More bad information and nonsense from the political right (yeah, I said right, sadly) Veterans Pensions

2013

Retirement after 20 years, retirement at age 40, really? Can you “retire” at age 40 with a lifetime income and any COLA? It’s like, hey fellas, virtually no Americans have a pension, let alone one with a COLA…except government retirees.

But that’s not even the nonsense part.

From Allen West.com

The FY 2014 budget proposal drafted by Sen. Patty Murray and Rep. Paul Ryan includes a provision that cuts the annual Cost of Living Adjustment (COLA) for military retirees by 1 percent a year until reaching age 62.

The cuts will have a devastating and long-lasting impact, reducing retired pay for those who serve a 20-year career by nearly 20 percent at age 62. An E-7 retiring at age 40 today would experience a loss of $83,000 in purchasing power — an O-5 would lose $124,000.

Act now. Send your elected officials an MOAA-suggested message imploring them to reject this radical proposal that breaks faith with current and future military retirees, and threatens long-term readiness and retention in the uniformed services.”

Here are the facts on how the COLA reduction works. The full pension as if there were no cut in the COLA is fully restored at age 62 and the individuals receive full COLA thereafter.

Not even conservatives know what cutting spending means and are apparently as influenced by perceptions as the populists.