News from the web:
Servicemembers who accept a 15-year retirement incentive approved by Congress this month stand to lose hundreds of thousands of dollars over the lifetime of their retirement payments, according to early estimates.
This realization, combined with poor national economic factors that are expected to compel many servicemembers to stay in uniform, could make it even tougher for service officials to entice troops to leave on their own to meet the services’ goals of reduced end strength.
Earlier this month, the chiefs of the military services received approval to reinstitute Temporary Early Retirement Authority — better known as “15-year retirement” — that allows officers and NCOs to retire up to five years before the traditional 20-year service mark at a reduced pay rate.
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