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Retirees Will Get 1.7 Percent COLA 2013 | Business

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Retirees Will Get 1.7 Percent COLA 2013
Retirees Will Get 1.7 Percent COLA 2013

Air Force Times--Military retirees can expect a 1.7 percent cost-of-living adjustment effective Dec. 1, with the extra money first showing up in January checks.

The same percentage increase will apply to Social Security, federal civilian retired pay and other government entitlements linked to the Consumer Price Index.

The increase is not as high as last year’s 3.6 percent COLA, but that came after two years of no annual adjustments.

COLA increases are calculated by comparing average changes in consumer prices over three months — July, August and September — to the same three months of the previous year.

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