Retiree COLAs targeted in bipartisan budget deal
Subject: COLA Reduction by 1% Each Year
MILITARY RETIREES, PRESENT AND FUTURE – HEADS UP!
The budget deal announced this morning would reduce COLAS for retirees under age 62 by 1% each year.
A proposed bipartisan budget deal threatens to significantly slash retirement benefits for current and future military retirees, and it’s scheduled to be voted on by the House tomorrow. The FY 2014 budget proposal drafted by Sen. Patty Murray and Rep. Paul Ryan includes a provision that cuts the annual Cost of Living Adjustment (COLA) for military retirees by 1 percent a year until reaching age 62.
The cuts will have a devastating and long-lasting impact, reducing retired pay for those who serve a 20 year career by nearly 20 percent over their lifetime. The proposed COLA cut is far worse than the 1986 REDUX retirement cut that had to be repealed after it undermined retention.
Act now. Send your elected officials the message below imploring them to reject this radical proposal that breaks faith with current and future military retirees, and threatens to long term readiness and retention in the uniformed services.
Text of Letter:
I'm writing to ask you to reject a provision within the Senator Patty Murray and Representative Paul Ryan budget proposal that threatens to significantly slash retirement benefits for current and future military retirees.
Their FY 2014 budget proposal includes a provision that cuts the annual Cost of Living Adjustment (COLA) for military retirees by 1 percent each year until age 62.
The cuts will have a devastating and long-lasting impact, reducing retired pay for those who serve a 20 year career by nearly 20 percent over their lifetime. This proposed COLA cut is far worse than the 1986 REDUX retirement cut that had to be repealed after it undermined retention. I'm asking you to reject this radical proposal that breaks faith with current and future military retirees, and threatens to long term readiness and retention in the uniformed services.