How much is a military pension?
Air Force retirees are getting hit with a hefty pay cut in 2018, according to a calculator from the Defense Department.
The retirement pay for the Air Force was $1.9 million last year, which is $1,890 a month less than it was in 2020.
The pension is also less than what it was five years ago, and it’s also not what it used to be.
It’s only $1 million less than its level in 2020, when it was $2.9 billion.
That’s because the Air Forces is now cutting back on benefits, including a $25,000 monthly payment.
The savings comes after President Donald Trump signed a $500 billion budget bill in May.
The military has also been cutting back in a bid to meet Trump’s budget request, but the military still faces a budget deficit.