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Defense Department Urged to Shift from Traditional DB Plan to Hybrid Plan Design
Pensions & Investments Link to more items from this source
Nov. 16, 2014
"As part of an ongoing DOD review of military compensation and retention issues, Rand researchers found that because of a 20-year vesting requirement, only 34% of officers and 14% of the enlisted personnel serve long enough to benefit from the current defined benefit system, which has been in place for 70 years. Switching to a hybrid plan that has a defined contribution plan and a reduced defined benefit component could save between $1.8 billion and $4.4 billion each year and improve retention by covering more people."

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