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The fundamental goal of COLA is to compensate service members for the high cost of living at certain duty stations. COLA rates are based on a service member's pay grade, years of service, and number of dependents. An area is considered high cost if the cost of living for that area exceeds 108% of that national average of non-housing costs.
The rate for BAS II is fixed at twice the rate for standard enlisted BAS. Effective 10 February 2006, the Navy authorized the payment of BAS II. Effective 1 October 2010, the Air Force authorized payment of BAS II to members at specific locations. Overseas housing allowance (OHA) is BAH for servicemembers stationed OCONUS.
The study data suggested the 2022 COLA lagged behind ongoing rates of inflation by nearly 50%, on average. As Barron’s reported, The Senior Citizens League (TSCL) published a Dec. 13 report that ...
Frequently a "utility allowance" also accompanies OHA. This is usually a flat rate given to the member to cover the cost of utilities, regardless of the actual amount. In certain countries, an additional Move In Housing Allowance (MIHA) is allotted to cover the cost of cleaning, maintenance, repainting, and general refurbishing of the rental unit.
The Social Security Administration has released the schedule of Social Security payments for 2022. These payments will be the first to include the new 5.9% cost-of-living adjustment (COLA ...
A 5.9% cost-of-living adjustment (COLA) in 2022 boosted the average payment for Social Security recipients to $1,656 a month from $1,564 in 2021, according to a new report from the Senior Citizens ...
The cost of living is the cost of maintaining a certain standard of living for an individual or a household. Changes in the cost of living over time can be measured in a cost-of-living index. Cost of living calculations are also used to compare the cost of maintaining a certain standard of living in different geographic areas.
In fact, Social Security beneficiaries received an 8.7% raise for 2022 after inflation spiked higher. Last year, the cost-of-living adjustment, or COLA, was significantly lower, at just 3.2%.