Mitch Landrieu: “many bills were introduced in the last Congress that would lower the age at which Reservists can receive retirement…”

“many bills were introduced in the last Congress that would lower the age at which Reservists can receive retirement benefits. Most of these bills were met with resistance from the Department of Defense, due to cost estimates over a 10-year period. It is my hope that his Bill, the Reserve Retirement and Retention Act of 2003, will serve as a compromise measure and deliver retirement benefits to Reservists and Guardsmen at an earlier age. This legislation would lower the retirement age of a Reservist by one year for every 2-year period that he or she serves past the requisite 20 years for retirement. For example, if a Reservist should serve for 22 years, he or she could receive retirement benefits at age 59. This legislation will serve as a critical tool in encouraging the most experienced Reservists and Guardsmen to stay past the 20-year mark. It is my hope that this measure will encourage our Reservists and Guardsmen to stay in their units longer, while making their retirement benefits more generous for them and their families. I ask unanimous consent that the text of this bill be printed in the Record. There being no objection, the bill was ordered to be printed in the Record, as follows: S. 445 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Reservists Retirement and Retention Act of 2003''. SEC. 2.…”