Specific plan can make Redux better option

[unhappycamper]

Specific plan can make Redux better option
By Mark D. Faram - Staff writer
Posted : Sunday Nov 30, 2008 10:57:17 EST

Navy Command Master Chief (SS/AW) John Cooper has been telling sailors about the dangers of taking the Redux retirement option for 10 years now.

During that time, he’s done five tours as a command master chief and has personally counseled more than 40 sailors on what they stand to lose by taking the $30,000 Career Status Bonus — and the reduced retirement annuity that comes with it.

He now travels the world for the Millington, Tenn.-based Center for Career Development, giving lectures to groups of 20 to 200 sailors on the Navy benefits package — including a 10- to 15-minute discussion on Redux.

“Of all those sailors at my past four commands, I only had two that took the bonus,” he said. “I tell them the pros and cons of the programs and, for most, all you have to do is show them the numbers — they can speak for themselves.”

Still, Cooper says there is a “very narrow sliver” of the military population that could come out ahead financially by taking the Redux bonus — if they are smart and patient.


Rest of article at: http://www.airforcetimes.com/news/2008/11/airforce_reduxgame_113008/%2e