Revolt of the admirals: part deaux

Article Abstract:

The commissioning of the Navy's newest aircraft carrier, the USS Harry S. Truman, represents an irony of sorts. Truman's administration canceled plans to build the first supercarrier, the United States. It also proposed a defense policy that, had it not fiercely and successfully been opposed in 1949, would have relegated the Navy to playing a secondary role to the Air Force. Even more ironical is the fact that the USS Harry S. Truman has been commissioned by a president whose administration has delayed the next-generation aircraft carrier, the CVX, and whose budget has doomed the Navy to a future force of fewer than 300 ships.

Dept of the Navy

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Military thrift savings plan scheduled to begin in a year

Article Abstract:

Active duty and drilling reservists will be entitled to deposit up to 5% of basic pay and a portion of their bonuses into a government-run, tax- deferred savings plan, with investment options similar to those offered to federal civilian employees by Oct 2001. Congress is expected to address all funding issues that would establish a military Thrift Savings Plan by this fall. The limit of total contributions into a TSP is set at $10,500 a year, the IRS limit for 401(k) contributions.

Military Reserves

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