Changes to the military's retirement system delayed
Washington, D.C. (KTSM) — Plans to overhaul the military's retirement system are being delayed.
According to the Army Times, Defense Secretary Chuck Hagel wants to wait until next year to make any significant changes, so that proposals released yesterday by the Department of Defense can be fully vetted.
The proposals being studied would preserve the current system's 20 year fixed income pension, but would ultimately provide smaller monthly checks.
Retirement reform is being looked at as a cost cutting measure in the military.