Sequestration Concerns

The changing terrain: NDAA 2017

| December 2, 2016

The House is expected to vote on the 2017 National Defense Authorization Act today, with the Senate expected to vote next week. Highlights include:

  • 2.1 percent pay raise for military.
  • Army end strength would be set at 476,000, Marine Corps at 185,000 troops, Air Force at 321,000 airmen and Navy would remain at 324,000 sailors.
  • Control of most military medical facilities would be transferred to the Defense Health Agency and new fees for enrollment in Tricare for new enlistees would be put in place.
  • General officer ranks would be cut by about 12 percent.

 

Source: militarytimes.com



Sequestration Concerns

The changing terrain: Blended retirement system

| November 18, 2016

The Federal Retirement Thrift Investment Board (FRTIB) Minutes of the Meeting of the Board Members for the month of September was released on Monday. A portion of the meeting focused on the new military blended retirement system (BRS).

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Sequestration Concerns

The changing terrain: Sequestration and shutdown

| November 10, 2016

Exactly three-quarters of military families surveyed in the latest First Command Financial Behaviors Index® are anxious about cuts to defense spending. A slightly smaller amount (72 percent) anticipate being financially affected by cuts.

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thanksgiving

Eight ways to save on Thanksgiving spending

| November 8, 2016

With the holiday season upon us, if you haven’t already, now is a good time to make a plan for budgeting your seasonal spending. Creating a workable budget—and sticking to it—is the best way to ensure that you avoid an unwelcome surprise when you open your bank or credit card statement in January.

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Sequestration Concerns

The changing terrain: Blended Retirement

| November 4, 2016

Early this week the Department of Defense released the Personal Financial Counselor-Educator Course, the second part of a four-part educational program on the new military Blended Retirement System (BRS).

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Military Familiy is Happy They Have Permenent Life Insurance

Military families show strong preference for permanent life insurance

| November 1, 2016

Demand for permanent life insurance continues to grow in America’s career military, where 2/3 of families now report owning this type of coverage and many others say they are likely to join them, according to the latest findings of the First Command Financial Behaviors Index®.

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Fears of defense cuts affect holiday spending

| October 28, 2016

Halloween frugality in military families comes at a time of continuing fears over how defense spending cuts will impact their household finances. First Command’s annual Halloween spending survey reveals that three-quarters of middle-class military families (commissioned officers and senior NCOs in pay grades E-5 and above with household incomes of at least $50,000) who plan to celebrate Halloween will spend the same as or less than last year.

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Sequestration Concerns

The changing terrain: The New Military Retirement

| October 24, 2016

Support for the military’s current retirement system is strengthening among America’s career service members, with four out of five families expressing a desire to stick with the traditional pension rather than opt in to the new blended retirement plan that goes into effect in 2018.

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Sequestration Concerns

The changing terrain: The presidential election

| October 14, 2016

Defense spending, sequestration and government retirement benefits are key pay and benefit issues that may significantly influence the votes of America’s career military in the upcoming presidential election.

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Sequestration Concerns

The changing terrain: Benefits

| October 7, 2016

This week the Army announced plans to halt funding cutbacks on many morale, welfare and recreation (MWR) programs. The Army had planned to make cuts at the beginning of the fiscal year (Saturday, Oct.

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