Vets Upset COLA Reduction Remains for New Troops
Military.com
by Bryant Jordan
Feb 14, 2014
Veterans welcomed the repeal of the reduction of the cost-of-living-adjustment for retirees starting in 2016, but veterans' advocate groups are disappointed the reduction will still apply to new troops.
The bill now awaiting President Obama's signature grandfathers current retirees and troops as of Dec. 31, 2013, from COLA cuts that were created as a deficit reduction measure. However, troops entering service after that date will see smaller COLAs when they begin retiring in 2034.
Representatives for several veterans organizations say that's not fair and want to see the entire law scrapped.
"Future military retirees will be required to serve just as long and perhaps sacrifice even more than their predecessors," Veterans of Foreign Wars national spokesman Joe Davis said. "It is in that regard that the VFW will continue to fight for a full repeal of the COLA penalty, and we hope that this vote will continue that conversation."
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