COLA Has No Round-down

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President Obama has signed off on a 1.5 percent cost-of-living increase for VA compensation and pension benefits that, for the first time in years, ends a Department of Veterans Affairs practice of rounding down payments.

The Veterans’ Compensation Cost-of-Living Adjustment Act ties annual increases for veterans benefits to the same Bureau of Labor Statistics consumer price index used to adjust Social Security benefits. For the coming year, the measure would increase benefits in 2014 for almost 4 million veterans, dependents and survivors.

  • Red

    If There’s no Round Down, then why did the article in the NY times last month say that if your raise was less than 50 cents it would be rounded down. And if it was 50 cents or higher it would be rounded up. I’d like to know if I’m getting a raise with change or not.

    • phritzg

      You are right. What has changed is that up until now, every cents amount up to and including 99 cents went back to the lower dollar amount.

  • Todd

    Because the president signed into bill that it wouldn’t be rounded down again! He just signed it the other day, stop putting all your faith in ANY corrupt New York State communist paper!