Why Soldiers Passed on New Retirement Plan

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Why Soldiers Passed on New Retirement Plan

The Army's top personnel official offered a House subcommittee two good reasons why soldiers had a low sign-up rate for the new Blended Retirement System.

One reason is that many soldiers intend to stay in the Army until retirement. A second is that the plan doesn’t allow retirement savings to be used until age 59½, limiting the value of the benefits for starting a post-service business or buying a home.

Army Unemployment Pay Lowest in 13 Years

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Army Unemployment Pay Lowest in 13 Years

The Army closed fiscal 2016 paying $172.8 million in unemployment compensation, the lowest level for the service in 13 years, according to the U.S. Army Human Resources Command.

It marked the first time the amount has dipped below $200 million since fiscal 2003, when it came in at $152 million. The 2016 figure is also far below the peak of $515 million, which was paid in fiscal 2011.

Army officials credit several initiatives preparing soldiers to establish civilian careers for the declining unemployment compensation.