COLA cap would cut lifetime retirement of service members
The yearly value of a 20-year military retirement would be cut for the current force steadily until age 62 under a COLA cap provision in the “bipartisan” budget deal struck by Rep. Paul Ryan R-Wis., and Sen. Patty Murray, D-Wash., the House and Senate budget committee chairmen. The cumulative effect would be to cut the lifetime value of military retirement by roughly $83,000 for a typical enlisted member who retires at age 40 after 20 years’ service. The typical officer retiring at age 42 after 20 would lose about $124,000…Read More
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