Military Retirees to Get 1.7 percent COLA for 2015

"...Federal and military retirees will receive a 1.7 percent cost-of-living adjustment (COLA) starting in January, according to figures released Oct. 22 by the Bureau of Labor Statistics.

The COLA will also apply to tens of millions of recipients of Social Security and veterans benefits. The increase was 1.5 percent in 2014 and 1.7 percent in 2013.

The planned increase, based on Consumer Price Index data, takes into account the average changes in..."

Read more at Federal Times

COLA Estimated to be Around 1.8 Percent Now

"...Federal and military retirees might have noticed a slight dip in 2015 cost-of-living adjustment calculations, based on the latest data from the Labor Department.

The exact cost-of-living adjustment for next year won’t be known until October when all the numbers are in, but plugging into the formula the latest available data results in a 1.8 percent increase, down a bit from the 1.9 percent estimate based on June statistics. The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) fell 0.1 percent in July, after increasing in May and June. The CPI-W measures price changes in food, housing, gas and other goods and services; the annual COLA for retirees is based on CPI-W data...."

Read more at GovExec.com

COLAs Could be Reduced for Some Retirees

"...A bipartisan budget deal to avoid another government shutdown and reduce the impact of sequestration over the next two years includes thorns for working-age retirees.

In a move expected to save $6 billion, the Bipartisan Budget Act announced Tuesday by Sen. Patty Murray, D-Wash., and Rep. Paul Ryan, R-Wis., calls for reducing annual cost-of-living adjustments for military retirees under the age of 62.

Working-age military retirees would receive an annual pay adjustment that is 1 percentage point less than the rise in consumer prices. For example, the 1.7 percent COLA that took effect on Dec. 1 and will first appear in January checks would be just 0.7 percent for military retirees under age 62 but still be 1.7 percent for older retirees if the proposal were now in effect..."

Read more at Marine Corps Times