"The retirement overhaul is one of 15 recommendations from the congressionally mandated Military Compensation and Retirement Modernization Commission.... Under the existing defined-benefit plan, most officers and enlisted personnel who serve 20 years receive annual retirement pay equal to half of their average basic pay over their last three years of service. The panel proposed cutting that figure from 50 percent to 40 percent, in part to fund a 401(k)-like defined-contribution plan for the more than eight in 10 service members who leave the military without getting any retirement benefit."