Amid discussions of cutting Pentagon spending there have been talks about changes to retirement pay, and the results of a recent survey suggest troops may be okay with it – under one condition. Around 80 percent of troops said they'd be okay with not receiving retirement payouts until they're 50 as long as they get a 1 percent pay raise now, Military Times reports.
The report comes from independent think tank the Center for Strategic and Budgetary Assessments and suggests there might be a mutually beneficial plan for both the Pentagon and active duty soldiers. Study author Todd Harrison says it would save the Pentagon considerable money while also showing greater support for serving troops.
The plan is not without its flaws, however. According to Military Times, a soldier who retired today at age 47 would be missing out on almost $200,000 in retirement pay over the course of three years and would not reap the benefits of the basic pay raise.
Any proposed compromises may become a moot point if Congress does not act to slash costs by the end of the year. According to The Wall Street Journal, Congress and the White House have to reach an agreement on a budget to avoid enacting an across-the-board $50 billion cut.