$572B Defense Bill Nixes Pension Cuts For Disabled Vets

Law360, New York (January 14, 2014, 6:34 PM EST) -- The omnibus 2014 appropriations bill unveiled Monday night includes $572 billion in defense spending, and rolls back a reduction in pensions for disabled veterans that were accidentally included in a cost-cutting initiative passed as part of December's budget deal.

The two-year budget would have saved $6 billion over 10 years by reducing the amount that DOD will pay toward the pensions of working-age military retirees by 1 percent. That proposal generated pushback in Congress, especially after it was revealed that the agreement would cut the benefits...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.