A new Military Retirement Plan is in the works. Using a computer model, the current system will offer “piles of cash” at critical career points to entice service members to stay or leave the force depending on the critical skills of the service individual. Citing cost efficiencies, the plan offers a fairly large lump sum payment of $30,000.00 cash at the 15 year mark which would cut a service member’s lifetime retirement benefit by more than $300,000.00
Tag Archive for 'money'
Military Retirement Plan to change soon (5 years)
Published by admin September 4th, 2008 in Financial and Statistic. 0 CommentsA very simple way to understand time value of money is assuming I have $100 to give to you, do you rather have it today or 6 month from now? 1 year from now?
Thus, money today is worth more than money in the future; when you have the money in your hand right NOW, you [...]