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From Chuck Weber, your Veteran Service Officer...
Vet COLA 2021

Will be Same Boost as Social Security Beneficiaries


Veterans receiving government benefits will see a cost-of-living boost in 2021, if Social Security officials approve one for their recipients later this year. On 24 SEP, the Senate unanimously passed legislation to link the two federal payouts, sending it to the White House to become law. President Donald Trump is expected to sign the measure in the next few days. The bill is not controversial, and routinely passes Congress each year without opposition. But, under current law, lawmakers must approve linking the two increases in order for veterans to see the pay boost. Efforts to permanently tie the two sets of increases have made little progress in recent years.


Social Security officials are expected in coming weeks to announce the size of the annual cost-of-living adjustment, if there is one. Last year, the figure was 1.6 percent. Two years ago, it was 2.8 percent. Veterans benefits covered include disability compensation, compensation for dependents, clothing allowances, and dependency and indemnity compensation checks.  If there is a COLA increase to benefits checks, it will go into effect starting this December. 


Source:  MilitaryTimes | Leo Shane III | September 24, 2020

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