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New ‘COLA fix’ creates have, have-not retiree protection
Congress has rushed to protect the medically retired and survivor benefit recipients from the cap on annual cost-of-living adjustments it approved only a few weeks ago for all “working age” military retirees. The lightning quick “COLA fix,” part of a massive omnibus funding bill for 12 federal departments, still leaves most military retirees under age 62 with future COLAs trimmed by 1 percent below the annual inflation rate, an erosion of retirement value set to begin in January 2016. Read more…
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