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| December 2003 |
P.O. Box 712, Dover, NH 03820 |
Volume 24, No. 5
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SEASONS
GREETINGS! |
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Defense Authorization Act Information from MOAA'S Legislative Update of 11/26/03 President
Bush signed the FY2004 Defense Authorization
Act into law on Monday, November 24, 2003. Among other things,
this
legislation:
(1) Phases out the disability offset to retired pay for members (including Guard/Reserve) with 20+ years of service and 50% or higher VA disability ratings. (2) Pays combat-related special compensation to members with any qualifying combat or operations-related disabilities. (3) Provides an average 4.15% January pay raise for active duty, Guard and Reserve members. (4) Changes the permanent law to
link future military raises to private
sector pay growth.
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(6) Extends premium-based TRICARE eligibility to Selected
Reservists
who do not have health coverage through a private employer.
COLA According
to the Defense Finance and Accounting Service
(DFAS), military retirees who retired before January 1, 2003, will
receive
a 2.1% cost of living adjustment (COLA). This adjustment is for
the
2004 calendar year, and should appear as an increase in the January
2004
payments.
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