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The purpose of this thesis is to explore the monetary effect of implementing an alternative military retirement system for incoming active duty service members who retire after a minimum of 20 years of service. This alternative system combines elements of both a defined contribution plan and a defined benefit plan. Upon entering the military, all members would have a monthly contribution placed into the Thrift Savings Plan (TSP) on their behalf in exchange for a decreased monthly payment from the government upon retirement. The research model is based on case studies of Air Force members using historical data and Monte Carlo simulation. The results include an in-depth sensitivity analysis on various influential factors such as individual career length, inflation, and TSP rate of return. The research indicates that this alternative system may be able to generate substantial cost savings for the government. In addition, results show a likelihood of equal or increased monetary benefits for military members after retirement. The proposed alternative plan supplies a promising combination of retiree benefits and government savings.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
