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2021 COLA: 1.3%

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broncovet

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According to the BLS website:

https://www.bls.gov/news.release/cpi.htm

Scroll down (for the CPI-W):

Quote



The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) 
 increased 1.5 percent over the last 12 months to an index level of 254.004 
 (1982-84=100). For the month, the index rose 0.2 percent prior to seasonal 
 adjustment.  

While I am quoting from the BLS website, regard this as an estimate only, the official one will follow.  Therefore, my estimate is between 1.4% and 1.6%, with 1.5 percent the most likely Cola. 

For a SINGLE 100 percent Veteran, no dependents, this amounts to a raise of $46.59 per month increase to $3152.63 .  

Social Security recipients will also be the same:  1.5%, but, as was pointed out, our medicare premiums will go up, so we will see "less" increase in our social security checks, probably. 

Edited by broncovet
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20 hours ago, broncovet said:

Yes, broken Soldier, it should apply to everything. 

Simple way to know your new pay:

 

Take your old pay (lets assume its correct, but I have no idea), and multiply it times

1.013

Poof, you should get your new pay rate.

Its a shortcut to multiplying times 1.3 percent, then add that number to the old rate. 

While either of these methods work, the shortcut is faster.

OR:  Currently I get:

SMC S (married) 3649.83

SMC K                    110.31

Each child                 86.05 times 3 kids equals 258.15

Total before raise:   3928.29

After 1.3% cola        $3979.35  (could be a few pennies off due to rounding).  

I agree, so I must stand corrected.  Apparently Social Security says 1.3 percent even tho BLS (bureau of Labor Statistics, from who derives CPI-W) says 1.5 %.  I really dont understand this discrepency.  

 

 

broncovet, you still claim your 3 kids? I thought they were grown left home?

if we can still claim our kids I got two  big ole ornery boys.....but they both work pay their own taxes.

 For me and my spouse my only dependent, I think the last time I looked on my base compensation pay including the SMC S AND SMC k

it was around 3700  ok times that amount  at 1.013 I get 48.1 raise   which would be  around 3748..010 

I get SS Retirement too  but its not much around a 1000. month less medicare payment. of about - 125.00 month  or close to that.. so around 875...  

Edited by Buck52
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  • HadIt.com Elder

OH  I SEE  Okay  🙂

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1 hour ago, broncovet said:

Yes, Tbird, Social Security says 1.3 percent yet the BLS says 1.5.  I cant explain that discrepency.  Better go with 1.3.  

I can explain it.  That's the lowest number they could find in a quick scan of the report.  Luckily, we weren't on page 1.1, or that would be our raise..

Hamslice

 

 

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