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A military serviceperson will receive less COLA if they live on post than they would if they lived off post. This reduction in COLA reflects the lower living expenses. Overseas Housing Allowance, however, is completely independent from COLA and the amount one receives in COLA will not affect one's Overseas Housing Allowance.
COLA (cost of living allowance): Non-taxable money paid monthly to offset the additional costs of living in a particular location, usually an overseas location. The amount of COLA varies by country and possibly location in a country.
The National Defense Authorization Act for Fiscal Year 2022 (S. 1605; NDAA 2022, Pub.L. 117-81) is a United States federal law which specifies the budget, expenditures and policies of the U.S. Department of Defense (DOD) for fiscal year 2022. Analogous NDAAs have been passed annually for 60 years.
The Internal Revenue Service recently announced that the amount individuals can contribute to their 401(k)s in 2022 has officially increased to $20,500. This is a $1,000 increase from 2021 and ...
Only under a flat tax system would a percentage gain on gross income translate into a comparable inflation-offsetting gain at the after-tax level. Some salaries and pensions in the United States with a COLA include: Social Security; Civil Service Retirement System (CSRS) [5] Federal Employees Retirement System (FERS) [5]
In 2021, the average monthly Social Security benefit came out to $1,565. After a 5.9% cost-of-living adjustment scheduled to go into effect next year, the average benefit will rise to about $1,657...