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Cost
of Living Adjustments for 2007 Based on the increase in the Consumer Price Index, there will be a
cost of living increase for retired pay and for SBP annuities effective
December 1, 2006. Retirees and annuitants being paid on an account where the retiree
first became a member of the uniformed services before September 8, 1980 and
retired prior to January 1, 2006 will receive a full COLA increase of 3.3
percent. Retirees and annuitants being paid on an account where the retiree
first became a member of the military before September 8, 1980 and retired on
or after January 1, 2006 will receive a partial COLA increase of 2.8 percent. The COLA increase for retirees being paid on an account where the
retiree first became a member of a uniformed service on or after September 8,
1980 will be as follows: ·
3.3%
for those retiring before January 1, 2006 ·
2.8%
for those retiring in the 1st quarter, CY 2006 ·
2.4%
for those retiring in the 2nd quarter, CY 2006 ·
0.6%
for those retiring in the 3rd quarter, CY 2006 ·
0.0%
for those retiring in the 4th quarter, CY 2006 Retirees and annuitants being paid on an account where the retiree
first became a member of the military on or after August 1, 1986 and retired
prior to January 1, 2006 and elected to receive a Career Status Bonus at 15
years of active service will receive a COLA increase of 2.3 percent. Retirees and annuitants being paid on an account where the retiree
first became a member of a uniformed service on or after August 1, 1986,
retired on or after January 1, 2006, and elected to receive a Career Status
Bonus at 15 years of active service will receive a partial COLA as follows: ·
2.3%
for those retiring before January 1, 2006 ·
2.0%
for those retiring in the 1st quarter, CY 2006 ·
1.9%
for those retiring in the 2nd quarter, CY 2006 ·
0.3%
for those retiring in the 3rd quarter, CY 2006 ·
0.0%
for those retiring in the 4th quarter, CY 2006 The COLA increase will be reflected in the January 2, 2007
payment. |
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