February 2024 COLA Update

By: Kevin Lilley 

"After three years of above-average increases in military retirement pay and Social Security benefits, falling inflation figures point to a 2025 cost-of-living adjustment (COLA) far below what recipients may have come to expect.

This year’s 3.2% COLA hike was well below the last two annual increases of 8.7% and 5.9%, respectively. But aside from those years, it still ranks as the highest in more than a decade, and well above a 20-year average that sits slightly north of 2.6%.

But early projections put the 2025 COLA well short of this year’s adjustment – a 1.4% estimate would be the lowest since the 1.3% increase from 2021."

See atached PDF for complete article.