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Provisions in National Defense Authorization Act would cut retirement benefits for former military spouses

Legislation

Federal laws allow state family court judges to award a fair share of an employee’s retirement benefit to a former spouse at divorce.

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Is Pension Overhaul A Raw Deal For Career Military?

News Item

Congress is cutting the guaranteed defined benefit pension plan for service members–and to make the change more palatable, adding sweeteners: a 1% base pay contribution and up to 4% match in the government Thrift Savings Plan and lump sum bonuses.

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13 On Your Side Consumer Alert: Pension Advances

News Item

Michigan Attorney General Bill Schuette is warning consumers about a relatively new practice called pension advances.

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"NAFI" Plans: Federal Retirement Programs Not Funded by the Government

Publication

This fact sheet provides an overview of retirement plans that are sponsored by government entities that do not receive funding from Congress. 

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Keep an Eye on Finances During a Divorce

News Item

Divorce at any age will send tremors through your finances. But when it comes later in life, it's sure to upend even the best-laid financial plans.

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How to Find Your Lost Pension Money

News Item

It’s not unusual for a worker to lose track of a pension benefit. Perhaps you left an employer long ago and forgot that you left behind a pension. Or maybe you worked for a company that changed owners or went belly up many years ago, and you figured the pension went with it…but you might have been wrong.

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Divorce: Splitting Up a Rich Military Pension

News Item

Dividing retirement plans in a divorce is never easy. When one spouse is in the military, it gets even harder.

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Military benefit plan may change

News Item

When an eight-year commitment to Uncle Sam was running out a while back, Air Force Maj. James Podany faced a decision: trade the uniform for a private sector gig, or re-up? The 34-year-old Omaha native decided to stay put, and he now plans to remain in at least 20 years — until he is eligible for a military pension.

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Talk of changing military pensions sparks debate

News Item

Driven by the need to cut the defense budget by $450 billion in the next decade, officials have raised the subject of military pensions, which are far more generous than what most Americans receive.

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Oklahoma appreciates its military spouses

Blog entry

Today is Military Spouse Appreciation Day. A fitting day to tell you all that current and former military spouses (especially those in Oklahoma) can breathe a sigh of relief.

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