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Good morning, everybody. The Committee Meets this morning to review the reduction in cost of living adjustments, the colas, for working age military retirees that was enacted as part of the bipartisan budget act of 2013. We welcome today the acting deputy secretary of defense, ms. Christine fox, and vice chairman of the joint chiefs of staff, admiral sandy winnefeld. And i will introduce the second panel of outside witnesses after we hear from secretary fox and admiral winnefeld. The bipartisan budget act adopted in december included a provision that reduced the cola for working age military retirees by 1 until a retiree reaches the age of 62 at which time retired pay is adjusted to the level it would have been had the cola not been reduced. In a usa today column defending the legislation, congressman ryan explained the provision as follows heres what the new law will do, we make no changes for those currently at or above age 62. This reform affects only younger military retirees. Righ

Republic ofUnited statesNorth carolinaIsrael generalCapitol hillDistrict of columbiaWest virginiaPryor hagenSandy winnefeldChristine foxRay odiernoCommittee meetsSecond panelUsa todayPension systemCommission review