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DoD Announces Pay and COLA Increases for 2015

The Department of Defense has announced the 2015 military pay and compensation rates for service members with most personnel receiving a 1 percent increase in basic pay. Basic pay for service members will increase one percent, except for general and flag officers who will not see an increase in 2015. Basic allowance for housing (BAH) rates for service members in 2015 will increase on average $17 per month, or half a percent. The 2015 basic allowance for subsistence rates for military members will increase by 2.9 percent over...

House Passes 2013 COLA for Veterans

The House has passed H.R. 4114, the Veterans' Compensation Cost-of-Living Adjustment Act of 2012. If it is signed into law by also passing the Senate vote, H.R. 4114 will increase the annual cost-of-living rate for veterans beginning on December 1, 2012. This year's estimated COLA increase will be approximately 1.9 percent. For many, passage of the COLA each year is merely a formality. But it has typically been pushed to the end of the year, and after there were a few last-minute votes in 2011 for military pay, it is a relief...

COLA benefits in 2012

Life in the military means you may find yourself living in some pricey areas of the country. But unlike civilian employers, who usually adjust compensation levels to reflect the local cost-of-living, the military pay table is set and does not change based on location. Thankfully, military service members may be eligible for a Cost-of-Living Allowance (COLA) which is designed to help offset the effects of higher cost areas in the continental United States (CONUS). In 2012, service members are receiving a higher COLA in most...

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