DoD Moving to Implement New Retirement System

"...The Defense Department started to move this week into the implementation phase of the new military retirement system Congress ordered it to set up just over a year ago, including through an exhaustive education campaign designed to make sure service members understand how the new system works.

DoD has been rolling out training materials for military leaders and financial managers since last June. But on Tuesday, officials started the training process for the roughly 2 million active-duty and reservist service members who stand to be affected by the changes, which will eventually replace the military’s cliff-vested retirement pension with a combination of defined benefits and government contributions into service members’ Thrift Savings Plan accounts..."

Read more at federalnewsradio.com