Once again the gubmint is trying to "fix" it's financial woes on the backs of those who serve the greater good. I'll fight this proposal tooth and nail to the end. Military members have to serve honorably for 20 years to be eligible for their retirement and they do so in far off and oftentimes hostile environments. They have earned their retirement.
Now, if Congress is willing to forgo their retirements (which they are eligible for after a mere 5 years) then we can start to talk, until then, I say this to our elected officials: Keep your fucking hands OFF military retirement.
Military members who complete 20 years of honorable service are eligible for 40% of the average of their last 3 years pay, with a 2.5% increase for each year after 20. So if a person serves 25 years, they are eligible for 52.5% of the average of their final three years of pay. To be eligible for 80%, a member has to serve for 36 years. In comparison, the starting amount for a member of congress' retirement annuity may not exceed 80% of their final pay. Remember, congress is eligible for their retirement after only 5 years; oh yeah, and they are not in harms way.