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Military retirement system broken, board says

from Stars & Stripes

The Defense Business Board, tasked by Defense Secretary Robert Gates to find ways to reduce the DOD budget, says annual Treasury Department payments into the system will balloon from $47.7 billion this year to $59.3 billion by 2020. The 25-member group of civilian business leaders suggests that the Department of Defense (DoD) look at changing the current system, even hinting at raising the number of years troops must serve before being eligible for retirement pay. Making troops serve longer before receiving pay is not popular with some Servicemembers. more


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