Compass
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Loan & Distribution Specialist AimPoint Pension
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Bates & Company, Inc.
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AimPoint Pension
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Regional Vice President of Sales The Retirement Plan Company
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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CRS Insight: A Comparison of House and Senate Provisions for Military Retirement Reform (PDF)
Congressional Research Service [CRS] June 9, 2015
3 pages. "The House and Senate committee versions would change the existing system from a defined-benefit system that is vested at 20 years of qualifying service (YOS) to a blended system that authorizes government-matching contributions of up to 5% of basic pay to individual Thrift Savings Plan (TSP) accounts.... Currently, most non-disability retirees are eligible to receive a retired annuity equal to 50% of pay base after 20 years of service, based on a multiplier of 2.5% times the number of qualified years of service (with the exception of servicemembers in the Redux system, where it is calculated differently). Both versions of the FY2016 NDAA would reduce the multiplier for the defined benefit from 2.5% to 2.0% (a retirement annuity equal to 40% of pay base at 20 YOS)." [CRS Insight IN10286, Jun. 4, 2015]
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