Disabled Vets, Retirees to Get 2.8 Percent COLA Bump
Dec 27, 2018
Northville, MI (Law Firm Newswire) December 27, 2018 – The new year will put an extra of about $100 per month in the pockets of disabled veterans thanks to the largest cost of living adjustment (COLA) since 2012. The Department of Veterans Affairs (VA) approved the rate increase in November. Disabled veterans will see a monthly increase of about $100, while military retirees will receive increases that vary based on their individual retirement plans.
The 2.8 percent increase takes effect on January 1 and gives additional amounts to veterans with a disability rating of 30 percent or higher and who have dependents. Veterans also receive more pay if they have a child enrolled in college or a spouse who is disabled. A veteran with a 100 percent disability, spouse and two children would see a monthly benefit increase to $3,437.10.
“The new COLA rates are great news for Michigan veterans struggling to make ends meet,” said veterans affairs attorney James G. Fausone. “Some veterans, though, might encounter problems with their rate adjustments and disability benefits, due to VA assessments. We can help ensure veterans receive their full compensation.”
In addition to the COLA increase, many veterans also qualify for a 2.8 percent increase in special monthly compensation. That pay goes to veterans who lost the use of particular organs or appendages or suffered amputations due to military service.
Legal Help for Veterans, PLLC
41700 West Six Mile Road, Suite 101
Northville, MI 48168
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