By Samantha L. Quigley
American Forces Press Service
March 21, 2007 – Parents of even young children often wonder how they'll pay for college tuition, but military service organizations are taking some uncertainty out of the equation. The Military Officers Association of America and the United Services Automobile Association both offer college savings plans to help servicemembers defray the cost of college educations long before the bill arrives in the mail.
MOAA and USAA also are members of America Supports You, a Defense Department program highlighting the ways Americans and the corporate sector are supporting the nation's servicemembers.
Both organizations offer state-sponsored 529 College Savings Plans, which are available in nearly every state.
MOAA's "Degrees of Success" plan, chosen for its low fees and expenses, has been available to all servicemembers since November, Phil Dyer, MOAA's deputy director of financial education, said. It also offers a waiver of the typical $3,000 initial fee. The waiver requires enrollment through the MOAA Web site and participation in a $50 automatic payment plan.
Dyer, who is also a certified financial planner, said the frequency of that payment is flexible.
The $3,000 waiver is automatically available to all enlisted personnel. Officers wishing to take advantage of the benefit must be MOAA members, however, Dyer said.
Investing in a 529 plan is much like investing in mutual funds, Dyer said. "Some are fixed income choices, which may return 4 percent a year, but most of them are tied to a basket of stock market mutual funds," he added.
If an investor doesn't want to play the market when it comes to paying for college, there's an option that will put minds at ease, Dyer said. "Most 529 plans will have what is called an age-weighted option, ... kind of like a fire-and-forget missile," he said. "You just pick the maturity year that you want and then they will automatically adjust the investments as you draw closer to that to make it more conservative."
The 529 plans also offer benefits beyond defraying the cost of college before the child begins classes. For instance, withdrawals used for qualified educational expenses are state and federal income tax exempt, Dyer said. Qualifying expenses include participation in accredited trade school programs, undergraduate study at two- and four-year schools, and graduate programs, Dyer added.
Owners of these savings plans -- generally parents -- are free to change the beneficiary once a year with no penalty, he said. That feature is useful if a beneficiary child, for whatever reason, doesn't use the money saved.
"If you get to the end of the line and nobody's used the money, ... you (can) take the money out for a nonqualified education expense and it's treated just like a premature (individual retirement account) distribution," Dyer said. "What that means is ... that anything you take out is going to be added to your taxable income for the year."
The money also incurs a 10 percent "non-qualifying withdrawal" tax penalty, he said.
While USAA offers a similar plan, the terms are a little different, June Walbert, a certified financial planner with USAA, said. USAA members can open an account for as little as $250 with a subsequent $50 per month contribution. The organization also offers an additional feature to help boost a 529 College Savings Plan's bottom line.
"Our program is linked with the Upromise rewards service, which means that if you register a credit card or a debit card with Upromise -- without any catches or without any fees -- if you shop and use certain products, ... then you can get Upromise rewards credited directly to your 529 College Savings Plan," she said. The Upromise program is connected with thousands of retailers and restaurants.
In addition to the 529 College Savings Plan, USAA offers another option, the Coverdell Education Savings Account. Money in a Coverdell account can be used for education beginning at the elementary level and continuing through higher education, Walbert said.
"So if the parent starts a Coverdell Education Savings Account when the kiddo is born, a few years later they can start withdrawing the money after it's had some time to percolate, if you will, in the market," she said.
The Coverdell plan has slightly different guidelines from 529 plans, she added. There is a $2,000 a year contribution limit, and there are income parameters imposed by the Internal Revenue Service. "So you can't make too much money and still qualify for the Coverdell Education Savings Account," Walbert said.
One form of college savings plan that Walbert cautions parents about is the 529 Pre-paid Tuition Plan, which is valid only in the state it's linked to. It's a little riskier, she said, and that risk has more to do with a child's choice of schools than stock market fluctuations.
"None of us know where our kids want to go to school, number one," Walbert said. "With a 529 Pre-paid Tuition Plan, (investors) are buying tuition credits for the future at today's rates, ... and the requirement is that you go to school in that state."
Article sponsored by military and police personnel who have authored books as well as criminal justice online leadership.
Thursday, March 22, 2007
Pace Says Military Stretched but Able to Handle Any Threat
By Jim Garamone
American Forces Press Service
March 21, 2007 – The U.S. military is stretched, but it is able to do all missions the country asks of it, the chairman of the Joint Chiefs of Staff said here today. Marine Gen. Peter Pace said during a news roundtable with Japanese reporters that actions in Iraq and Afghanistan have stretched the U.S. military, but there is ample capability in the services to handle any mission, anywhere in the world.
Pace said he submitted his risk assessment to the U.S. Congress in January. That classified document is the chairman's evaluation of whether the U.S. military can do all the missions it might be asked to do. "What is public is that it is my assessment that we can handle any additional threat that might come our way," Pace said.
But because of operations in support of the global war on terror, the timelines that the military might need to accomplish those missions might be longer than what would be ideal. "There is no question that we would prevail against an adversary," he said. "But we would probably not be able to do it as quickly and as efficiently as our own plans call for."
Pace said that people often confuse what the military would like to do with what it can do if called upon. He used Army deployments as an example. He said the Army would like to have one-year deployments followed by two years at home stations. Instead, the U.S. Army has one-year deployments with one year at home stations. "That type of rotation is not what we would like to do, but it is sustainable," he said.
But, if called on, the military could do more, Pace said. If another threat developed, the forces already deployed would continue what they are doing, and the Air Force, Navy and reserve components would handle that new threat, the general said. "But again, because you would have to do some mobilization, the timeline would be longer than we would prefer," he said.
Pace said roughly 400,000 U.S. servicemembers are engaged in operations in Iraq, Afghanistan, the Horn of Africa and in operations in support of the war on terror in other parts of the world. With 2.4 million American in uniform, there is still "enormous power" to handle any further threat.
Article sponsored by military and police personnel who have authored books as well as criminal justice online leadership.
American Forces Press Service
March 21, 2007 – The U.S. military is stretched, but it is able to do all missions the country asks of it, the chairman of the Joint Chiefs of Staff said here today. Marine Gen. Peter Pace said during a news roundtable with Japanese reporters that actions in Iraq and Afghanistan have stretched the U.S. military, but there is ample capability in the services to handle any mission, anywhere in the world.
Pace said he submitted his risk assessment to the U.S. Congress in January. That classified document is the chairman's evaluation of whether the U.S. military can do all the missions it might be asked to do. "What is public is that it is my assessment that we can handle any additional threat that might come our way," Pace said.
But because of operations in support of the global war on terror, the timelines that the military might need to accomplish those missions might be longer than what would be ideal. "There is no question that we would prevail against an adversary," he said. "But we would probably not be able to do it as quickly and as efficiently as our own plans call for."
Pace said that people often confuse what the military would like to do with what it can do if called upon. He used Army deployments as an example. He said the Army would like to have one-year deployments followed by two years at home stations. Instead, the U.S. Army has one-year deployments with one year at home stations. "That type of rotation is not what we would like to do, but it is sustainable," he said.
But, if called on, the military could do more, Pace said. If another threat developed, the forces already deployed would continue what they are doing, and the Air Force, Navy and reserve components would handle that new threat, the general said. "But again, because you would have to do some mobilization, the timeline would be longer than we would prefer," he said.
Pace said roughly 400,000 U.S. servicemembers are engaged in operations in Iraq, Afghanistan, the Horn of Africa and in operations in support of the war on terror in other parts of the world. With 2.4 million American in uniform, there is still "enormous power" to handle any further threat.
Article sponsored by military and police personnel who have authored books as well as criminal justice online leadership.
Joint Chiefs Chairman Optimistic About Relations With China
By Jim Garamone
American Forces Press Service
March 21, 2007 – On the eve of his first trip to China, the chairman of the Joint Chiefs of Staff said today he is optimistic about relations with the world's largest communist nation. Marine Gen. Peter Pace said trade can be a way for the United States and all countries of the region to become more closely tied and to better understand one another. Pace spoke during a news conference here.
In a 39-year career, the chairman has served around the periphery of China: Vietnam, Thailand, Korea and Japan. When he started his career in 1967, the United States didn't have diplomatic relations with what was then known as "Red China." Today, the People's Republic of China is working with the United States in the Six-Party Talks on the North Korean nuclear program, China's economy is growing at 8 percent a year, and the country is the United States' largest overseas trading partner.
The trade situation is important even from a military perspective, Pace said. "The more economic ties we have with each other, the more dependent you become on each other, the more you understand each other, the less the likelihood of miscalculations or misunderstandings," he said.
Pace said part of his responsibility as the top-ranking military officer in the United States is to understand the military capacities of nations around the world and to ensure that the United States military has the capacity to adjust and prevail over any adversary. It doesn't matter what country that is, he said, but he stressed the distinction between "capacity" and "threat."
"From a purely military standpoint," he explained, "a threat is defined as a capacity coupled with intent. There are many countries around the world that have the capacity to do harm, but they don't have the intent to do harm."
Pace said he will meet with Chinese military leaders and discuss new ways to work together. He said he would like to see more maritime search-and-rescue exercises with the Chinese, something that the two countries have held in the past. He called those exercises good confidence-building measures.
The general added that he'd also like to see the contacts between China and the United States reach more ranks. For example, he said, he would like to see junior officers from the United States and China attend the same schools.
"When you get to know each other and know how each other thinks, you build trust and confidence," he said. "I'm looking for ways to respect China as a nation that deserves respect."
He said he will work with his Chinese counterpart to be "more transparent with each other."
Article sponsored by military and police personnel who have authored books as well as criminal justice online leadership.
American Forces Press Service
March 21, 2007 – On the eve of his first trip to China, the chairman of the Joint Chiefs of Staff said today he is optimistic about relations with the world's largest communist nation. Marine Gen. Peter Pace said trade can be a way for the United States and all countries of the region to become more closely tied and to better understand one another. Pace spoke during a news conference here.
In a 39-year career, the chairman has served around the periphery of China: Vietnam, Thailand, Korea and Japan. When he started his career in 1967, the United States didn't have diplomatic relations with what was then known as "Red China." Today, the People's Republic of China is working with the United States in the Six-Party Talks on the North Korean nuclear program, China's economy is growing at 8 percent a year, and the country is the United States' largest overseas trading partner.
The trade situation is important even from a military perspective, Pace said. "The more economic ties we have with each other, the more dependent you become on each other, the more you understand each other, the less the likelihood of miscalculations or misunderstandings," he said.
Pace said part of his responsibility as the top-ranking military officer in the United States is to understand the military capacities of nations around the world and to ensure that the United States military has the capacity to adjust and prevail over any adversary. It doesn't matter what country that is, he said, but he stressed the distinction between "capacity" and "threat."
"From a purely military standpoint," he explained, "a threat is defined as a capacity coupled with intent. There are many countries around the world that have the capacity to do harm, but they don't have the intent to do harm."
Pace said he will meet with Chinese military leaders and discuss new ways to work together. He said he would like to see more maritime search-and-rescue exercises with the Chinese, something that the two countries have held in the past. He called those exercises good confidence-building measures.
The general added that he'd also like to see the contacts between China and the United States reach more ranks. For example, he said, he would like to see junior officers from the United States and China attend the same schools.
"When you get to know each other and know how each other thinks, you build trust and confidence," he said. "I'm looking for ways to respect China as a nation that deserves respect."
He said he will work with his Chinese counterpart to be "more transparent with each other."
Article sponsored by military and police personnel who have authored books as well as criminal justice online leadership.
Gifts Boost Wounded Troops' Morale
By Carmen L. Gleason
American Forces Press Service
March 21, 2007 – When soldiers are wounded in combat, they are evacuated from the battlefield to medical centers with literally only the clothes on their backs -- and often those are cut during emergency treatment. When injured servicemembers get to a field hospital or are evacuated to Landstuhl Regional Medical Center in Germany, they have no clothing or personal items. They have absolutely nothing.
The Landstuhl Hospital Care Project reaches out to these wounded warriors by providing comfort and relief items to the medical center in Germany and to field hospitals in Afghanistan and Iraq.
Fleece blankets and break-away warm-up pants are prized items used to keep patients warm while lying on litters during the often cold evacuation flights out of the war zone.
Organization founder Karen Grimord and her staff have shipped more than 14,000 pounds of sweat suits, house slippers and personal hygiene items, as well as other requested items, overseas since the group's inception in December 2004.
The Landstuhl Hospital Care Project is a member of the Defense Department's America Supports You program, which spotlights troop-support efforts and helps to connect home-front groups with servicemembers and their families at home and abroad. The group, based in Stafford, Va., has been a member since December 2006.
The organization works closely with Landstuhl's Pastoral Services Department to meet patients' individual needs. Many donations are based on requests from staff at the medical centers.
"I can't tell you how much we appreciate your excellent efforts," said a medical captain stationed in an overseas facility. "The gifts were the perfect tonic for the men and women in uniform who have suffered serious physical and mental injuries. The best medicine in the world is kindness like yours."
The organization's Web site, www.landstuhlhospitalcareproject.org, has seemingly endless postings that resonate the same message. Medical personnel are grateful to have the supplies to pass out to those who have given so much for their nation.
"Thank you so much - everything we do, it is done better because of your group," another staff member wrote. "It truly makes a difference."
One doctor shared with Grimord that even the packages of gum sent over had a positive effect on members of a unit as they stood by awaiting word on one of their injured team members.
"I passed out a bunch (of gum) to them to calm their nerves and told them that it was a gift from the folks back home that appreciated all their sacrifice and hard work," he said.
Having served overseas as a government contractor during the Bosnia conflict, Grimord has first-hand experience in what servicemembers are going through.
"I know the hardships, the sacrifices, the living conditions, the operating constraints, language barriers, countless sleepless nights, friendships made and the grief of loss," she said. "But that's not the entire answer of why I do this."
Grimord, who is a self-described Army "brat" and has six family members currently serving in the military, said her inspiration comes from more than her deep respect and gratitude for those in uniform.
"I feel it's what I have to do, what I need to do and what is a privilege for me to do," she said. "I am inspired by our military's sense of duty, their loyalty to the nation and to each other."
The organization dedicates each monthly shipment to a servicemember who has made the ultimate sacrifice for the nation. On the 8-by-11-inch address label a brief biography of a fallen troop is printed. Often these are posted in the medical facilities to honor both the troop and his or her family.
"It's a reminder that what we do is not in vain," one nurse reported. "It means a lot to the guys that are back here recovering."
Article sponsored by military and police personnel who have authored books as well as criminal justice online leadership.
American Forces Press Service
March 21, 2007 – When soldiers are wounded in combat, they are evacuated from the battlefield to medical centers with literally only the clothes on their backs -- and often those are cut during emergency treatment. When injured servicemembers get to a field hospital or are evacuated to Landstuhl Regional Medical Center in Germany, they have no clothing or personal items. They have absolutely nothing.
The Landstuhl Hospital Care Project reaches out to these wounded warriors by providing comfort and relief items to the medical center in Germany and to field hospitals in Afghanistan and Iraq.
Fleece blankets and break-away warm-up pants are prized items used to keep patients warm while lying on litters during the often cold evacuation flights out of the war zone.
Organization founder Karen Grimord and her staff have shipped more than 14,000 pounds of sweat suits, house slippers and personal hygiene items, as well as other requested items, overseas since the group's inception in December 2004.
The Landstuhl Hospital Care Project is a member of the Defense Department's America Supports You program, which spotlights troop-support efforts and helps to connect home-front groups with servicemembers and their families at home and abroad. The group, based in Stafford, Va., has been a member since December 2006.
The organization works closely with Landstuhl's Pastoral Services Department to meet patients' individual needs. Many donations are based on requests from staff at the medical centers.
"I can't tell you how much we appreciate your excellent efforts," said a medical captain stationed in an overseas facility. "The gifts were the perfect tonic for the men and women in uniform who have suffered serious physical and mental injuries. The best medicine in the world is kindness like yours."
The organization's Web site, www.landstuhlhospitalcareproject.org, has seemingly endless postings that resonate the same message. Medical personnel are grateful to have the supplies to pass out to those who have given so much for their nation.
"Thank you so much - everything we do, it is done better because of your group," another staff member wrote. "It truly makes a difference."
One doctor shared with Grimord that even the packages of gum sent over had a positive effect on members of a unit as they stood by awaiting word on one of their injured team members.
"I passed out a bunch (of gum) to them to calm their nerves and told them that it was a gift from the folks back home that appreciated all their sacrifice and hard work," he said.
Having served overseas as a government contractor during the Bosnia conflict, Grimord has first-hand experience in what servicemembers are going through.
"I know the hardships, the sacrifices, the living conditions, the operating constraints, language barriers, countless sleepless nights, friendships made and the grief of loss," she said. "But that's not the entire answer of why I do this."
Grimord, who is a self-described Army "brat" and has six family members currently serving in the military, said her inspiration comes from more than her deep respect and gratitude for those in uniform.
"I feel it's what I have to do, what I need to do and what is a privilege for me to do," she said. "I am inspired by our military's sense of duty, their loyalty to the nation and to each other."
The organization dedicates each monthly shipment to a servicemember who has made the ultimate sacrifice for the nation. On the 8-by-11-inch address label a brief biography of a fallen troop is printed. Often these are posted in the medical facilities to honor both the troop and his or her family.
"It's a reminder that what we do is not in vain," one nurse reported. "It means a lot to the guys that are back here recovering."
Article sponsored by military and police personnel who have authored books as well as criminal justice online leadership.
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