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Author Asch, Beth J.
Title Reforming the military retirement system / Beth J. Asch, Richard Johnson, John T. Warner.
Imprint Santa Monica, CA : Rand, 1998.

Subject Federal Employees' Retirement System (U.S.)
Military pensions -- United States.
Pensions -- Computer simulation.
Alt Name Johnson, Richard (Richard W.), 1963-
Warner, John T.
United States. Department of Defense. Office of the Secretary of Defense.
National Defense Research Institute (U.S.)
Description 1 online resource (xix, 81 pages) : illustrations
Note "Prepared for the Office of the Secretary of Defense."
"National Defense Research Institute."
Bibliography Note Includes bibliographical references (pages 79-81).
Contents Introduction -- Overview of MFERS -- Overview of the Theoretical and Empirical Models -- Steady-State Results -- Results for the Transition to the Steady State -- Other Considerations -- Conclusions and Policy Options -- References.
Summary The authors summarize the principal features of a model of military compensation developed by the authors earlier and use it to analyze the effects of converting the current military retirement system to an alternative system patterned after the Federal Employees Retirement System. The three parts of the alternative system are a retirement plan similar to that for civil service employees, a 7 percent across-the-board pay increase to counteract mandatory contributions under the new plan, and a set of retention bonuses targeted to address any retention problems. Because the alternative system may not create the services' desired seniority profiles, a larger set of pay raises, retention bonuses, and/or separation payments would be added. In addition, the authors recommend that pay raises be skewed--be higher in the higher ranks. The authors consider the implications of this proposal in terms of the effects on cost, force size and structure, productivity, and force management flexibility.
Note Print version record.
ISBN 0585380066 (electronic bk.)
9780585380063 (electronic bk.)
OCLC # 48139280
Additional Format Print version: Asch, Beth J. Reforming the military retirement system. Santa Monica, CA : Rand, 1998 0833024639 (DLC) 96037426 (OCoLC)35961331