12 Aug '13, 9pm

Budget office releases estimate for 2014 COLA: The cost-of-living adjustment in government benefits ... #airforce

The cost-of-living adjustment in government benefits for next year is likely to be 1.5 percent, according to an August 8 estimate from the Congressional Budget Office. This would be smaller than the 1.7 percent COLA received this year. The COLA becomes effective Dec. 1 and first shows up in January paychecks. The nonpartisan budget office’s prediction comes in a cost estimate for S 893, a veterans’ COLA measure that applies to veterans’ disability, survivors’ and pension payments. The Senate Veterans’ Affairs Committee approved the bill on July 24. Under federal law, annual COLAs are automatic for military and federal civilian retirees and Social Security beneficiaries, with the increase linked to the Consumer Price Index, a measure of the cost of goods and services. Veterans’ benefits, however, increase only if Congress approves. The Senate bill provides veterans the same...

Full article: http://www.airforcetimes.com/article/20130812/BENEFITS/30...

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