The Few, The Proud, The Potential Millionaires

Abstract

In this Contemporary Issues Paper, the author proposes that Marines should be automatically enrolled into the Life Cycle ("L") fund of the Thrift Savings Plan (TSP) upon arrival to The Basic School (TBS) or recruit training to promote retirement savings at a young age, have "inertia" work for them, and establish effective budgeting from the start. Automatically enrolled Marines would have 3% of their basic pay automatically contributed as soon as they began service, and would have 90 days to stop the contributions and get a penalty-free refund if they did not want to continue participating. An additional 1% of their basic pay would be automatically contributed each year, to a maximum of 6%. Increases beyond 6% would need to be made by the Marine personally.

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Document Details

Document Type
Technical Report
Publication Date
Feb 19, 2008
Accession Number
ADA508055

Entities

People

  • J. C. Schrantz

Organizations

  • Marine Corps University

Tags

Communities of Interest

  • Human Systems
  • Materials and Manufacturing Processes

DTIC Thesaurus Topics

  • Abstracts
  • Automatic
  • Congress
  • Employment
  • Executives
  • Governments
  • Information Operations
  • Instructors
  • Investments
  • Law
  • Life Cycles
  • Marine Corps
  • Money
  • Schools
  • Security
  • Training
  • United States

Readers

  • Government and Public Administration Law.
  • Military History of the United States in the 20th Century.
  • Military Mobilization and Reserve Forces Studies.