President Bush signed the veterans' cost of living allowance (COLA) for 2009 on September 25th. The veterans' COLA will be 5.8%, marking the largest COLA increase since 1982. When the Social Security COLA of 5.8% for 2009 was announced, the veterans' COLA went largely unannounced. However, traditionally the veterans' benefit increases at the same rate as Social Security. The new rate will take effect on December 1, 2008
The increase was determined by the Bureau of Labor Statistics based on the corresponding increase in the Consumer Price Index (CPI). Last year's COLA was merely 2.3%.
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