Retirees Will See 2 Percent COLA Increase for 2018

"...Millions of Social Security recipients and other retirees will get a 2 percent increase in benefits next year.

It's the largest increase since 2012 but comes to only $25 a month for the average beneficiary.

The Social Security Administration announced the cost-of-living increase Friday.

The COLA affects benefits for more than 70 million U.S. residents, including Social Security recipients, disabled veterans and federal retirees.

That's about one in five Americans...."

Read more at stripes.com

COLA May See 2018 Increase from Hurricanes

"...You should see a larger retired or VA disability increase than last year thanks to the all the hurricanes. But what do hurricanes have to do with COLA? Here’s the connection.

Most government payments see a Cost of Living Allowance (COLA) every year. The COLA makes sure that your payments keep up with inflation. These payments include:

• Military retirement
• Civil service retirement
• Social security
• VA disability compensation

The COLA is based on another government measurement, the Consumer Price Index (CPI)...

The experts are saying that this year’s COLA may be much better than previous years. As of August, the CPI was 1.9 percent higher than last year. The effects of Hurricanes Harvey and Irma driving up gasoline and food prices may further drive up the CPI..."

Read more in The Military Advantage Blog