When the Defense Business Committee, or whatever it was called, drafted their proposal to shift from a defined benefit, to a defined contribution a couple of years ago, I ran some numbers. What I expected to find was that there would be some reduction in the overall retirement benefit.
What I found, was that it ended up being about a 76% reduction in the benefit between an over-20 member now, to what they were proposing. Other than the fact that some of that reduction was essentially spread across more members in the form of earlier vesting, I thought that figure was staggering, and most certainly would be a game changer in our mid grade NCOs and FGOs and their retainability.