Where's Our C.o.l.a.?

[purple]

I know we gripe on here about why we aren't getting any COLA raise this year or in the future as far as we can tell. So far the VA hasn't been very forthcoming with a good answer, er, excuse.

Soooo....lets ask. All of us, on the same day. We can pick a day and every send an IRIS inquiry asking the question on the same day. Bombard their system. Hey, what can it hurt? Thoughts?

[jbasser]

You guys are correct. The only way we are going to get a COLA is Congress passes special eegislatuion to do so.

It can be done, but the odds are pretty low.

J

[Pete53]

You guys are correct. The only way we are going to get a COLA is Congress passes special eegislatuion to do so.

It can be done, but the odds are pretty low.

J

We are not Banks or Mortgage executives.

[timetowinarace]

I'm fairly confident we will get our COLA in the years to come.

As the gooberment continues to increase cash flow by printing more money, inflation will soon follow at an accelerated rate. Unfortunatly, our COLA will do little to help, even if it keeps pace with inflation.

For our financial health, we are much better off had the economy continue to decline, with declining inflation and no COLA. Our money would be worth more. This is bad for the workforce but good for us. Now, with the printing of extra money we are likely to face a declining economy with INCREASING inflation. This bad for all.

Personally, I would prefer a decrease in inflation and no COLA.

In short, COLA in the next few years will be a big deal. Better save a fight for it untill then. No use wasting alott of energy shadowboxing before the bell rings for the first round.

[Teac]

guys....costs of almost everything is down (gas, groceries, clothes, etc). That's just the way it is. If you don't like it, start contacting your elected federal officials and lobby for a annual "raise." A lot of folks seem to think that is what the COLA is, and it is not. You should be thankful that they don't adjust our disability downward to adjust for the current cost of living indicators.

just my $.02

You must be in Never Never land, because the cost of things are up with the exception of Oil........at least here in Texas things cost more...

[12R3G]

SS COLA formula is fixed by law and tied to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Yes Virginia, there is way more that on "price index".

The CPI-W is measured from the 3rd quarter of one year to the 3rd quarter of the following year. Basically, the difference between the two is the COLA.

The SS formula also determine military retired pay COLA, SSI COLA and--I believe--Federal employee annuity COLA as well. This year, Congress passed, and the President signed a bill tying annual VA compensation and pension rates to the SS COLA formula.

If the difference between the 2 years is zero, there is NO COLA. If the difference is negative--which is what is this year--there is NO COLA, but there is no reduction in benefits either. Some bad news, but some good news there.

Not only can we expect no COLA this year, odds are there will be no COLA next year either under the SS formula. The reason is we are roughly 2% in the hole--CPI-W would have to rise 2% just to get us back to zero.

The problem with any fixed index is that is doesn't necessarily account for your life and situation. For the past few decades, wages have remained stagnant (in real, constant dollars), some prices have gone up...others down. As we age, healthcare consumes an ever larger portion of the average retiree income, partly due to increased need for healthcare and partly because healthcare inflation outpaces CPI-W by a hefty margin.

As someone mentioned earlier, it would take--literally--an act of Congress to approve a "payraise" in lieu of the annual COLA.

[Teac]

Now I for one don't want any stinking COLA. I want the Government to get off their butts and redo the compensation rates for the 21st century. The last time the compensations rates were written was just after WWII. It is way overdue, and one reason the Government gets away with it is because of the little scraps they toss at us each year. COLA is fine for a retirement check, but for compensation, we should be receiving a rate that is in keeping with todays standard of living. COLA, no matter what anyone thinks doesn't do what it is designed to do. Think about it, why everytime (except last year) most of our cola went to increased medicare cost, and we were forced to do with less because the cola didn't cover much else. NOw when I was forced into medical retirement from civil service, as a GS 11,(Computer Network specialist and programer) VA compensation never came close to what I had been earning, that was over ten years ago, and if today I was forced to retire, the compensation rates are the same as they were back in 1999, with the exception of the sorry cola rates. Am I grateful for SSD and VA compensation, hell no, I want to be compensated for my actual loss of earnings, and since I am receiving the same compensation as someone who flipped burgers, and the rates haven't been adjusted in my lifetime, I am not being compensated fully, only the Government gets away with garbage.