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9780833024633

Reforming the Military Retirement System

by ; ;
  • ISBN13:

    9780833024633

  • ISBN10:

    0833024639

  • Format: Paperback
  • Copyright: 1998-04-21
  • Publisher: RAND Corporation
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Summary

The current military retirement system dates back to 1947, when Congress implemented a common system for the military services and for officers and enlisted personnel alike.

Table of Contents

Prefacep. iii
Figuresp. vii
Tablesp. ix
Summaryp. xi
Acknowledgmentsp. xix
Introductionp. 1
Overview of MFERSp. 7
Basic Benefit Planp. 7
Thrift Savings Planp. 9
Social Security Benefitsp. 10
Coupling MFERS with a Pay Raisep. 10
Differences Between MFERS and FERSp. 10
Transitioning to MFERSp. 11
Overview of the Theoretical and Empirical Modelsp. 13
Theoretical Modelp. 13
Organizational Objectivesp. 13
Individual Productivityp. 14
Individual Decisionmakingp. 15
Organizational Policiesp. 20
Empirical Model Overviewp. 25
Retention and Force Structurep. 26
Computing Ability and Effort Supplyp. 31
Cost Analysisp. 34
Estimating the MFERS Retirement Annuityp. 35
Modeling the Transition to MFERSp. 36
Steady-State Resultsp. 39
The Current Military Retirement System: REDUXp. 39
MFERS without a Pay Raisep. 41
MFERS with an Across-the-Board Pay Raisep. 43
MFERS with a Skewed Pay Raisep. 45
Results for the Transition to the Steady Statep. 51
Theoretical Effectsp. 51
Grandfatheringp. 51
Converting Membersp. 52
Resultsp. 54
Other Considerationsp. 61
Force Management Flexibilityp. 61
Involuntary Separationp. 66
Portabilityp. 68
Force Stabilityp. 69
Conclusions and Policy Optionsp. 71
MFERS with Retention Bonusesp. 73
Policy Optionsp. 74
Referencesp. 79
Table of Contents provided by Syndetics. All Rights Reserved.

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