Retired and Annuitant Pay Cost of Living Adjustments for 2008
Based on the increase in the Consumer Price Index, there will be a cost of living adjustment (COLA) increase for retired pay and Survivor Benefit Plan (SBP) annuities effective December 1, 2007.
Retirees being paid on an account where the retiree first became a member of the uniformed services before September 8, 1980 and retired prior to July 1, 2007 will receive a full COLA increase of 2.3 percent.
The COLA increase for retirees being paid on an account where the retiree first became a member of the uniformed services on or after September 8, 1980 will be as follows:
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2.3 percent for those retiring before January 1, 2007
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2.3 percent for those retiring in the 1st quarter CY 2007
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2.3 percent for those retiring in the 2nd quarter CY 2007
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0.2 percent for those retiring in the 3rd quarter CY 2007
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0.0 percent for those retiring in the 4th quarter CY 2007
Retirees being paid on an account where the retiree first became a member of the uniformed services on or after August 1, 1986 and retired on or prior to January 1, 2007 but elected to receive a Career Status Bonus at 15 years of active service, will receive a COLA increase of 1.3 percent.
Retirees being paid on an account where the retiree first became a member of the uniformed services on or after August 1, 1986, retired on or after January 1, 2007, and elected to receive a Career Status Bonus at 15 years of active service will receive COLA as follows:
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1.3 percent for those retiring before January 1, 2007
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1.3 percent for those retiring in the 1st quarter CY 2007
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1.3 percent for those retiring in the 2nd quarter CY 2007
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0.0 percent for those retiring in the 3rd or 4th quarter CY 2007
The COLA increase will be reflected in the January 2, 2008 payment.
