Dramatic changes coming to military retirements

THERE’S A LOT OF BUZZ ABOUT A REPORT MONDAY BY CBS NEWS saying DOD is considering radical changes to the military retirement system as part of its budget review. The report cites “closely-held” discussions about a July 21 draft proposal by the Defense Business Board which calls the current system unfair and unaffordable and proposes it be replaced with a defined contribution plan. The draft is expected to be finalized by the end of this month. You can see it here: http://1.usa.gov/oBrHrd

BUT WE ALREADY KNEW RETIREMENT WAS GOING TO BE ON THE TABLE. Before he left office, Gates made clear that he wanted the review to look at changes in the retirement structure that were radical and potentially explosive, but doable in the current budget climate. “We may have a political window here where we can look at the long-term interests of the military as well as the budgetary interest and see if we can’t do some smart things that politically have been impossible up to now,” he said in his AEI speech in May.

THE PENTAGON IG IS REVIEWING EVERY CONTRACT signed by DARPA since Regina Dugan became director two years ago, in light of the fact that the agency has signed millions of dollars’ worth of contracts with her family firm, which in turn owes her at least a quarter-million dollars. Darpa representatives have insisted that the agency acted properly in its dealings with RedXDefense – the bomb detection firm Dugan co-founded with her father, Vince Dugan. Wired’s Noah Shachtman has the story here: http://bit.ly/oArraw
Go to POLITICO Morning Defense Now >> http://www.politico.com/morningdefense

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