Community Member
Community Member
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Legislative Branch

Revamp retirement benefits

Don't get me wrong, I love the current system but things need to change. Currently we are entitled to retirement pay after fullfilling 20 years of service. This pays us at least 50% of our base pay for the rest of our lives which can equate to 40 to 50+ years of retirement pay. Solution: Start a 1 for 1 retirement system. If you served 20 years you get 20 years retirement, 25 years served yields 25 years retirement. Here's a rough estimate: If you receive $2500 per month in retirement x 12 x 40 years = $1.2 million. In the 1 for 1 system you would save $600K per person.



Idea No. 4498