Defined benefit plans for new hires are almost non-existant these days as most private and some public sector jobs opt for defined contributions instead. Panetta knows that existing service members must be grandfathered in if and when any changes are made. The life expectancy of a retired service member is much less than average and I read only 13% of enlistees make it to 20 years anyway. I can see the draft boards being activated somewhere down the road.
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