There have been a few letters recently discussing retirement pay and other benefits for military retirees. Some of those retirees appear to by unhappy with their benefits, but from my point of view, the military retirement package is quite generous.
For example, I just noticed that the current rate on the government’s 30-year bond is 3.42 percent. Based on this interest rate and my living another 25 years (which is quite likely in my case), my current after-tax monthly check has a present value more than $600,000. That is, if the government wanted to “cash out” my retirement, it would …