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life expectancy will further increase retirement pay for the military. the board is concerned these rising costs could undermine the military s war fighting capabilities in the future, bill. bill: what is the defense board proposing, kelly? the board is proposing some dramatic modifications to the existing system to reduce cost, which is why we re talking today. the implementation would be phased in to ensure current military personnel are treated fairly, although it would pay attention to the cost. it would be very similar to a 401(k)-style plan with government contributions but unlike the current plan which provides retirement pay immediately after one retires having served 20 years. this plan requires a service member to reachie tiermt retirement age first and then pay them. it would save $250 billion over 20 years, according to this report. as you can imagine, some active duty service members out there are very concerned in fact, i ve received one e-mail from a military member

Lets hopeRetirement payWar fighting capabilities in the futureLife expectancySkelly wrightDefense board proposingMilitary personnelThrift savings planService memberReachie tiermtE mailMilitary member250 billion50 billion