2009 retirement COLA

I can't tell you how grateful I am for COLA's. We get a military and Civilian pension, add SS, and we get a COLA on all 3. I read on another RV forum, when the question was asked, on how is everyone doing with the markets, and economy? I teasingly told my husband it's great to be poor, because having nothing, means having nothing to loss. I have always been conservative with money, so we have it in savings, and a money market, with our federal credit union. Sadly, when I read the forum there were a lot of people who were hurting. I was most touched by a man who said, his retirement did not get COLA's, so he was thankful SS gave one. I can't imagine. I guess this is what they call fixed income. I am so Blessed, to think the we do get something extra each year, and see a glass as half full.

The wife read in the paper that there will not be an increase in medicare this year, that is where my ss raise usually goes. my SBP was paid up this month that is better than the cola raise we will get. I remember in the 80's we got a cola raise notice and they cancled it for military retirees before we got it.

good morning,

wondering if anyone knows when congress will approve and the president sign into law our 2009 COLA? just trying to get a rough ideal and budget how much my pension will rise by. seems to me i read somewhere our cola could be as much as 6.2%

seem possible?

thanks,
david

The Jul % increase was 6.187% and the Aug % increase was 5.929% as I understand how the COLA is calculated, so whatever the Sep % increase will be added to these and the sum divided by 3.

Larry

I've read it will be announced Oct 16 ... and goes into effect in Nov, so the Dec 1st pension will be the first month we receive the new amount. I've read from 5.1% to 6.2% COLA at different sources but I never actually believe it until I look in my account and it's there in real dollars I can spend.

Social Security is going up 5.8%, military retired pay is tied to that figure, so it also should go up.

dbentley

WHooooooooooops, my mistake. First check to see this raise will be Jan - not Dec ... shame on me.

Sure is nice to see the 5.8% instead of that 2.3% laugher last year. Reality is we'd probably need about 10% just to break even -- but I'll certainly enjoy spending this one every month.