Veterans are Getting a COLA for Veterans Day

View this article online at https://www.fedsmith.com/2017/11/11/veterans-getting-cola-veterans-day/ and visit FedSmith.com to sign up for free news updates
By on November 11, 2017 in Pay & Benefits with 0 Comments

Young military family sitting on the couch at their home

Legislation recently signed into law will give veterans a cost of living adjustment for several forms of their compensation.

The Veterans’ Compensation COLA Act of 2017 (H.R. 1329) was introduced in March by Congressman Mike Bost (R-IL). It was signed into law by President Trump on November 2.

The new law gives veterans a COLA for the following forms of compensation:

  • Wartime disability compensation
  • Compensation for dependents
  • Clothing allowance
  • Dependency and indemnity compensation to surviving spouses
  • Dependency and indemnity compensation to children paid to wounded warriors and their families for injuries they suffered while serving

The COLA will be based on the same computation methodology as what is used for Social Security. That computation is done using the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).

The new COLA will take effect December 1, 2017 for the benefits categories listed above that are in effect on November 30, 2017.

© 2017 Ian Smith. All rights reserved. This article may not be reproduced without express written consent from Ian Smith.

Tags:

About the Author

Ian Smith is one of the co-founders of FedSmith.com. He enjoys writing about current topics that affect the federal workforce.

Post a Reply

Your email address will not be published. Required fields are marked *

Top