New Generation of Military Members Provides Opportunity to Reform Military Benefits
Abstract
The military competes for the personnel needed to maintain a highly effective, professional, all-volunteer force. Though, unique leadership and occupational opportunities, and a sense of service should be the motivation for members to join and serve, military benefits have a role in competing for members. Military benefits need to be reformed due to fiscal restraints. Achieving the financial reductions that also allow the military to remain competitive requires a comprehensive approach. The generational characteristics of the Millennial generation should be considered when proposing benefit reform. The values of the Millennial generational provide an opportunity to sustain front-loaded, family focused programs in exchange for reforming the costly long-term, defined benefit retirement. A second order effect of proposals that reform the defined benefit 20-year retirement distribution immediately upon retirement may be to provide the opportunity to increase flexibility in personnel management. Current fiscal challenges and need to compete for the service of the Millennial generation creates the impetus and opportunity to reform the current 20-year defined-benefit retirement program in a comprehensive and positive way.
Document Details
- Document Type
- Technical Report
- Publication Date
- Mar 01, 2013
- Accession Number
- ADA589334
Entities
People
- Todd D. Hirneisen
Organizations
- United States Army War College