As reported here:
The Washington Free Beacon reported that under the budget agreement crafted by House Budget Committee Chairman Paul Ryan (R., Wisc.) and Senate Budget Committee Chairman Patty Murray (D., Wash.), military retirees younger than 62 will receive 1 percentage point less in their annual cost-of-living adjustment (COLA). ...
A loss of one percentage point in their COLA translates into thousands of dollars in lost retirement income. ...
If an E-7 retires at 40, they would lose $83,000. Commissioned officers could lose much more. Lieutenant colonels and commanders (an O-5 rank) who retire at 40 would lose $124,000.
----------------------------------------
Senate Republicans who oppose the cuts to military retirements are saying so loudly but will most probably be defeated in the Senate next week when the budget deal comes up for a vote in the Democrat controlled chamber.
