"...The old, reliable military retirement system is about to be retired.
House and Senate lawmakers are moving ahead with dramatic plans to replace the current 20-year, all-or-nothing deal with a "blended" compensation system, complete with a 401(k)-style investment plan that promises all future troops will leave the service with some money for retirement.
The moves echo recommendations from the Military Compensation and Retirement Modernization Commission earlier this year, which pushed for changes to recognize the estimated 83 percent of service members who leave the military with no retirement benefits.
But some outside advocates still worry that, while well-intentioned, the change could decimate the senior noncommissioned and officer ranks, by giving them too much incentive to start a civilian career earlier and not enough incentive to stay to 20 years..."