arent operated the same way.

And we all know before all is said and done the military COLA will be restored because the military has somehow become another third rail that cannot be touched.

 

[brianmanahan]

thats not a whole lot, if i stay at my company for 20 years ill have a pension that big too

 

[BoomerD]

What are you trying to say here?

That if it's okay to cut military pensions, why aren't they cutting other pensions?

Or.. if it's "okay" to have military pensions, why not other pensions? I can't see it being this line, since many of those already DO have pensions if you meet the requirements for time and performance. Maybe not highway maintenance (no idea) or store clerks, but all public service have pension options, ALL public service: fire, police, city/county (local), state, federal government employees.

My point was that most folks who defend military pensions are also the ones who rant about public sector pensions...and even private sector pensions, opting instead for 401K types of retirement plans.

And they almost all require you to hit a certain age before drawing said pension(57, 60, or 62, depending on the pension). Many of the above pensions have not seen COLAs in several years. The military is still getting a COLA, just a smaller one.

Agreed. MOST pension plans are age-based or a combination of age and years of service, not JUST years of service.

Should a military retiree be able to go into government service and collect a second pension? Lots of them do just that. Double dipping.

 

[RaistlinZ]

Good, I'm glad he's getting the pension he earned for serving his country in a stressful and dangerous job for 20 years.

 

[rudeguy]

Be outraged over something worthy

http://www.my9nj.com/story/24202315/ex-nj-cop-hurt-by-staple-defends-disability-pay?config=H264

 

[rcpratt]

This. 1000x this.

People really have no idea what it takes to be a supervisor in the military. We are expected to KNOW everything about out subordinates. Does your boss ask you about your family? We are expected to know when our subordinate has family problems, marital problems, financial problems, ANY problem. It is way more than a supervisor. We are expected to know our subordinates on a level that is not even thought of in the civilian world. In fact some of it would be considered an invasion of privacy in the civilian world.

That's neat. I'm pretty confident that there are nuances to management in the private sector that military folk don't have to do with. Coming in and declaring that your job is harder than everyone else's probably isn't the best way to get the response you're looking for.

Back to the OP, I also have no idea whether we're talking about that pension being too low or too high. My first feeling was that it's too low, but who knows. If you're going to start a thread and give your opinion, though, you might as well try to actually say what it is.

 

[xanis]

Is that a lot? That is how pensions work.

You would shit your pants if you saw police/fire/corrections officer pensions.

For reference: My mother is a public school teacher (Special Ed.). Pension is 80% of her ending contract salary, which is quite a lot (just about six figures).

 

[cheezy321]

Soon enough pensions will only be available thru government jobs. Soon government jobs will be higher paid (if they aren't already) than private positions.

 

[thegimp03]

Be outraged over something worthy

http://www.my9nj.com/story/24202315/ex-nj-cop-hurt-by-staple-defends-disability-pay?config=H264

Oh my...a staple?

 

[Printer Bandit]

not bad for glorified janitors that can shoot guns.