- Created on Tuesday, 11 February 2014 17:04
- Written by IVN
Washington, DC - Congressman Juan Vargas (CA-51) was proud to support S. 25, which repeals the Cost-of-Living-Adjustment (COLA) reduction enacted by the Bipartisan Budget Act (H.J.Res. 59) for working-age military retirees under the age of 62.
“Protecting the retirement benefits of those who have spent their lives defending our nation is the morally correct thing to do,” said Rep. Vargas. “Our men and women in uniform have made immeasurable sacrifices and should never be asked to forgo their rightfully earned benefits in an attempt to balance the country’s budget.”
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.
“We have become the great nation we are today because of the selflessness of our service members,” said Rep. Vargas. “Upon retirement, we must honor our men and women in uniform by delivering the benefits they were promised.”