BREAKING: Obama says no to 401k retirement plans for troops:
The president announced on Thursday that he does not support the blended military retirement plan recommended by a commission of experts earlier this year, just one day after House members included it in their fiscal 2016 defense policy bill.
President Obama said that while he supports 10 of the 15 recommendations from the Military Compensation and Retirement Modernization Commission, he could not support the proposal to have troops contribute to a 401k-like savings plan that would be matched by the government in an effort to offer some retirement benefits to troops who don’t serve 20 years.
Defense Secretary Ashton Carter echoed the president’s remarks, saying that the department will continue to analyze the rejected reforms, including the retirement changes, over the coming months.
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Obama says no to 401k retirement plans for troops – Washington Times