Military members and retirees could be moved to the Thrift Savings Plan and the Federal Employee Health Benefits Program, according to a proposal by the Military Compensation and Retirement Modernization Commission.
According to Military Times, which discovered details of the report before its release, the commission recommended future servicemembers should be transitioned from a pension program to a hybrid form that relied on TSP contributions.
Military members would be automatically enrolled in the plan, and the Defense Department would make contributions to the account during the years the member serves.
The report also says that service members and retirees could also be moved into the FEHBP as part of a plan to reduce overall costs and streamline the retirement system, according to Military Times.
The potential impact of moving millions of people is not known, however, as the Office of Personnel Management has not yet had a chance to study the report, according to the agency.
"We are thoughtfully studying the recommendation and analyzing its impact and feasibility," an OPM spokesman said.
