Coast Guard Retirement Parity Act

This bill modifies the Department of Defense Military Retirement Fund to pay for U.S. Coast Guard retirement and survivor benefit programs in the same manner as other branches of the military. Currently, Coast Guard retirement and survivor benefit payments come out of the yearly Coast Guard budget as a mandatory appropriation. Such payments are not paid in the event of a government shutdown; however, retirement benefits for other branches of the military are still paid through the Military Retirement Fund.