Last week, U.S. Rep. Charlie Crist, D-Fla., brought out a proposal to help protect retired veterans who served in the United States Coast Guard (USCG).
Crist introduced the “Coast Guard Retirement Parity Act” with U.S. Rep. Steven Palazzo, R-Miss., and the Tampa Bay congressman’s office offered some of the rationales behind why Coast Guard retirees should be included in the Military Retirement Fund.
“Under the current ‘accrual’ system, Army, Navy, Marine Corps, and Air Force retirement benefits are paid through the Military Retirement Fund, a fiscally responsible public pension fund managed by actuaries. Every year, the Department of Defense contributes to the fund in anticipation of future retiree costs, protecting retirees and taxpayers alike. Coast Guard retirement benefits, on the other hand, require an annual funding bill, which is not only less efficient but threatens retired Coast Guard servicemembers in the event of a government shutdown. The bill corrects this disparity and treats Coast Guard retirement benefits just like the other branches of the military,” Crist’s office noted.
Crist weighed in on his proposal on Thursday.
“The effects of the 2019 government shutdown were felt across the country, and Coast Guard servicemembers and their families were especially hit hard. Here in Pinellas County, not only did active duty Coasties go without pay, but Coast Guard retirees were days away from missed retirement payments from the government they swore an oath to protect,” said Crist.
“Learning from the mistakes of the past, the Coast Guard Retirement Parity Act rights this wrong. If a shutdown were to happen again, Coast Guard retirees would be protected. This commonsense fix is good for the Coast Guard, good for those who served, and good for taxpayers. A grateful nation should safeguard and protect hard-earned veterans retirement benefits, and that is exactly what this legislation will accomplish,” Crist added.
“Veterans of our United States Coast Guard, just like all U.S. veterans, have dedicated their lives to serving our nation and they should never have to worry about interruptions in their retirement benefits,” said Palazzo. “During the 2019 government shutdown, over 50,000 Coast Guard retirees were facing the unfair reality that their retirement payments were not going to be provided because they’re currently excluded from the DOD retirement fund, and to me that’s completely unacceptable. Our bill addresses this disparity and ensures that these Coast Guard retirees and their families are taken care of and receive the benefits they earned.”
Crist’s bill was sent to the U.S. House Armed Services Committee. So far, there is no counterpart over in the U.S. Senate.
Reach Kevin Derby at email@example.com.