KBTX | Bryan & College Station, TX | Aggieland News

Military Pension Bill Advances in Senate

By: Associated Press Email
By: Associated Press Email

 Good to Know:

  • The legislation would cost $7 billion over 10 years
  • If passed, the bill would restore cost of living increases to pension benefits for military retirees under age 62.

WASHINGTON (AP) - The Senate has taken the first step toward approving legislation that restores full cost of living increases to pension benefits for military retirees under age 62, although it's unclear when the measure may pass.

Monday's vote was 94-0 to advance the bill over an initial hurdle.

As drafted by majority Democrats, the $7 billion, 10-year cost of the legislation would add to the deficit. Republicans want cuts elsewhere in the budget to prevent that from happening.

The measure would reverse one part of a budget bill that cleared Congress late last year. Under the provision, cost-of-living increases in pension benefits for military retirees under age 62 would be held below the rate of inflation beginning in 2015. Veterans groups have strongly protested the change.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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