johnsimion or any military retiree; quick question.

[wyliec]

I've been hearing about a 3.1% increase (for the military) that supposedly goes into effect Jan 1, 2020. I just went in to myPay for my military retiree pay statement and it did show an increase effective Dec. 31, 2019, which wasn't 3.1%. I called DFAS and it was 1.6% COLA. Does anyone know if the supposed 3.1% increase will be on top of that? The person I talked to at DFAS, and his co-workers new nothing of a 3.1%; they are on the retire side of the business.

 

[DennisD]

Retired Pay raise

Hey Wyliec,

I retired from Submarine Service 28 years ago.

Active Duty gets the pay raise, Retires get the COLA.


Sorry to pop your bubble


Dennis

 

[wyliec]

Hey Wyliec,

I retired from Submarine Service 28 years ago.

Active Duty gets the pay raise, Retires get the COLA.

Sorry to pop your bubble


Dennis

I was on a subtender, USS Hunley. Did we ever have the pleasure?

 

[Arion]

Hey Wyliec,

I retired from Submarine Service 28 years ago.

Active Duty gets the pay raise, Retires get the COLA.


Sorry to pop your bubble


Dennis

I agree. I retired in 1991 after 25 USAF years and I've never witnessed an increase in the range of 4.7 percent for retirees. What a sweet dream that would be, yes, no?

 

[Saluda]

Thank you for your service.

 

[CrashDavis]

I agree. I retired in 1991 after 25 USAF years and I've never witnessed an increase in the range of 4.7 percent for retirees. What a sweet dream that would be, yes, no?

With the inflation back in the Carter days, COLAs were in the 4.7 range and above. While in the Colorado School for Wayward Boys (aka AF Academy, it was males only then) the janitor talked about how his retired pay had gone up so much it was well over what he got on active duty. He didn't say, but with inflation so high, the value probably didn't increase so much.

 

[CopperSpyder]

SSBN 622 & USS Hunley, Holy Lock Scotland I think it was 1986 not sure wow long time ago. Anyway 1.6 for the ones that remember and 3.1 if the bill is signed for the ones living it.

 

[wyliec]

With the inflation back in the Carter days, COLAs were in the 4.7 range and above. While in the Colorado School for Wayward Boys (aka AF Academy, it was males only then) the janitor talked about how his retired pay had gone up so much it was well over what he got on active duty. He didn't say, but with inflation so high, the value probably didn't increase so much.

My first year in in 1967 I earned a whopping $3200.

 

[DennisD]

We might have. My last trip across the Hunley's Quarter Deck was in '81 while serving in the Engineering Dept on the USS Benjamin Franklin

 

[Chasinsparks]

Today, the Department of Defense announced annual cost of living adjustments that will benefit military retirees and survivors during calendar year 2020. Most military retirees will receive a 1.6 percent increase to their retired pay beginning with the pay they receive on January 1, 2020.Nov 7, 2019

 

[johnsimion]

Increase was 1.15625% by the numbers. Chasinsparks is correct, 1.6% by rounding. Would have been nice if they had made it 1.16499% and then they could have still rounded it to 1.6%.

 

[wyliec]

Increase was 1.15625% by the numbers. Chasinsparks is correct, 1.6% by rounding. Would have been nice if they had made it 1.16499% and then they could have still rounded it to 1.6%.

I think your math is a little off. Your examples are 1.2%.

 

[CopperSpyder]

new math, you always drop the first digit after the decimal point then round up. I think?

 

[Arion]

new math, you always drop the first digit after the decimal point then round up. I think?

:clap::clap::clap::clap:

 

[ARtraveler]

Decimal points carried out to the sixth or more place really do not imply more accuracy than something rounded up at one or two points.

Take gas miles per gallon as an example. The number is going to be "close enough" rounded.

EG: 31.46891365 mpg. rounded to one decimal....31.5 mpg. For the average Joe, or Jane, that's close enough considering all the variables that go into it. Just sayin.