Homework on What are the pros and cons of the new military retirement system. Write a 1750 word paper answering; Retirement from services is the common end to all professions, whether in financial services, educational services, government jobs, or jobs in the defense sector. However, the provisions and procedure of retirement varies from sector to sector and across time periods. The retirement policies followed in the military system, too, has varied greatly with the passage of time. There are large differences between the retirement policies followed by the military in earlier times and the ones practiced in the 20th century. The greatest attraction of a strenuous military career has always been the benefits and incentives offered on retirement. Since the earlier periods, through the World War II era to the current times, dialogues have been exchanged on the subject of reform of the military retirement schemes. The primary focus of all these meetings and discussions was to reduce the government expenditure on the military system, by reducing the monetary compensation paid to the retirees. However, it is interesting to observe “that of the dozens of study groups, commissions, committees, boards, task forces, and the like that have recommended making major structural cuts, only one such has been enacted into law, in 1986 — and that was essentially repealed (i.e., its cuts made voluntary) in 1999, seven years before it would become effective”.