Retiree Pay Raise
Sunday October 19, 2008
The Dec. 1 cost-of-living adjustment for military and federal civilian retirees, disabled veterans and survivors will be 5.8 percent, with the increase first appearing in Jan. 1 checks.
The COLA is the biggest increase in military retirement pay since 1982, and is significantly larger than the 3.9 percent pay raise Congress recently approved for active duty and reserve componant members. That's because the two annual increases are based on separate factors. Retired pay automatically increases each year to keep pace with inflation, measured by the change in the cost of goods and services. Increases in military are designed to match private-sector wage growth.
The COLA is the biggest increase in military retirement pay since 1982, and is significantly larger than the 3.9 percent pay raise Congress recently approved for active duty and reserve componant members. That's because the two annual increases are based on separate factors. Retired pay automatically increases each year to keep pace with inflation, measured by the change in the cost of goods and services. Increases in military are designed to match private-sector wage growth.
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