- Created on Wednesday, 15 January 2014 20:30
- Written by IVN
Washington, DC - Congressman Juan Vargas (CA-51) is a proud cosponsor of H.R. 3804, introduced by Rep. Julia Brownley (CA-26), which would repeal the provision in the Bipartisan Budget Act (H.J.Res. 59) that reduces the Cost-of-Living-Adjustment (COLA) for military retirees under the age of 62.
“The nation’s budget should not be balanced on the backs of our veterans, who have put their lives at risk in defense of our country,” said Rep. Vargas. “Our men and women in uniform deserve to know that when they retire, they will receive the benefits they have rightfully earned. Repealing the COLA reduction is the moral thing to do."
Members of the military who have served their country for 20 years may retire and collect a pension. Many military retirees begin second careers while receiving military retirement pay. The Bipartisan Budget Act, which was signed into law in December of 2013, cut military retirement Cost-of-Living Adjustments by 1% for working-age retirees who are under the age of 62.
“Protecting the retirement benefits of those who have spent their lives in harm’s way is one way our nation can show its gratitude for the immense sacrifices our service members make,” said Congressman Vargas.