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3329
I was quite surprised by the figure of $500,000 as the value of the "average" pension for an enlisted reservist. I am an E8 over 26 years of service. I had over 11 years of active duty service prior to joining the reserve component. If I serve another 5 years until my sixtieth birthday, and receive an average 3% annual pay raise and am not called to active duty, my retirement pension will be about $25,000 annually. I will need to collect 20 years to reach Secretary Chu's figure. The "average" reserve or guard retiree has served less than 6 years of active duty and retires as an E6 with 20-22 years. The pension would be between 10,000 and 15,000, meaning those soldiers would have to collect pensions for 33 to 50 years to reach the half million mark. Difficult when one starts collecting at 60! Additionally, the younger servicemembers will have pensions based on high 3 average salary, further reducing the numbers. I consider my pension a very valuable part of my retirement planning, but believe Secretary Chu's number to be grossly overstated. Please ask him to check his math or fire the folks who put together his talking paper. There is no way the numbers add up.
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3160
Unwilling to change could be the death knell for the civil service? Yeah right, just climb into the ovens and there won't be any trouble..... I would advise any young person that they should by no means EVER become a civil servant!
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