2021 COLA: 1.3%

[broncovet]

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 October 16, 2020 by broncovet

[brokensoldier244th]

How about 4 dependents SMC s and SMC k? Does the rate apply too the whole or does each category go up 1.5?

[brokensoldier244th]

I dunt math well, concussion. Car accident on Sunday, side impact into me at 30+. She ran a yield

[Carl the Engineer]

Just got the notice from Social Security.  1.3

Social Security benefits and Supplemental Security Income (SSI) payments for approximately 70 million Americans will increase 1.3 percent in 2021, the Social Security Administration announced today.

 

VA usually play along.

Hamslice

 

 

Edited October 13, 2020 by Hamslice
cause I can

[deedub75]

It's 1.3%

1 hour ago, brokensoldier244th said:

How about 4 dependents SMC s and SMC k? Does the rate apply too the whole or does each category go up 1.5?

It's actually gonna be 1.3% according to the SSA website. And yes, it would be an across the board increase on dependents and SMC.  

[Buck52]

We'll whatever we get is better than nothing . 

Thanks to broncovet for posting this.

 

[broncovet]

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:  broken soldier would  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.  

 

 

Edited October 16, 2020 by broncovet