Will U.S.troops be armed with 401k's? Pension reform could be coming to the Military retirement system.
FOX News Radio's Jared Halpern has the story in Washington DC:
401-K style savings accounts could replace guaranteed pensions. The plan being considered by a Pentagon task-force looking to cut costs and make the retirement pay system more fair. As it stands, Veterans serving at least 20 years get a pension that totals half their active duty pay for life. A program the task-force calls unsustainable. But critics say the savings accounts won't be spared from market fluctuations. Any change in Military retirement pay would need Congressional approval.
In Washington, Jared Halpern, FOX News Radio.
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