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.
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wow, about 20 bucks.
ReplyDeleteAll COLA increases seem to be sucked away every cycle by an increase in deductions for health and dental care.
ReplyDeleteGot that right 2:47.
DeleteJust like when in the military, they give you a hundred dollars and take back 99
ReplyDeleteThanks Donald, I can use the extra $$. Buying a tank of gas and not feeling the crunch as hard as before is a good thing!
ReplyDeleteYep...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!!!
ReplyDelete