U.S. military pay reforms could save $12 billion yearly: panel

By David Alexander WASHINGTON (Reuters) - A congressionally appointed panel on U.S. military compensation recommended overhauling retirement and healthcare benefits on Thursday to improve services offered to troops and families while cutting costs by up to $12.6 billion annually. The nine-member panel, including former military leaders and lawmakers, recommended the Pentagon broaden its retirement benefits to provide 401(K)-style savings plans for most service members while retaining a slimmed-down version of its current 20-year retirement plan. It also recommended reforming the health system for military families and younger retirees, replacing much of the current Tricare system with commercial insurance that would improve access to care. The report's release drew a muted response, with President Barack Obama and other senior leaders thanking the panel and promising to study its findings.



via Health News Headlines - Yahoo News http://ift.tt/1BAJdWi