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dc.contributor.advisorGates, William
dc.contributor.advisorLandry, Steven
dc.contributor.authorHolley, G. Steele
dc.dateJun-14
dc.date.accessioned2014-08-13T20:17:45Z
dc.date.available2014-08-13T20:17:45Z
dc.date.issued2014-06
dc.identifier.urihttp://hdl.handle.net/10945/42648
dc.description.abstractSince 1948, a number of commissions have attempted to reform the military retirement system. Today’s military retirement system, however, still remains largely the same as then. Previous reform proposals attempted to alleviate the four primary criticisms of the retirement system: growing cost, inequity to those with fewer than 20 years of service, hindered force manning, and a lack of civilian comparability. Hybrid defined benefit plans called cash balance plans are increasing in popularity in the private sector and contain defined contribution aspects. These cash balance plans provide a more conservative approach to retirement by placing more of the risk on the employer. This thesis presents an alternative approach to retirement system modernization that addresses the four primary criticisms. By incorporating a cash balance system in lieu of a defined contribution component and maintaining an old age annuity, a plan is proposed that still provides comparable retirement income to today’s system. The proposed system provides a higher present value than the current system and a system that the Department of Defense proposed in March 2014 for any discount rate above 4.85 percent. The proposed alternative system requires lower outlays than the current system and provides higher undiscounted lifetime earnings than the current system. The alternative system proposed in this thesis offers a viable modernization alternative for military retirement.en_US
dc.description.urihttp://archive.org/details/incorporatingpri1094542648
dc.publisherMonterey, California: Naval Postgraduate Schoolen_US
dc.rightsThis publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.en_US
dc.titleIncorporating private sector ideas into military retirement reform: a cash balance plan approachen_US
dc.typeThesisen_US
dc.contributor.departmentGraduate School of Business & Public Policy (GSBPP)
dc.subject.authorRetirementen_US
dc.subject.authorMilitary Retirementen_US
dc.subject.authorCash Balance Planen_US
dc.subject.authorDefined Benefiten_US
dc.subject.authorDefined Contributionen_US
dc.description.recognitionOutstanding Thesisen_US
dc.description.serviceLieutenant Commander, United States Navyen_US
etd.thesisdegree.nameMaster of Business Administrationen_US
etd.thesisdegree.levelMastersen_US
etd.thesisdegree.disciplineBusiness Administrationen_US
etd.thesisdegree.grantorNaval Postgraduate Schoolen_US
dc.description.distributionstatementApproved for public release; distribution is unlimited.


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