Posted by: John S Kiernan

Retirement is typically viewed as the end of the line — a time for rest, relaxation and the pursuit of interests long ago put on the back burner. But the story is far different for military retirees who must deal with the trials of reassimilation into civilian life. For starters, the average officer is only 45 years old — 42 for nondisability enlisted personnel — upon retirement from service. Many of those who reenter the job market face tough challenges during the transition while others struggle with more difficult problems, such as Posttraumatic Stress Disorder, disability and homelessness.

As such, military retirement can be a far more complicated issue than one might assume, given the extent to which state tax policies on military benefits vary, the relative friendliness of different job markets toward veterans, and other socioeconomic factors. This year, the military’s retirement system is also changing for new recruits and current personnel who opt in, going from a “defined benefit” to a “Blended Retirement System” that awards funds not just based on years served but also matches contributions to a “Thrift Savings Plan.”

With that in mind, WalletHub sought to help ease the burden on our nation’s military community by comparing the 50 states and the District of Columbia based on their ability to provide a comfortable military retirement. Our analysis uses a data set of 27 key metrics, ranging from veterans per capita to number of VA health facilities to job opportunities for veterans. Read on for our findings, commentary from a panel of researchers and a full description of our methodology.

1. Main Findings
2. Red States vs. Blue States
3. Ask the Experts
4. Methodology

Main Findings

  Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/3915/geochart-military.html" width="556" height="347" frameBorder="0" scrolling="no"></iframe> <div style="width:556px;font-size:12px;color:#888;">Source: <a href="https://ift.tt/2LguP0d>  

Best States for Military Retirees

Overall Rank (1=Best)	State	Total Score	‘Economic Environment’ Rank	‘Quality of Life’ Rank	‘Health Care’ Rank
1	Florida	61.55	9	5	13
2	Virginia	60.18	3	1	39
3	New Hampshire	59.87	8	9	10
4	Alabama	58.86	1	14	30
5	South Carolina	58.84	15	4	23
6	Maine	58.83	2	21	16
7	South Dakota	58.64	12	40	1
8	Alaska	58.24	17	2	28
9	Idaho	57.45	24	31	2
10	Texas	55.29	5	27	24
11	Montana	55.02	41	13	3
12	Minnesota	54.72	30	25	5
13	Massachusetts	54.70	4	49	7
14	Kentucky	54.02	10	41	11
15	Oklahoma	53.66	21	8	36
16	Louisiana	53.51	14	30	19
17	Wyoming	53.50	29	6	40
18	North Dakota	52.92	36	33	8
19	Missouri	52.91	19	19	22
20	Wisconsin	52.71	32	24	14
21	North Carolina	52.46	31	12	25
22	Georgia	52.37	13	20	38
23	Ohio	52.11	25	38	9
24	Pennsylvania	52.07	43	26	4
25	Utah	51.93	6	45	26
26	Arizona	51.12	38	11	27
27	Maryland	50.99	16	3	51
28	Kansas	50.64	20	22	33
29	Arkansas	50.54	34	34	18
30	Michigan	50.07	27	46	12
31	Washington	49.83	11	36	44
32	Nebraska	49.69	45	17	15
33	Colorado	49.64	37	18	32
34	Connecticut	49.60	42	16	29
35	West Virginia	49.36	18	37	35
36	California	49.00	48	10	17
37	Hawaii	48.75	23	29	43
38	Tennessee	47.93	7	47	41
39	Illinois	47.44	40	42	21
40	Iowa	47.10	33	23	47
41	Delaware	47.06	49	7	42
42	Indiana	46.87	28	44	34
43	Mississippi	46.60	22	32	49
44	Rhode Island	46.16	44	39	20
45	New Jersey	45.48	46	15	46
46	New York	45.32	51	43	6
47	New Mexico	45.17	39	28	48
48	Nevada	43.47	26	48	45
49	Vermont	43.15	50	35	31
50	Oregon	39.90	35	51	37
51	District of Columbia	37.05	47	50	50

Red States vs. Blue States

Ask the Experts

Members of the armed forces deserve a comfortable retirement in exchange for their brave sacrifices. But it’s not easy to readjust to civilian life. For insight and advice on overcoming challenges faced by veteran retirees, we asked a panel of experts to share their thoughts on the following key questions:

1. Should veterans have to pay taxes on retirement pay?
2. What are the most underutilized military retirement benefits?
3. What should veterans consider in choosing where to retire?
4. What are the best economic opportunities for retired military personnel looking for a new career?
5. How can the VA health-care system be improved to better serve veterans and their families?
6. How should the government help the military community?

< >

• Edward J. Dennis Assistant VP, Military and Veterans Affairs, Berkeley College
• Kelli E. Canada LCSW, Ph.D., Assistant Professor, Director of Integrative Behavioral Health Clinic, School of Social Work, University of Missouri

Edward J. Dennis Assistant VP, Military and Veterans Affairs, Berkeley College

Should veterans have to pay taxes on retirement pay?

At a time when our elected officials benefit from a robust retirement system that they voted for, service members' retirement is changing. Depending on the state of residence, state income taxes aren't collected on retirement pay. Less than 2% of the population are retired service members. They served their country and paid taxes, so I believe untaxed retirement income is something they earned.

What are the most underutilized military retirement benefits?

Many retirees don't use the VA Healthcare system because of their distance from facilities.

What should veterans consider in choosing where to retire?

Veterans should consider the tax structure and rules, demographics, weather, employment rate, and quality of living when choosing their retirement location.

What are the best economic opportunities for retired military personnel looking for a new career?

Retired personnel looking for a second career should leverage their military experience, or return to college using the GI Bill to obtain the proper credentials for a new career field.

How can the VA health care system be improved to better serve veterans and their families?

Passage of the Veterans Choice Healthcare Bill. This will allow remote Veterans access in their communities, and Veterans who want to have a shared doctor with their spouse the ability to choose who they visit.

How should the government help the military community?

By acknowledging the contributions and sacrifices that veterans and their families have endured in serving their country. Laws are in place to protect veterans, but not as vigorously pursued as laws in place for other protected classes.

Kelli E. Canada LCSW, Ph.D., Assistant Professor, Director of Integrative Behavioral Health Clinic, School of Social Work, University of Missouri

What should veterans consider in choosing where to retire?

Similar to other retirees, veterans should consider communities with comprehensive health and social services, accessible transportation, and geography. It's important for older adults to have easy to access health care clinics or in-home services. The availability of these services can vary quite a bit from community to community. Although many retirees are able to drive, some prefer not to drive while others are unable. Having reliable transportation through public transit or car services is important to ensure they are able to move around the community. Geography is also important to consider with regard to proximity to family and other supports and climate. Many retirees prefer warmer climates which pose less risk for ice and snow-related obstacles. Retirement communities are a great choice for retirees who want a little support but still want to maintain their independence. Services offered at retirement communities vary but many include at least one prepared meal, onsite clinic, barber shop or hair salon, and van services. Specific to veterans, having a veterans' hospital, VFW post, or other veteran-specific resources is helpful for veterans to stay connected to the military community.

How can the VA health care system be improved to better serve veterans and their families?

The VA health care system is comprehensive and provides services to both veterans and their families. The availability of these services can vary across states with more rural regions often having more challenges in accessing services. Veterans and families could be better served by making sure veterans are aware of the services available to him/her. In my research, veterans were not aware of all the services they could access. Many get this information when they discharge from the military but they may not need services until years later. Having frequent communication and additional outreach efforts may help veterans and their families better understand the services they can access.

Methodology

In order to determine the best and worst states for military retirement, WalletHub compared the 50 states and the District of Columbia across three key dimensions: 1) Economic Environment, 2) Quality of Life and 3) Health Care.

We evaluated those dimensions using 27 relevant metrics, which are listed below with their corresponding weights. Each metric was graded on a 100-point scale, with a score of 100 representing the most favorable conditions for military retirees. For metrics marked with an asterisk (*), we measured the “number of veterans” by the square root of the veteran population in order to avoid overcompensating for small differences among states, considering Veterans Administration (VA) facilities have not increased proportionally with the number of veterans.

We then determined each state and the District’s weighted average across all metrics to calculate its overall score and used the resulting scores to rank-order our sample.

Economic Environment – Total Points: 33.33

• State Tax on Military Pension: Triple Weight (~5.56 Points)
• Tax-Friendliness: Full Weight (~1.85 Points)
• Share of Veteran-Owned Businesses: Full Weight (~1.85 Points)
• Dollars in Defense Department Contracts per Capita: Full Weight (~1.85 Points)
• Job Opportunities for Veterans: Triple Weight (~5.56 Points)
• State Authorization for Veterans’ Preference in Private Hiring: Full Weight (~1.85 Points)
• Veteran Job Fairs per 100,000 Veterans: Full Weight (~1.85 Points)
• Job Growth (2017 vs. 2016): Full Weight (~1.85 Points)
• Military Bases & Installations per 100,000 Veterans: Full Weight (~1.85 Points)
• Total VA Expenditure per Number of Veterans: Full Weight (~1.85 Points)
• Presence of State Help for Returning Veterans: Full Weight (~1.85 Points)
• Presence of Academic Credit for Military Service: Full Weight (~1.85 Points)
• Housing Affordability: Full Weight (~1.85 Points)
• Cost-of-Living Index: Full Weight (~1.85 Points)

Quality of Life – Total Points: 33.33

• Share of Veterans: Full Weight (~3.51 Points)
• Share of Veterans Not Receiving SNAP: Full Weight (~3.51 Points)
• Share of VA Benefits-Administration Facilities per Number of Veterans*: Double Weight (~7.02 Points)
• Quality of University System: Full Weight (~3.51 Points)
• Arts, Leisure & Recreation Establishments per Capita: Half Weight (~1.75 Points)
• Share of Population Aged 40 & Older: Full Weight (~3.51 Points)
• Share of Homeless Veterans: Double Weight (~7.02 Points)
• Idealness of Weather: Full Weight (~3.51 Points)

Health Care – Total Points: 33.33

• Number of VA Health Facilities per Number of Veterans*: Full Weight (~4.76 Points)
• Federal, State, Local & Private Hospitals per Capita: Full Weight (~4.76 Points)
• Physicians per Capita: Full Weight (~4.76 Points)
• Quality of VA Hospitals: Triple Weight (~14.28 Points)
• Presence of Veteran-Treatment Courts: Full Weight (~4.76 Points)

 Sources: Data used to create this ranking were collected from the U.S. Census Bureau, Bureau of Labor Statistics, Military Officers Association of America, USAspending.gov, U.S. Department of Veterans Affairs, MilitaryINSTALLATIONS – U.S. Department of Defense, RecruitMilitary, National Conference of State Legislatures, Center on Budget and Policy Priorities, Council for Community and Economic Research, U.S. Department of Housing and Urban Development, Indeed and WalletHub research.

from Wallet HubWallet Hub


via Finance Xpress