Re(2): cola IP: 72.40.124.86 Posted on November 13, 2008 at 00:25:13 AM by Jeffrey L Smith
"The Bureau of Labor Statistics announced that the official 2009 Cost of Living Adjustment (COLA) increase is 5.8 percent, payable in January, and is applicable to military retired pay, VA benefits for disabled veterans, survivor annuities, and Social Security benefits for next year. This is the largest increase since 1982 and is significantly larger than last year’s 2.3-percent increase."
"The Consumer Price Index (CPI) is used to calculate this annual COLA and is based on the cost of a “basket of goods” for the average American during the period from October 1st to September 30th of each year. Components in the “basket” include gasoline, electricity, food, housing, transportation, and medical care. When the CPI and associated COLA rates go up, it is an indication that consumers have been paying more for the same amount of goods and services." As quoted in the "FRA."
If I am not mistaking isn't our cola based on the Consumer Price Index? I do not know if the calculation is the same one used by the U.S. Government but it is something we should check out. It would not hurt to get the formula used from the pension board and do the math for ourselves. I do not trust the pension board to ever do the right thing when it comes to retirees. The 3.15 multiplier and the 2004 13th check are proof of that. Never assume they have our backs covered.
Replies:
Re(3): cola - By J J OlivaNovember 13, 2008 at 02:52:43 AM Re(4): cola - By arturo pedreroNovember 13, 2008 at 01:36:53 PM Re(5): cola - By J J OlivaNovember 13, 2008 at 10:54:13 PM Re(6): cola - By arturo pedreroNovember 14, 2008 at 01:18:54 PM Re(7): cola - By royhallNovember 17, 2008 at 08:44:21 PM Re(8): cola - By LARRY VINCENTNovember 25, 2008 at 01:06:55 AM
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