Posts Tagged ‘VA COLA 2013’

VA COLA 2013

Posted: March 29, 2012 in Uncategorized

Current law requires automatic adjustments to Social Security and military retired pay based on a formula (CPI) that measures the rate of inflation. However, Veterans benefits like VA disability and Dependency and Indemnity Compensation still require legislation to authorize a similar increase. Typically the rate authorized is the same as Social Security. In recent years, increases for Social Security and federal retired pay are known for some time before Congress acts to raise VA payments. Last year, Social Security announced it’s COLA on October 19 but Congress didn’t agree to legislation authorizing a similar increase for VA recipients until November 2. On March 5, Representative Jon Runyan (R-NJ) introduced H.R.4142, the American Heroes COLA Act to make VA’s cost-of-living adjustments automatic like Social Security and military retired pay. This bill has been referred to the Committee on Veterans' Affairs and its passage would eliminate the period of uncertainty between the announcement of the Social Security COLA and action by Congress to raise VA’s rates. [Source: AFSA On Call article 8 Mar 2012 ++]