'A Promise Broken': Budget Deal Hits Military Retirees' Pensions
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excerpt....
Veterans groups say the cut could amount to an average cash loss of $80,000 or more for each affected retiree --
and a loss of confidence in the U.S. governments word.
The cut, meant to save an estimated $6 billion over the next decade, does not take effect until 2015, but the battle
over the provision has already started.
The U.S. government has broken their promise and for someone who has committed themselves -- commitments that
can be extremely grueling on a family -- and are pulling 15, 20 years or more, this is a fundamental loss of trust and has
unquestionably hurt morale for active members, said retired Vice Admiral Norbert Ryan, president and CEO of the Military
Officers Association of America (MOAA), a non-profit focused on military advocacy.
<broken link removed>
excerpt....
Veterans groups say the cut could amount to an average cash loss of $80,000 or more for each affected retiree --
and a loss of confidence in the U.S. governments word.
The cut, meant to save an estimated $6 billion over the next decade, does not take effect until 2015, but the battle
over the provision has already started.
The U.S. government has broken their promise and for someone who has committed themselves -- commitments that
can be extremely grueling on a family -- and are pulling 15, 20 years or more, this is a fundamental loss of trust and has
unquestionably hurt morale for active members, said retired Vice Admiral Norbert Ryan, president and CEO of the Military
Officers Association of America (MOAA), a non-profit focused on military advocacy.