Bipartisan legislation President Biden signed this week ties an increase in benefits for veterans and military retirees to the cost of living adjustment for Social Security recipients. That means an 8.7% boost starting in January, according to figures announced yesterday, as Stars and Stripes reported.
It’s the largest Social Security COLA in more than 40 years. It’s also the largest VA benefits increase in 40 years. Last year, benefits went up 5.9%.
Military.com provides a deeper look at which categories of recipients will get what level of benefits.
Alaska National Guard photo by 1st Lt. Balinda O’Neal
