Largest US employer proposes new retirement plans

It's not easy recruiting 18- and 19-year-olds to serve in the military, what with the low pay, the obvious risks and the frequent relocation.

The military's retirement plan hasn't made things easier. Service members with 20 years under their belts are eligible for relatively generous pensions, but if they leave before then, they are out of luck. (There is a thrift savings plan, but it is voluntary and contributions are not matched.)

According to a January report by the Military Compensation and Retirement Modernization Commission, which recommended changes to military retirement plans and more, under current rules, "83 percent of all enlisted personnel and 51 percent of officers receive no retirement savings for their service."

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