New COLA Increases Announced

Week of November 10, 2008

Based on the increase in the U.S. Consumer Price Index, there will be a cost-of-living adjustment increase for retired pay and Survivor Benefit Plan annuities effective Dec. 1, 2008. Retirees being paid on an account where the retiree first became a member of the uniformed services before Sept. 8, 1980 and retired before Jan. 1, 2008 will receive the full COLA increase of 5.8 percent. Retirees being paid on an account where the retiree first became a member of the uniformed services before Sept. 8, 1980 and retired Jan. 1 to Dec. 31, 2008 will receive a COLA increase of up to 5 percent. For more information, contact the Defense Finance and Accounting Service (DFAS) at (800) 321-1080, or visit the DFAS website.