MEDAL OF HONOR RECIPIENTS COULD RECEIVE $100,000 PER YEAR
Earning the highest award for valor in the military is no easy feat and often comes during harrowing situations where the ultimate sacrifice is either near or given while serving. There are several Medal of Honor recipients who live on. Now, Senator Ted Cruz of Texas wants to increase the pension these heroes receive through the MEDAL Act. Though it still has a considerable way to go before becoming law, if it does pass, Medal of Honor pensions will increase to $100,000 per year.
Do Medal of Honor Recipients Get a Pension?
Medal of Honor recipients receive a monthly pension. As of 2024, it’s a total of $1,489.37 for those who qualify. This figure began on December 1, 2021, and is only part of the benefits qualifying individuals receive, in addition to access to Presidential inauguration activities. If you’re a Medal of Honor recipient, and have at least 20 years of service, you can also receive a 10% increase in your retired pay. The Medal of Honor pension was started by Congress in 1916, at $10 per month for life. It has increased over the years due to the cost-of-living increases. Pensions for Medal of Honor recipients are also tax-free and available for most surviving spouses.
The MEDAL Act Increases the Pension to $100,000 per Year
A new bill known as the Monetary Enhancement for Distinguished Active Legends (MEDAL) Act was introduced to the Senate proposing a significant increase in the pension for Medal of Honor recipients to $8,333.33 per month. Effectively, the legislation spearheaded by Senator Ted Cruz would mean an annual pension of just under $100,000 per year for those who qualify. The bill is a testament to the debt we all owe this nation’s heroes while also falling in line with similar proposals by the U.S. House of Representatives in 2023, led by Reps. Chris Pappas and Troy Nehls. Some experts point to the fact that the House version gained no real support and Sen. Cruz could be using such a proposal as fuel for his ongoing reelection campaign. Still, if the MEDAL Act were to gain traction, the increase would be a major boost to qualifying military families, while still including automatic cost-of-living adjustments. It’s worth noting that surviving spouses would not receive the same amount of compensation but rather $1,489.73 per month.
How Many Medal of Honor Recipients Are There Today?
Currently, there are at least 61 Medal of Honor recipients living today, out of the 3,538 medals awarded in history. Therefore, if the pension were to increase to $100,000 per Veteran, it wouldn’t be an unfeasible venture to take on. Over time, the costs may rise or lower depending on many factors but with a national defense budget alone being closer to $1 trillion than ever before, the $6 million+ yearly expense feels like an affordable one. How much becomes of the MEDAL Act remains to be seen. However, it’s an interesting development for Medal of Honor recipients to keep up with as the increase could provide helpful funds during difficult economic times. Sources: Honors for Valor, DoD. Accessed September 2024. https://www.defense.gov/Multimedia/Experience/honors-for-valor/ Sen. Cruz Introduces Legislation to Increase Pensions for Medal of Honor Veterans, Senator Ted Cruz. Accessed September 2024. https://www.cruz.senate.gov/newsroom/press-releases/sen-cruz-introduces-legislation-to-increase-pensions-for-medal-of-honor-veterans The Medal, National Medal of Honor Museum. Accessed September 2024. https://mohmuseum.org/the-medal/Suggested reads: