Loss of retirement Pay

I'll fess up, I'm guilty!
Take all my BB benefits away.

My response reflected the idea that you have to go with the rules that are in place.
If the rules for the military are "loose all retirement income", then don't complain if you are caught doing something bad and loose it.

Different rules may apply in civilian govt. service but they were present when the individul was hired so they apply.

I have never worked at a place where retirement was provided in any real measure. I am disturbed by the number of government and educational people that retire at 50 and spend the next 30 years collecting retirement benefits from those of us that will never have the benefit of retirement.

Rob

 

A member of the military is charged, tried, and sentenced by a Court Martial who gets its authority under the Uniform Code of Military Justice (UCMJ), not the US Criminal Code. While the UMCJ does address criminal activity it also address the conduct of members of our Military similar to a company policy on how an employee is to act.

In business you can lose your retirement pay if you are fired for violating a company policy. Therefore it is certianly withing the military's rights to do the same.

Bill

 

As a matter of fact, since retired military people are technically on reserve duty at a lower pay (I think until they are 60), a military man such as myself, retired since 1992, could be deprived of retirement pay for a felony conviction, even if I did the crime now.

 

I'm curious. Do military personnel pay into social security?

 

Obviously, then, we're not talking about the issuance of social security, or of any funds put into an IRA. I assume we're talking about a benefit paid out by the military, not a 401k-type fund. Forgive me for asking what to others may be remedial questions.

 

Active duty military people in the US can retire at 20 years of service with a nice annuity, the percentage of which varies according to a rather complex formula which depends on when (what year) you enlisted. If they stay until 30 years of service, the annuity is increased to 75% of base pay, not including allowances for housing and food, which are received only by active duty personnel and are not part of base pay. They and their dependents also receive medical benefits until 65, at which time they qualify for Tricare for Life and Medicare.

Military people are given this deal because the military in the active force, needs a high percentage of younger people and a much smaller percentage of high ranking elders. To be fair to the troops, they can begin to retire and seek a second career when they have completed 20 or more years.

Military people also pay into Social Security, although when they begin to receive benefits from SS, there is a reduction in retired pay, thought not 1 for 1, so there are increased benefits past 62 or 66, depending on when one retires.

For military people who qualify for any third retirement (for instance, my teacher's retirement fund, into which I pay 10% of my income), they can only collect a small percentage of their Social Security, though this varies according to what state they live in. yet?

For military people, there is also the issue of state taxation of military retirement. I live in KY, which does not tax military retirement. Some states do. In fact, money-hungry California charges "source" taxes on the retirement incomes of military people who retire in California and live one day as a civilian there. They apply this tax even if the person in question leaves CA.

A recent decision of SCOTUS told states, however, that they cannot tax the retirements of Federal employees (military or otherwise) and NOT tax those of state workers as well.

yet?

The theory behind military retirement is that military people are paid relatively low pay for their time and skill while on active duty, and then are compensated in retirement.

Of course, most police, state police, and fire departments have the same kind or similar deal, because, after all, military, police, and fire departments are largely a young person's game.

The percentages and retirement benefits of military people have been waning for years, and people enlisting now still get a relatively good deal, but not what I got. And, I did not get what was promised (free medical for life), because I do have to pay a premium and a co-pay at the doctor's office.

 

First of all great explanition of Military Retirement, Major B. And yes I am confused.

The portion I quoted above can and does apply to alot of carreers. I believe the UAW offers retirement after 20 years. Working the line building cars is strenous and a young mans game. Similar to the military they need fewer people in their supervisory ranks. Most jobs need fewer people the higher you get in an orginizaion, however most jobs can be performed by people of any age.

Bill

 

I marked "other" for one reason -- every circumstance differs. Generally, I think civilian government workers convicted of a crime WHILE EMPLOYED BY GOVERNMENT should lose their retirement. Other crimes? It's up to the court.


BTW, I have noticed many government employees speeding while on duty. That, too, is technically a crime!


Bill