Last year, Congress enacted a major overhaul of the military’s retirement system. The new approach moves away from the 20-year, all-or-nothing pension arrangement that has characterized military retirement. In its place comes a more balanced approach in which new service members begin saving for their own retirement in the Thrift Savings Plan -- and receive matching contributions -- upon entering the military.
Now the process of implementing the new system and educating service members about it is under way. Read all about it in our downloadable special report: Military Retirement Update.