Another year, and that means more annual Cost of Living Adjustments (COLAs) for military across the board – active duty, reservists, military retirement, and VA disability.
Active Duty & Reservist Military Pay Increases
The military received a nice 3% pay increase for 2021 – see the 2021 military pay chart.
Military Retirement COLA
Military retirement also received a raise, effective December 1, 2020. Per a prior announcement from the feds, military retirees received a 1.3% Cost of Living Adjustment for 2021. This is less than the 1.6% military retirement COLA awarded to retirees for 2020, but it should result in the same purchasing power – Pursuant to 10 U.S. Code § 1401a, military retirement is subject to an annual Cost of Living Adjustment (COLA) based upon the Consumer Price Index. DoD has a web page with a history of the military retirement COLAs from 1998 to present.
And as explained in our Survivor Benefit Plan (SBP), the same Cost of Living Adjustment applies to SBP payments and premiums.
VA Disability Rate Increases
Veterans Administration rates increased by 1.3% in 2021, and the new VA Disability rate tables are on the VA web site.
Award-Winning Colorado Springs Military Divorce Firm
U.S. News & World Report calls Graham.Law one of the Best Law Firms in America, and our managing partner is a Colorado Super Lawyer. Our family law attorneys have years of experience helping clients navigate the Colorado legal system. We know Colorado divorce & family law inside and out, from complex multi-million dollar property or child custody cases to basic child support modifications.
For more information about our top-rated El Paso County family law firm, contact us by filling out our contact form, calling us at (719) 630-1123 to set up a free consult, or click on:
- Why Graham.Law for your Colorado Family Law Case. Learn about the benefits of hiring divorce specialists to help you.
- Our Colorado Springs Family Law Team. The great attorneys & paralegals at Graham.Law.
- Colorado Family Law Guide. The internet’s most comprehensive resource for attorneys and clients alike.
- Military Divorce Guide. Addresses specialized family law issues that arise when one spouse is in the military.
Colorado Family Law. Period.