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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 Selected Reserve (also called SELRES, SR, or mistakenly Selective Reserve) are the members of a U.S. military Ready Reserve unit that are enrolled in the Ready Reserve program and the reserve unit that they are attached to. Selected Reserve members and units are considered to be in an active status. [1]
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The United States Navy Reserve (USNR), known as the United States Naval Reserve from 1915 to 2004, [1] is the Reserve Component (RC) of the United States Navy.Members of the Navy Reserve, called reservists, are categorized as being in either the Selected Reserve (SELRES), the Training and Administration of the Reserve (TAR), the Individual Ready Reserve (IRR), or the Retired Reserve.
In the 2023 Social Security COLA Announcement, Kijakazi states that as long as you set up your My Social Security account online by Nov. 15, 2022, you will be able to see the exact adjustment in ...
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The reserve components of the United States Armed Forces are military organizations whose members generally perform a minimum of 39 days of military duty per year and who augment the active duty (or full-time) military when necessary. The reserve components are also referred to collectively as the National Guard and Reserve. [1] [2]
For now, the estimated Social Security cost of living adjustment (COLA) for 2023 is 8.7%, according to The Senior Citizens League, a non-partisan seniors advocacy group.