Veterans Will See Cut in Pensions
Published December 31st, 2013
With the congressional budget deal that was agreed on earlier this month comes distressing news for those who have devoted their career to our military.
Younger veterans will see a cut in their pensions not now, but later on.
One percent of the cost of living will be cut for those who are retiring from the military after 20 years of service.
Those who have been in their shoes before are outraged by this action from Congress.
"To select them and to deny them one percent, it's ludicrous," said Retired Marine and Purple Heart Recipient Bob Gasche.
Bob Gasche is a retired Marine who was wounded in the battle of Imo Jima and received the Purple Heart for his service to his country.
He heard about the new budget deal and how it will be cutting retired veteran's costs of living pensions.
"It is not something that is a handout of any kind, it's something they've earned," said Gasche.
Although these cuts won't affect him, he still feels his younger comrades deserve more.
"How do you put a price on what they did to preserve our country and give us the freedom that we enjoy today?," said Gasche.
"When the media and the government are mentioning pension cuts, they are referring to 20 year service members and their military retirements having adjustments," said Kim Smith with the Alachua County Veterans Services.
For example, instead of having a 3% cost of living adjustment or what ever number Congress decides upon, they will cut one percent off.
According to the Military Officers Association of America, the average pension cut for a retiring Army Sergeant First Class would be about $3,700 per year and could result in close to a $80,000 loss over 20 years.
"It would be a substantial amount of money over a long period of time but over a short period of time, one percent of your income is just a small amount," said Smith.
A small amount now but a large price to pay later on, and that idea does not sit well with veterans.
"Sometimes, i think that weren't involved forget that, the sacrifices that were made to give them the freedom they enjoy," said Gasche.
Those who are disabled or are 62 and older will not be affected by these pension cuts.
The cuts will go into effect when the new budget starts in early January.
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