It is the end of March. The end of that oh so wonderful time of the year known as women’s history month. Long time readers know that I don’t like Women’s History month although I do like women a lot. There are a lot of past posts that you can read here. I like them-some other readers did not.
There is a lot to talk about this year. We could talk to this. Or this.
But instead I want to just quickly talk about the law of unintended consequences.
As you may be aware, the military changed its retirement scheme this year affecting folks entering the military in 2018.
In contrast to the longstanding current system that reserves pension payouts for troops who serve at least 20 years in uniform, the new, “blended” plan would give troops who serve as little as two years some retirement benefits through vested 401(k)-style investments in their Thrift Savings Plan accounts.
Today, only about one in five service members sees any retirement pay. Under the new plan, officials estimate, about four in five will leave the military with some level of retirement savings.
The plan follows a recommendation from the Military Compensation and Retirement Modernization Commission in February, which found most younger Americans “change jobs frequently and tend to favor flexible retirement options.”
The concept has been discussed among military advocates for years. Commissioner Steve Buyer, who served as a Republican representative from Indiana for 18 years, said lawmakers envisioned the shift from military pensions to investment accounts when they first approved the Thrift Savings Plan in 1999.
Not everyone will shift to the new model; it will cover all troops who enter service after Jan. 1, 2018, but anyone already in the ranks or who signs up in the next 24 months will be grandfathered into the traditional, 20-year retirement system
However guess what the Congress forgot to address in this rather stupid poorly thought out change.( Lets be clear. I do not support this change to the retirement program and I think it incentivizes people to leave the service at mid career if not before. The retirement system was not what needed to be changed. DOPMA did) The Congress did nothing to change that incredibly horrid piece of legislation, the abomination known as the Uniformed Services Former Spouses Protection Act. You can read more about it here.
Fast forward to 2038. A Commander, who got divorced at the 10 year point is now opening his mail, 30 days before his retirement, to find that his worthless shrew of an ex wife is suing him for 35% of his now diminished retirement pay. That, by the way on top of the 50% of his 10 years of TSP savings at the time of the divorce. So now, thanks to Congress’ lack of due diligence and concern, our new job seeker gets screwed at the drive through not just once, but twice. And you are kidding yourself if you don’t think some sleazy lawyer won’t try it.
“But he could have stopped that when he got divorced by having it written into the decree”.
Perhaps, but it could be just as likely, if not moreso that the fucking bitch, pushed to get both travesties in the divorce decree. That happens.
And not one Congressman is having the courage to take up this part of the law or better yet advocate for its repeal entirely.
And that dear friends, is a bit of feminist future history, brought to you here in 2016. Because remember:
