Excellent article describing the need for reform of the 20-yr cliff-vesting retirement for military. The third chart was very revealing, and definitely conforms with views I’ve always heard in the military as one approaches the 10-15 year point.
The third figure is mine, and one look explains the 20-year bubble. It shows the value of each additional year of work during an officer’s career, which escalates up to $1 million during year 20 and collapses during year 21. Every service member contemplating retirement is well aware of the money at stake represented in this third figure.