Congress is expected to vote this month on a budget legislation that would mean a cut to military retirement pay. The pension cut was signed Dec. 26 by President Obama.
According to the Washington Post, the cut is expected to save the government about $6 billion over 10 years, and it is set to be phased in over three years.
Several House and Senate lawmakers in both parties, responding to heavy lobbying from advocates for service members and veterans, already have introduced bills that would restore full cost-of-living, or COLA increases for military retirees of working age.
The budget legislation also requires newly hired civilian federal employees to contribute more to their pensions.
Click here to read the full article from the Washington Post.
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