Military pension board latest news

Here are some of the latest news and updates related to the Military Pension Board:

Recent Developments:

  1. Pension Reform: The Military Pension Board has been working on pension reform efforts to ensure the long-term sustainability of the military pension system. In 2020, the board proposed changes to the pension system, including increasing the retirement age and reducing cost-of-living adjustments (COLAs).
  2. Budget Cuts: The Military Pension Board has been impacted by budget cuts, which have resulted in reduced funding for pension benefits and administrative costs. In 2020, the board announced plans to reduce pension benefits by 1.5% to help offset the budget cuts.
  3. New Pension System: The Military Pension Board has been working on implementing a new pension system, known as the "Blended Retirement System" (BRS), which was introduced in 2018. The BRS combines a defined benefit pension with a defined contribution plan, allowing service members to choose between the two options.
  4. Pension COLAs: The Military Pension Board has been reviewing the cost-of-living adjustments (COLAs) for military retirees, with some advocating for increased COLAs to keep pace with inflation.

Recent News Articles:

  1. Military Times: "Pension reform efforts stall in Congress, leaving military retirees in limbo" (February 2023)
  2. Stars and Stripes: "Military pension board proposes changes to reduce costs, improve sustainability" (January 2023)
  3. Defense News: "Pentagon proposes 1.5% cut to military pensions to offset budget shortfalls" (December 2022)
  4. The Hill: "Military pension reform bill stalls in Senate" (November 2022)

Upcoming Events:

  1. Military Pension Board Meeting: The Military Pension Board is scheduled to meet on March 15, 2023, to discuss ongoing pension reform efforts and other related topics.
  2. Pension Reform Hearing: The House Armed Services Committee is scheduled to hold a hearing on pension reform on March 22, 2023, to discuss the impact of pension reform on military retirees.

Resources:

  1. Military Pension Board Website: The official website of the Military Pension Board provides information on pension benefits, reform efforts, and other related topics.
  2. Defense.gov: The official website of the Department of Defense provides information on military pension benefits, reform efforts, and other related topics.
  3. Military Times: The Military Times website provides news and information on military pension benefits, reform efforts, and other related topics.

Please note that the information provided is subject to change and may not be up-to-date. It is recommended to check the official websites and news sources for the most current information.