This article examines five aspects of the retired military community. First, because of ongoing reductions of U.S. forces, the retiree population is growing rapidly; it will number about 1.9 million members by the year 2000. Second, military retirement costs will reach $38.40 billion and amount to 15-17% of defense outlays by the end of the decade. Third, the end of the Cold War and concern about the federal deficit have weakened political support for retiree entitlements. As a result, military retirees can expect an erosion of benefits over the remainder of this decade-despite improved representational strategies by the retiree associations. Fourth, recent military retirees are encountering delays in obtaining civilian employment; in response, they have become more willing to accept less attractive or less remunerative positions. Finally, California, Florida, Texas, and other sunbelt states are attractive retirement locales. Access to a military facility, however, remains an important element in residence decisions.