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"This study investigates the worth of a 401(k), savings and investment plan for the United States Army. My thesis statement is - Should the Army implement a 401(k) savings and investment program to improve recruitment and retention of soldiers? The methodology I used was to look at the proposed changes to the military retirement system since 1993. There have been plenty of initiatives to change and ultimately reduce the military retirement system. My research focused on savings and investment programs that are of importance to soldiers. There has been talk of implementing some type of plan but that was all it turned out to be - talk. Most recruits join for reasons other than money or some type of monetary payoff. Most join for the purpose of education, to learn a job skill, to travel or for patriotic reasons. I determined that most soldiers choose to leave the Army because of low base pay, reduced quality of life and increased amount of family separation. What is interesting to note here is that the category of retirement benefits was growing significantly as a reason for soldiers leaving the military. I wanted to find out if there is a benefit to the Army in implementing a 401(k) program. I determined that there would be no additional duties for the Army personnel department in implementing a 401(k). The Federal Retirement Thrift Investment Board would implement and administer the 401(k) and I estimate that only 12 percent would take advantage of the program. Today, IRA's are the only instruments soldiers can use for tax-deferred savings. Ultimately, my research determined that the lack of a 401(k) program, as a single entity, has not caused the current decline in recruitment or retention in the Army. If a 401(k) program would be implemented today, it would not change the recruitment or retention rates of the Army. Increasing the current retirement benefits program and implementing a 401(k) will improve recruitment and retention. Surveys show that deteriorating re
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