Military Balance 2009
military retirement pay and inflation?
Every year congress approves pay raises for the military (usually around 3.5%) to stay in balance with inflation. Does retirement pay stay on par with this? For example, if i was to retire tomorrow after serving 20 years active duty and retire as an E-8, would my 50% retirement pay entitlement stay on par with the CURRENT year’s base pay of an E-8 with 20 years in? Like when 2009 or 2010 rolled around, would i still be receiving 50% base pay for that current year’s income of an E-8 with 20 years in? Or does it get stuck, and that 50% pay is based off the year you retired in and doesn’t increase with inflation?
you can receive COLA with retirement pay? that’s something i didn’t know
** This is the “pay raise” for retired military – it’s a COLA.
The amount depends on when the service member retired.
The Cost-of-Living Adjustment or COLA is a pay adjustment provided to military retirees and annuitants that helps maintain purchasing power. The adjustment is based on a 12 months average increase in the cost of a market basket of non-discretionary Goods and Services, as measured by the Consumer Price Index for Urban Wage and Clerical Workers.
COLAs for Retired Pay
The retired pay COLA for those who first became a member of a Uniformed Service before September 8, 1980, is specified according to the effective date of the active duty basic pay rate used to compute their retired pay as follows: Retired Pay Based on the following:
Rate of Pay Effective Percent Increase
Before January 1, 2007 2.3 percent
January 1 – March 31, 2007 2.3 percent
April 1, 2007 2.3 percent
The retired pay COLA for those who first became a member of a Uniformed Service on or after September 8, 1980, is specified according to the effective date of their retirement as follows:
Before January 1, 2007 2.3 percent
January 1 – March 31, 2007 2.3 percent
April 1 – June 30, 2007 2.3 percent
July 1 – September 30, 2007 .2 percent
October 1 – December 31, 2007 0.0 percent
The retired pay COLA for those who first became a member of a Uniformed Service on or after August 1, 1986, who elected to receive a career status bonus under the provisions of section 322 of title 37 United States Code is specified according to the date of their retirement as follows:
Before January 1, 2007 1.3 percent
Jauary 1 – March 31, 2007 1.3 percent
April 1 – June 30, 2007 1.3 percent
July 1 – September 30, 2007 0.0 percent
October 1 – Decenber 31, 2007 0.0 percent
** This is the “pay raise” for retired military – it’s a COLA.
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