Some "High-3" retirees receive less retirement pay than earned

06/14/2013 | Stars and Stripes

About 55,000 retirees are getting less retirement pay than mandated by law because of the way the Defense Finance and Accounting Service calculates benefits, an audit of the Military Retirement Fund has found. The discrepancy is a result of DFAS failing to apply a pay-protection tool known as the Tower amendment when calculating pay for some retirees who fall under the "High 3" retirement-pay formula.

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