The recently negotiated budget agreement (H. J. Res. 59) released on Tuesday, December 10, mandates a one-percent cut every year for future Cost of Living Adjustment (COLA) for military retired pay for those under age 62.
The potential impact of this cut cannot be ignored. If it is passed, retirees who have served a full 20-year career could lose up to 20 percent of their retired pay. For instance, a sailor retiring at age 40 today would lose over $80,000.
Members are urged to use the Action Center to ask their Senators and their Representative to oppose this provision in the budget agreement: http://action.fra.org/action-center/.