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View Poll Results: What is the maximum percent of base salary paid by your system?
100% or more 3 7.14%
Between 90.01% and 100% 1 2.38%
Between 80.01% and 90% 3 7.14%
Between 70.01% and 80% 7 16.67%
Betweeen 60.01% and 70% 5 11.90%
Between 50.01% and 60% 9 21.43%
50% or less 14 33.33%
Voters: 42. You may not vote on this poll

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Old 10-24-2010, 09:53 PM   #41
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Join Date: Dec 2002
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I think the reason for the righteous (and rightful) outrage is that the recent FASB requirement to account for the lifetime costs of public-sector pensions has only now revealed the lack of accountability, let alone the need for fiscal responsibility. We'll all be scandalized by it for another decade or two until all the various levels of govt readjust their accounting to hide take it into consideration, some will go bankrupt, everyone's taxes will go up, and then we'll get on with our lives.

While it's possible for a military veteran to earn a pension of greater than 75% of base pay, and while that scale could hypothetically exceed 100%, the reality is that only 15% of the people who join the military stay for at least 20 years. (Generally no vesting occurs before 20 years.) I'd bet that fewer than 3% stay for 30, and the only ones who can stay until 40+ are E-9s or flag officers.

If anyone can point me to a study or demographic data on the various levels of military pensions (20 years to 40 years) then I'll add it to the book. I haven't been able to find any references.

Originally Posted by Texas Proud View Post
You can blame Reagan all you want, but it would have happened no matter who was in Congress... the private sector can change the rules.. they can adjust to market forces... we get that...
I'm sure that Reagan and his administration earned more than their fair share of blame, but I can't help have a sentimental glow in my heart for a CINC who raised my pay nearly 25% in one day.

Originally Posted by Texas Proud View Post
Yep, news to me... I learned something from the posts...
AND.. learned something else... you can get a LOT of house for $2,400 per month in Houston... would this be someone who has to rent because they might have to move?
Not only would you have to move, but you might have to do it as often as 18-24 months. You'd also have to discard most of your groceries and cleaning supplies and restock at the other end. Govt insurance does not cover the cumulative wear & tear of multiple moves (it barely covers the loss or damage of one move) and veterans almost never have the opportunity (let alone the time) to search out a bargain at the new duty station.

That $2400 is also based on rank & dependents. I'd bet that junior enlisted get a lot less.
Here it is: Basic Allowance for Housing (BAH)

An E-4 would only get about $1400/month if their duty station was at Rice University. I guess you'd have to pick the ZIP code of a military base in the area for a more realistic number.

Military housing allowances have come a long way in the last 10 years, even more progress than in the 10 years before that. They used to be allocated to cover 85% of one's rent, and they didn't do a very good job of tracking individual ZIP codes or inflation. Computing power now makes it a lot cheaper to track the details more frequently, and allowances have been raised to cover not only 100% of rent but also utilities. Some very expensive areas (like Hawaii) even get an additional cost-of-living-allowance of a few hundred bucks a month.

There's a cynical aspect to this benefit. It's far cheaper for the military to raise non-taxable allowances & bonuses (and thus raise retention) than to take on the lifetime obligation of raising base pay. Allowances & bonuses end when the veteran leaves the service, but the effects of base pay raises show up in pensions that last until their survivors die...

Originally Posted by ziggy29 View Post
Spare me the sanctimonious holier-than-thou stuff.
My fault for being an idiot. So sorry, sir. I stand chagrined for being a mercenary private sector idiot in your eyes who couldn't see the obvious fact that he'd get screwed 10 years later, and that if he only chose a government job it wouldn't have happened. I'm such a pathetic failure!
Your characterization of those who did NOT choose "public service" as mercenaries unwilling to "sacrifice", somehow less noble than those who work for government, is also rather offensive and prejudicial.
Originally Posted by ziggy29 View Post
If they singled out your department for slashing the pension while you still had to pay for the pensions of others -- or increased your mandated contributions to subsidize another department's plan with no benefit to your own retirement -- how would that make you feel?
Ziggy, I hope you speak for the entire moderator team... and I wonder how much longer you're going to put up with it!


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