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COLA PAYMENT 2008 DFAS 2008 COLA PAYMENTS:
According to Defense Finance
and Accounting Service (DFAS) officials based on the increase in the U.S.
Consumer Price Index, there will be a cost-of-living adjustment increase for
retired pay and Survivor Benefit Plan annuities effective 1 DEC.The
COLA increase will be reflected in the 2 JAN 08 payment.
Retirees being paid on an
account where the retiree first became a member of the uniformed services
before 8 SEP 80 and retired before 1 JUL 07 will receive a full COLA increase
of 2.3%.
The COLA increase for retirees
being paid on an account where the retiree first became a member of the uniformed
services on or after 8 SEP 80 will be as follows:
-- 2.3% for those retiring
before Jan. 1, 2007
-- 2.3% for those retiring
in the first quarter calendar 2007
-- 2.3% for those retiring
in the second quarter calendar 2007
-- 0.2% for those retiring
in the third quarter calendar 2007
-- No increase for those retiring
in the fourth quarter calendar 2007
Retirees being paid on an
account where the retiree first became a member of the uniformed services
on or after 1 AUG 86 and retired on or before 1 JAN 07 but elected to receive
a Career Status Bonus at 15 years of active service, will receive a COLA increase
of 1.3%. Retirees being paid on an account where the retiree first became
a member of the uniformed services on or after 1 AUG 86, retired on or after
1 JAN 07, and elected to receive a Career Status Bonus at 15 years of active
service will receive COLA as follows:
-- 1.3% for those retiring
before 1 JAN 07
-- 1.3% for those retiring
in the first quarter calendar 2007
-- 1.3% for those retiring
in the second quarter calendar 2007
-- No increase for those retiring
in the third or fourth quarter calendar 2007
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