|
2009 COLA ANNOUNCED
5.8% INCREASE for Military and Federal Civilian Retirees, Disabled Veterans and Survivors, and Social Security Recipients.
The December 1, 2008 Cost-of-Living Adjustment (COLA) will represent a 5.8 percent increase and be payable in January 2009. This increase represents the largest COLA provided since 1982.
Veterans were concerned when Congress sent to the President the 2009 COLA proposal in September 2008 which had a placeholder marker for the COLA rate arbitrarily set at 2.3 percent increase knowing the Public Law would be corrected at a later date when the rate was formerly set. The COLA rate was formally set at 5.8 percent today.
The COLA Rate for the above groups will be significantly higher than the 3.9 percent authorized for the Military Pay Raise signed into Law this week by the President. The two increases are based on different formulas.
Click here for more information.
|