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The fundamental goal of COLA is to compensate service members for the high cost of living at certain duty stations. COLA rates are based on a service member's pay grade, years of service, and number of dependents. An area is considered high cost if the cost of living for that area exceeds 108% of that national average of non-housing costs.
Basic allowance for subsistence (BAS): BAS is meant to offset costs for a member's meals. This allowance is based in the historic origins of the military in which the military provided room and board (or rations) as part of a member's pay. This allowance is not intended to offset the costs of meals for family members.
The history of the program's COLA is a tale of two halves. Between 1940 and 1975, adjustments were made on an arbitrary basis by special sessions of Congress. ... which gauges the likelihood of a ...
Retirees will receive a paltry increase in their Social Security checks in 2017 - the second consecutive year of flat or near-flat benefits.
Basic Allowance for Housing (BAH) is calculated based on several factors, primarily the location of the military member's duty station, their pay grade, and whether they have dependents. BAH rates are determined annually by the Department of Defense and are intended to cover a portion of the housing costs for military personnel.
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They can also receive funds from public charities for specific issues. The COLAs are made at most annually and are calculated based on the value of the CPI-W in the third quarter of the year (averaging the values from July, August, and September). COLAs can only increase benefits, so in deflationary years when the CPI-W drops there is no COLA. [6]
The COLA increase for everyone, including spouses, will be applied according to the same formula. Retirement at Any Age: Get Retirement Tips That Fit Every Stage of Life Check Out: 6 Things You ...