Sen. Susan Collins (R-Maine) said on Monday that Senate Committee Chairman Carl Levin (D-Mich.) assured her the committee would review a reduced cost of living adjustment for military retirees before it takes effect.
Under the Bipartisan Budget Act, the annual COLA adjustment of military pensions would be reduced to one percentage point less than the consumer price index beginning in 2016.
“The significant changes to military retirement included in this budget single out current retirees and change the rules for them, and that’s not fair,” Collins said.
Collins cosponsored a bill introduced by Sen. Saxby Chambliss (R-Ga.) that would restore the full COLA adjustmet for military retirees who are younger than 62. She also raised concern about the COLA reduction in a recent letter to Levin.
“This provision, if enacted, would not take effect until January of 2016, and it is my understanding that the chairman of the House Armed Services Committee, (Levin, has) promised to scrutinize this change should it become law after the committees reconvene next year,” Collins said. “We must do everything that we can to honor the service and sacrifice of the brave men and women who have served our country.”
In response, Levin said he would ensure that the committee would have ample time to discuss the COLA reductions and to consider alternatives that yield comparable cost savings in a more equitable way.