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Thread: Budget deal would reduce COLAs for some military retirees

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    Default Budget deal would reduce COLAs for some military retirees

    Under the Bipartisan Budget deal.

    Working-age military retirees would receive an annual pay adjustment that is 1 percentage point less than the rise in consumer prices. For example, the 1.7 percent COLA that took effect on Dec. 1 and will first appear in January checks would be just 0.7 percent for military retirees under age 62 but still be 1.7 percent for older retirees if the proposal were now in effect. (See more at 10 Dec Army Times)

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    Default Re: Budget deal would reduce COLAs for some military retirees

    As long as that is all that is reduced i am ok with it.

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    Default Re: Budget deal would reduce COLAs for some military retirees

    Part of the reasoning behind this makes sense to me. Hitting the 20-mark and retiring from the military can happen as early as age 38. I was 42 when I retired. This is considered within working age... and rightfully so. As many have before me have, I got a GS position and I am well compensated. I don't think I will miss the 1%.
    When things go wrong in your command, start searching for the reason in increasingly larger concentric circles around your own desk.
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    Default Re: Budget deal would reduce COLAs for some military retirees

    The problem I have with this COLA thing is the bait & switch aspect. Our retirements will become less valuable every year and this was NOT what we were promised. A previous generation can raise a similar ruckus about healthcare. Would anyone here be really shocked if our pensions started getting docked at some point in the future?

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    Default Re: Budget deal would reduce COLAs for some military retirees

    I have a problem with this. First, not all "working age" retirees have jobs, or can find jobs. Secondly, cutting COLA is the same as a pay cut. If your pay isn't keeping up with inflation, then you are LOOSING pay. Some of you may think this isn't a big deal, but 1% loss per year in COLA adds up to a 20% reduction in pay (buying power) in 20 years. Would you accept an outright 20% cut in pay right now? If not, then why is it ok in 20 years from now? Third, if Congress can so easily cut your COLA today with a stroke of a pen, then you can bet more cuts can and will happen later. The time to hold the line is now, not when they eventually flat out tell you they're going to cut an immediate 5%, 10% or more.

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    Default Re: Budget deal would reduce COLAs for some military retirees

    Both the big blue muppet and the retired guy make good points. There was an agreement: this many years of service beginning on this date = a specific retirement. I'm High-3, the deal was 50% of average high-3 base pay for 20, plus 2.5% for each year afterwards plus full COLA. If they don't honor COLA (ESPECIALLY if hell ain't raised about it), what's next? If I wanted REDUX retirement I'd have enlisted a year later. WRITE YOUR ELECTED OFFICIALS!
    "Wrong" is one of those concepts that requires witnesses. Catbert, Evil Director of Human Resources

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    Default Re: Budget deal would reduce COLAs for some military retirees

    Quote Originally Posted by Cookie Monster View Post
    The problem I have with this COLA thing is the bait & switch aspect. Our retirements will become less valuable every year and this was NOT what we were promised. A previous generation can raise a similar ruckus about healthcare. Would anyone here be really shocked if our pensions started getting docked at some point in the future?
    True. Often they start with something innocuous and small. Then soon we get hit elsewhere.

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    Default Re: Budget deal would reduce COLAs for some military retirees

    I've always thought that the time when they would attack our pensions, the country would be collapsing, (maybe it is) and there would be far more worse things to worry about. Like the folks above I think this is terrible step in a direction that can't or won't be turned around. Hang on to your ass, this is starting to get disturbing.

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    Default Re: Budget deal would reduce COLAs for some military retirees

    Quote Originally Posted by TSgt"M" View Post
    I've always thought that the time when they would attack our pensions, the country would be collapsing, (maybe it is) and there would be far more worse things to worry about. Like the folks above I think this is terrible step in a direction that can't or won't be turned around. Hang on to your ass, this is starting to get disturbing.
    The time is nigh.

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    Default Re: Budget deal would reduce COLAs for some military retirees

    Quote Originally Posted by TSgt"M" View Post
    I've always thought that the time when they would attack our pensions, the country would be collapsing, (maybe it is) and there would be far more worse things to worry about. Like the folks above I think this is terrible step in a direction that can't or won't be turned around. Hang on to your ass, this is starting to get disturbing.
    This is why anytime I hear general officers, individual politicians and political appointees promise "current retirees and troops will be grandfathered from pension cuts," I know they're full of shit. The House of Representatives controls the purse strings. Anybody else who makes these promises to appease us is being disingenuous, and they know it.
    Last edited by FLAPS, USAF (ret); 12-17-2013 at 10:04 AM.

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