01-15-2014, 09:14 AM
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Senior Member
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Join Date: Jan 2002
Location: Indian Springs, Nevada
Posts: 1,521
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Your retirement check isn't going as far as it used to...
If a person joined the military at 22, retired at 42, collected military retirement pay under the CURRENT rules, at age 62 the value of that retirement would be more than 20% less due COLA being 1% less than the Consumer Price Index increase. This rate continues at less than the Consumer Price Index increase for life so 30% less at 30 years after retirement.
This is current law.
With the new Paul Ryan/Patty Murray plan, the same person at age 62 will have a retirement with a value that will be more than 40% less with a promise to start paying 20% of the reduced value.
Why “more than”? Compounding.
Who believes that military retirees and disabled will get back the % taken from them when they turn 62.
A cynical person might say that they are putting veterans off while many of them die.
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