Members of the Senate Armed Services Committee's Personnel Subcommittee, voted to include a troop pay raise of 1.3 percent rather than 2.3 percent for fiscal 2016. The Defense Department proposed the lower figure, which compares to a 1-percent bump in basic pay service members received the past two years. But it's less than the 2.3 percent estimated increase in private-sector wage growth, which military pay is supposed to track by law. They also voted to support legislation that would offer troops a 401(k)-style retirement plan by 2017 with matching contributions and full vesting after two years.
Senate Panel Backs Pay Raise & Retirement Changes
