Via Stars and StripesThe Military Compensation and Retirement Modernization Commission will release its long-awaited report Thursday, which will propose fundamental changes to military benefits including ending the 20-year retirement, according to the Military Times, citing sources familiar with the report.The plan calls for Congress to create a hybrid system of smaller defined-benefit pension along with more cash-based benefits and lump-sum payments. A significant portion of retirement benefits would come in the form of government contributions to 401(k)-style investment accounts, those familiar with the report told Military Times.In addition to the 401(k) for troops serving less than 20 years, the commission will suggest promising a pension to troops who serve a long-term career, but one that would be more modest than what military retirees receive today, a defense official briefed on the plan told the Times.[…]According to the Times, the commission will also propose:a change in health care benefits for current military families and retirees — Tricare customers could move into the health care coverage provided to federal employees;a new health care allowance for troops designed to cover some expenses, such as doctor-visit co-pays and eyeglasses.a new four-star medical command to oversee military health care, a significant break from the tradition of each service operating its own health care system.keeping current commissary benefits, to include continuing to sell products at cost plus 5 percent surcharge. A separate DOD budget proposal is expected to call for increasing prices to operating costs.consolidating the commissary and exchange systems. Initially, they would keep their separate branding — Navy Exchange, Defense Commissary Agency, etc.
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