Congress should adopt recommendations of the Military Compensation and Retirement Modernization Commission dealing with enhancing the current military retirement system, AFA and four partner organizations told leaders of the House and Senate defense policy committees this week. “We urge the committee to support legislation expanding [the Thrift Savings Plan], along with financial literacy training to all military members,” states
the April 15 letter signed by AFA Board Chairman Scott Van Cleef and leadership of the Enlisted Association of the National Guard, National Guard Association, Reserve Officers Association, and VFW Washington Office. These changes form two of the 15 recommendations the congressionally chartered commission
delivered to lawmakers in January. Above all, the five organizations said they find merit in the proposal calling for establishing a matching TSP contribution for servicemembers and for allowing reservists to receive a portion of their retirement pay after 20 years of service. “We believe that the recommendation enhances the current retirement system and is a valuable recruiting tool for a new generation of warfighters,” states the missive. “Whatever Congress passes should maintain the overall value of the retirement system, should not adversely affect retention, and the TSP match should continue throughout an individual's career.”
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The Senate Armed Services Committee’s version of the National Defense Authorization Act, released by the committee late Thursday, would provide for $715.9 billion in spending, according to a summary produced by the committee.
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