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For most federal jobs working for 20 years gets one a pension. For some (elected office, presidential appointments), one day is all it takes.
If you have held more than one federal job you can collect multiple pensions (GHWb is getting one for his time as VP, one for his time as Pres. McCain gets one for his time in the House, and his time in the Senate, Hilary Clinton will get one for the Senate, and one for Secratary of State).
There is an exception. Anyone who has a military pension is denied, "concurrent receipt". Soldiers/Seamen/Airmen/Marines who earn a pension are not allowed to collect it, if they are collecting any other federal benefit. If I were to get elected to Congress, and appointed Secretary of State I would, in effect lose my pension. Every Dollar I'd be entitled to as a vet would be deducted from my pension as SecState (it's a little more complicated, because I have "compensation", which is non-taxable, so I'd see some advantage, but the average retired servicemember isn't in that boat).
Now they are looking to make that even less fair.
The plan is to make it so that veterans 1: have a 401K,and 2: can't collect until they hit, "traditional retirement age"
I see a lot of people complaining about the fact of military pensions kicking in at retirement... as early as 38. It looks like a really generous package. Lets say an E6 retires tomorrow. That's about 24,000 a year, plus medical (though it isn't automatically free, it's be means tested).
Odds are that person has less than well respected job skills, and isn't seen as being up to date in the field, even if it something which translates to the civilian side of the house (there isn't, for example, a huge applicabilty to interrogation in most companies). The management skills that being an E6 requires... might as well be time in the Chess Club in High School for all any employer I've interviewed with see it.
It's a bit easier for an officer; they are seen as being a cut above the common herd (which is not something proven by experience, but there are some very obvious holdovers from older ideas of class). They also have much higher pensions.
So someone who has, because they chose to serve a full career, somewhat less, apparent, utility, and a harder time getting employment, is going to face the added indignity of not getting the same sort of pension most other federal employees gets. Never mind the hardships they are underpaid for while they are in. Never mind the difficulties of being on active duty. Never mind that.
Nope, balancing the budget on their backs, while making it easier for Merrill Lynch to make a buck is the way to go.
Petition to Pannetta against the idea of making veterans' pensions a 401K
If you have held more than one federal job you can collect multiple pensions (GHWb is getting one for his time as VP, one for his time as Pres. McCain gets one for his time in the House, and his time in the Senate, Hilary Clinton will get one for the Senate, and one for Secratary of State).
There is an exception. Anyone who has a military pension is denied, "concurrent receipt". Soldiers/Seamen/Airmen/Marines who earn a pension are not allowed to collect it, if they are collecting any other federal benefit. If I were to get elected to Congress, and appointed Secretary of State I would, in effect lose my pension. Every Dollar I'd be entitled to as a vet would be deducted from my pension as SecState (it's a little more complicated, because I have "compensation", which is non-taxable, so I'd see some advantage, but the average retired servicemember isn't in that boat).
Now they are looking to make that even less fair.
The plan is to make it so that veterans 1: have a 401K,and 2: can't collect until they hit, "traditional retirement age"
I see a lot of people complaining about the fact of military pensions kicking in at retirement... as early as 38. It looks like a really generous package. Lets say an E6 retires tomorrow. That's about 24,000 a year, plus medical (though it isn't automatically free, it's be means tested).
Odds are that person has less than well respected job skills, and isn't seen as being up to date in the field, even if it something which translates to the civilian side of the house (there isn't, for example, a huge applicabilty to interrogation in most companies). The management skills that being an E6 requires... might as well be time in the Chess Club in High School for all any employer I've interviewed with see it.
It's a bit easier for an officer; they are seen as being a cut above the common herd (which is not something proven by experience, but there are some very obvious holdovers from older ideas of class). They also have much higher pensions.
So someone who has, because they chose to serve a full career, somewhat less, apparent, utility, and a harder time getting employment, is going to face the added indignity of not getting the same sort of pension most other federal employees gets. Never mind the hardships they are underpaid for while they are in. Never mind the difficulties of being on active duty. Never mind that.
Nope, balancing the budget on their backs, while making it easier for Merrill Lynch to make a buck is the way to go.
Petition to Pannetta against the idea of making veterans' pensions a 401K
