Military VS Civilian Compensation - 1301 Words

Military Compensation versus Civilian Compensation Military Compensation versus Civilian Compensation The advantages of a career in the U.S. military greatly outweigh working in a civilian career when considering compensation such as education, salary, health care, and retirement. In today’s economy, everyone is looking to receive the most from his or her employer. A person wants a salary that can provide for his or her family, a healthcare plan with little out-of-pocket cost, retirement benefits to plan for the future, and an education that makes it all that possible. The military offers exemplary tuition assistance and salary when benefits such as the basic housing allowance are taken into†¦show more content†¦Becoming eligible for a defined-benefit plan requires that employees work for the company for a minimum of five years; however, retirement payouts are larger the longer an employee stays with a company. Civilian employees must also wait until at least age 62 to retire and can retire anytime between the age 62 and 70; however, retirement benefits are reduced wh en an employee retires early. Military retirement plans are very different from their civilian counterparts, in that military service members do not invest any money into their retirement plan. After 15 years of service a military employee can choose between two plans: a standard High-3 plan or a Redux retirement plan. The standard High-3 plan bases retirement pay on the highest average basic pay for 36 months of a service member’s career. Choosing the Redux retirement plan, a service member will receive a $30,000.00 bonus, a percentage-based annuity, and basic pay. Military employees can retire after 20 years of service, so the average age of a service member at retirement is age 40. Another remarkable benefit that military service members can use for retirement is a thrift savings plan that resembles a civilian 401k. The most significant difference in a thrift savings plan is that the military does not match any employee contributions. By not matching what a service member investsShow MoreRelatedAgent Orange : A Herbicide Mixture Used By The Us Military During The Vietnam War Essay1350 Words   |  6 PagesAgent Orange is a herbicide mixture used by the US military during the Vietnam War. (Agent Orange Vietnam War History). The Department of defense advance project (DARPA) had an important role in the U.S development of herbicides as a military weapon (usa.gov). The first large scale defoliation by the US military took place in Fort Drum using a chemical called agent purple and a spray system that was the model for the one used in Vietnam (Buckingham). 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