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Veteran's pensions cut


The Congressional budget deal reached last week could take money from some military retirees.
As Channel Three's Laura Hussey explains, the plan to trim cost of living increases from pensions is taking a lot of fire.

Only about 17% of military members ever collect a pension. You're only eligible if you stay in 20 years or more, like a number of the veterans here at VFW post 7674"
    Kevin Thurman retired after thirty years of service.
   
At 50, he's one of the "working-age" retirees who now faces a cut in his cost of living adjustments.
   
As part of the Congressional budget deal, retirees under 62 would have their cost of living increases reduced by one percent a year.
   
When they turn 62, a "catch-up" increase would restore their payments to the amount  they would have been without the cuts.
   
But depending on rank and retirement age, retirees could lose tens of thousands of dollars in between.
 
Kevin Thurman said, "It was disbelief, it really came across that somebody threw it out to test the water, but how could our Congress and Senators do that to us? It's just nothing you would ever believe."

The push back on this has been so strong that lawmakers are now saying they might reconsider their decision in the New Year.