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Oct 12, 2023 · Military retirees and disabled veterans will see their monthly checks increase by 3.2% for 2024, thanks to the annual Cost of Living Adjustment (COLA) due to inflation.
This is to preclude the advantage of receiving a retirement based on both a new pay raise and full COLA in the first year of retirement. The amount of this first "partial COLA" is calculated differently for the Final Pay and High-36 retirement plans. The partial COLA for REDUX plan retirees is based on the High-36, with a further prorated ...
Nov 12, 2020 · Most military retirees will receive a 1.3 percent increase to their retired pay beginning with the pay they receive on December 31, 2020.
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Will military retirees receive a pay increase in 2022?
Will military retirees receive a cost of living adjustment in 2021?
Will a military retiree's monthly check increase in 2024?
Will military retirees and survivors benefit from a cost of living adjustment?
Most military retirees will receive a 5.9 percent increase to their retired pay beginning with the pay they receive on January 1, 2022, which is the largest such increase since 1982.
With the COLA applied, the maximum amount of SSIA payable will be $346. Retirees will see the change in their Dec. 30, 2021 payment. Annuitants will see the change in their Jan. 3, 2022 payment. For details, see the Fiscal Year 2022 COLA Memorandum: https://militarypay.defense.gov/Pay/Retirement/cola/ Page updated: Dec 15, 2021.
