Military retirees and
individuals receiving veterans’ benefits will see only a 0.3 percent
cost-of-living increase in their federal benefits next year, a nominal
increase matching 2016’s hike.
On Tuesday, officials from the
Social Security Administration announced the small raise, the third
consecutive year the benefits adjustment will be under 0.5 percent.
Since 2009, the cost-of-living hike has been more than 2 percent only
once, when it reached 3.6 percent in 2011.
are not automatically tied to the Social Security increase, but in July
lawmakers passed legislation linking the two benefits for 2017. In the
last few decades, veterans have seen their annual adjustment differ from
the Social Security COLA only one time, and then only due to minor
The Social Security COLA is calculated by
the Bureau of Labor Statistics’ periodic Consumer Price Index, a
statistical estimate of the anticipated price of a variety household
goods and services.
This year, officials are estimating only
small increases in those costs, identical to the rise seen in expenses
heading into 2016.
The Social Security, military retiree and
veterans’ benefits changes affect more than 70 million Americans, about
22 percent of the country’s population.