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Another pay increase of 4.5% was given to military members as part of the 2025 National Defense Authorization Act. Earlier this year, a pay raise of 5.2% on average was given to federal employees ...
That is lower than the 4.4% average increase they paid out in 2023, which marked a 20-year high for base pay raises. But it is a tick up from the 3.8% bump that companies were paying out this year ...
The 2023 budget that became law in October is a two-year spending plan covering the fiscal years of July 1, 2023 through June 30, 2025. The bill built in the raises to be doled out over two years.
The pay raise comes along with the Pentagon's higher tax-free housing allowance. Basic Allowance for Housing rates will increase an average of 5.4% when the new rates take effect on Jan. 1, 2025.
Junior enlisted servicemembers are slated for a 14.5% pay raise; it's 4.5% for all other servicemembers. Access to child care for the 63,700 children of North Carolina military families is also ...
When will I get my raise? Workers should see larger paychecks starting in January 2024. Most workers’ pay raises will be processed “before the end of the calendar year,” wrote spokesperson ...
The House initially proposed spending only $124 million on raises, giving a $2,500 raise to any employee earning $83,000 or less. Those earning more than $83,000 would have received a 3% raise.
Image source: Getty Images. How much more money will retirees get next year? The Social Security Administration announced recently that seniors will get a 2.5% benefits increase for the 2025 year.