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The fundamental goal of COLA is to compensate service members for the high cost of living at certain duty stations. COLA rates are based on a service member's pay grade, years of service, and number of dependents. An area is considered high cost if the cost of living for that area exceeds 108% of that national average of non-housing costs.
The group’s latest COLA estimate is well below earlier estimates this year — estimates that projected a Social Security increase as high as 10.5% in 2023. However, even an increase of 8.7% ...
37 USC 1009 provides a permanent formula for an automatic annual military pay raise that indexes the raise to the annual increase in the Employment Cost Index (ECI). The fiscal year 2010 president's budget request for a 2.9% military pay raise was consistent with this formula.
A bump to the cost of living allowance (COLA) -- to 8.7% for 2023 -- has resulted in a surge in senior spending compared to other generational groups. But is helping to maintain seniors' standard ...
The 5.9% increase for 2022 was announced in October 2021, when inflation was lower than levels seen so far in seen in 2022. The CPI-W has increased by 9.8% in the past year.
Learn about the historical and current salaries of senators and representatives in the US Congress, as well as the cost of living adjustments and the Twenty-seventh Amendment. See a chart of salaries from 1789 to 2023, with inflation-adjusted amounts.
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