This is coolbert:
COLA. Cost of Living Adjustment [COLA].
This particular headline has caused consternation and raised hackles in some quarters. NOT however properly understood.
"Ryan O'Connell and Neil Berman: Military pension politics"
"The passage of a bipartisan budget surprised many after the Washington D.C. fiasco of 2013. But having both parties working together does not mean the interests of all are served. No one knows that better than the men and women in, and retired from, our military. They are the most recent victim of budget cuts."
That allegation, that the pensions for retired military veterans are going to be "cut". That word suggesting a lessening of benefits as originally agreed upon. That inference being BETRAYAL!
NOT so fast. We must be aware of and fully in agreement as to what is occurring here.
"What the authors of the budget call pension 'reform,' is simply a cut in military pension benefits for those retired and those currently serving in our armed forces."
"Cut " as meaning a lessening in the rate of INCREASE of pension benefits. The cost-of-living-adjustment as "pegged" to the consumer price index properly accounted for and taken into account. NOT less in the way of benefits, but rather a reduction in the rate of INCREASE!
"The authors are quick to argue that the cut is small — a 1 percent reduction in the annual cost-of-living increase. But the men and women in the armed forces are outraged and we should be too. Their employer has performed a bait-and-switch."
"Cut" that word more correct as a lessening in the rate of increase and not a reduction in the overall amount. "Cut" in this case not in the ordinary, normal, and commonly understood meaning of the word.
Veterans retired living with a pension, rest assured. Or should you?