Bucks County Veterans to Receive Largest COLA Raise Since 2012
Updated: Aug 27, 2019
Last week, the Social Security Administration announced that its annual cost-of-living adjustment (COLA) for 2019 will be 2.8 percent, marking the highest increase for recipients since 2012.
Officially signed into law by President Donald Trump, the annual adjustment attempts to account for inflation when calculating appropriate payouts for benefit programs, including those geared toward veterans and retired military personnel. According to preliminary calculations, the average retiree could see an increase of about $800 to their benefits per year.
Changes in benefits will go into effect in January 2019, and will affect all those currently receiving benefits under the qualified programs. Disabled Veterans will also see a raise, seeing about a $4/month increase for those rated at 10 percent and up over $80/month for those at 100 percent.
With thousands of local veterans looking forward to enjoying the added income, many more are not utilizing the full range of benefits that they deserve. Salute 2 Service meets with veterans from all across the Bucks County and Philadelphia area every day in our Bristol, PA headquarters, making sure they receive the maximum for their dedication and sacrifice for our country.
If you or a loved one need help understanding veterans' benefits, or need help signing up for them, give us a call at 267-554-7956 or email us at email@example.com to come in for a free and personalized benefits analysis from our trained and experienced advisers.