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<p>A 2013 Congressional Budget Office report estimates that DOD will need to reduce 2014 to 2021 total costs by $701 billion in order to meet the most stringent limitations set by the Budget Control Act of 2011. It is obvious that DOD must restructure the MRS to achieve the necessary reduction in costs. Too often, however, the department looks to private industry for solutions to DOD problems. While not to be overlooked, private industry is not always the best model by which to develop solutions to military problems. The unique risks to which service members are exposed require a different analogue to ensure a successful comparison and adequate solutions. In this light, a more representative group outside of DOD can be found in law enforcement officers. This study analyzes the retirement systems of DOD service members and the California Highway Patrol in an effort to accurately compare the two.
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<br>Subjects: Military Retirement; Retirement Plans; Public Pension; CalPERS; California Highway Patrol; CHP; Retirement Reform; Net Present Value</div>
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DiCaro, Peter J.</div>
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