Military retirees and those who receive disability checks and some other types of pay from the Department of Veterans Affairs will see a 2 percent pay raise in their monthly paychecks in 2018.
It is the biggest cost of living (COLA) increase since 2012, equaling as much as $310 a month for those at the top of the retirement pay charts.
Many Monthly Benefits Going Up
Thanks to the increase, the average military retirement check for an E-7 with 20 years of service will go up by $46 a month, while an O-5 with the same time in uniform will see an $88 monthly increase.
Disabled veterans will also see a bump, with the average VA disability checkgoing up about $3 per month for those with a 10 percent rating, and $58 for those rated at 100 percent.
Other users, including Survivor Benefit Plan beneficiaries and those who draw Dependency and Indemnity Compensation (DIC), can also expect to benefit from the bump.
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
6 comments:
wow, about 20 bucks.
All COLA increases seem to be sucked away every cycle by an increase in deductions for health and dental care.
Just like when in the military, they give you a hundred dollars and take back 99
Got that right 2:47.
Thanks Donald, I can use the extra $$. Buying a tank of gas and not feeling the crunch as hard as before is a good thing!
Yep...Soc. Sec. increase this year will be 2%. Haven't had raises that really amount to anything for Many years. This year the Medicare increase will more that eat up our 2%. BAM!!!
Post a Comment