SENATOR COLLINS SUPPORT LOWERING RETIREMENT AGE FOR RESERVE AND NATIONAL GUARD TROOPS

Washington, D.C. - Senator Collins today cast her vote in support of legislation to lover the age at which Reservists and National Guard members could retire, from age 60 to 65. While the amendment was not approved, Senator Collins said that she would continue to work to ensure that Reservists and Guard members have the option to retire at an earlier age.

Specifically, Senator Collins is a cosponsor of a similar bill introduced by Senator Zell Miller of Georgia that would allow Reservists and Guard members to retire at age 55, but also rewards members who remain in the service until age 60.

"Reservists and Guard members do double duty, working in their regular jobs and also giving up a significant portion of their lives to protect our country. We have seen recently how much of a demand this can be," said Senator Collins. "It is important that we acknowledge the unique sacrifice that reservists and guard members make and reward those who put in decades of service to our nation."

The Guard and Reserve Retirement Retainer Act of 2004, introduced by Senator Miller and cosponsored by Senator Collins, creates a retirement pay scale for members who retire between age 55 and 60 that both allows them to retire early, yet rewards them for remaining in the service. The amount of retirement pay would be reduced by: (1) 12.5 percent, for retirement at age 55; (2) 9 percent, for age 56; (3) 6 percent, for age 57; (4) 3.5 percent, for age 58; and (5) 1.5 percent, for age 59.

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