Days before the deadline, Congress has hashed out a defense spending bill for the fiscal year of 2016. The bill would allot $612 billion to the Department of Defense for the next year, and military members would receive a maximum 1.3 percent pay increase. The bill also grants military bases more leeway in allowing firearms on the base.

The main caveats of this budget agreement is that the military retirement system would be torn down and rebuilt from scratch. Here’s a summary of how military retirement benefits may change, from the Military Times.

The military retirement overhaul would replace the current 20-year, all-or-nothing retirement with a “blended” compensation system featuring a 401(k)-style investment plan that promises all future troops will leave the service with some money for retirement, even if they don’t serve 20 years.

Military advocates praised that reform as a boost for the 83 percent of troops who leave service with no retirement benefits. But they had hoped for a larger pay raise than the 1.3 percent backed by Pentagon officials, arguing that figure fails to keep up with the rate of growth in private-sector wages.

The bill has not been signed into law, and there’s no telling exactly when it will go into effect. In past years, it has taken until December for a military budget resolution to reach the president’s desk. While President Obama has threatened to veto the military budget every year, he had yet to do so.