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COLA..we could find out tommorrow (Oct. 13, 2020)

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broncovet

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For those interested in (maybe) a compensation increase, we could find out as soon as  tommorrow, at 8:30 AM, when the Department of Labor releases the September numbers.  

Right now we are looking at an increase of 1.4%, but that could increase, decrease, or stay the same, depending upon the numbers (CPI-W) tommorrow.  

I will try to stay on top of it and post the numbers when I get them.  It may be helpful for some, to know if/how much of a Cola we can expect for year 2021, which begins Dec. 1, 2020.  (Social Security and Veterans benefits are paid "in arrears", which means that a pay raise effective Dec. 1, 2020 wont be reflected in our check until Jan.1, 2021.  

Source: 

https://www.moaa.org/content/take-action/cola-watch/

And:

https://www.bls.gov/schedule/news_release/cpi.htm

 

Edited by broncovet
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  • HadIt.com Elder

Ms Tbird I believe that source is talking about the increase that we had coming for 2020, this year that is.

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  • HadIt.com Elder
3 hours ago, Tbird said:

Social Security and Supplemental Security Income (SSI) benefits for nearly 69 million Americans will increase 1.6 percent in 2020. source: https://www.ssa.gov/cola/

Yeah this is last years cola 2020 , so we all know its going to be less this year at 1.3% for 2021

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  • HadIt.com Elder

Just saw that CNBC said the new COLA is 1.3% for Social Security, which is the same as what the VA pays out for disability comp. As I said before, it's better than a stick in the eye!

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