A new report says you make twice what you thought
By Rick Maze - Staff writer
A new congressional report recommends a radical overhaul of military compensation. Neither service members nor the lawmakers and policymakers who decide pay levels understand the true value of cash compensation and noncash military benefits, according to the nonpartisan Congressional Budget Office in its report, “Evaluating Military Compensation,” released June 29. When noncash benefits are considered, the CBO says, the military’s compensation package is highly competitive with the private sector.
The problem, the authors argue, is that service members fixate on basic pay and housing allowances, but fail to factor in the value of benefits like family health care, discounted shopping and subsidized child care. Add to that deferred compensation, like retirement and veterans benefits, they say, and the value of members’ compensation is effectively doubled.
More at http://www.marinecorpstimes.com/money/pay_charts/tns_cbo_pay_070709/
CBO report at: http://www.cbo.gov/ftpdocs/82xx/doc8271/06-29-Compensation.pdf
