2.8 COLA for 2019
The Bureau of Labor Statistics (BLS) recently announced a 2.8 percent increase in the Cost of Living Adjustment (COLA) for the calendar year 2019 for military and federal civilian retirees, survivor benefit annuitants, disabled veterans and Social Security recipients. The new COLA rate is effective December 1, 2018 and the adjustment will appear in the December 30, 2018 payment.
By law, COLA is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), a broad measure of consumer prices generated by the Bureau of Labor Statistics from the third quarter of the previous year to the third quarter of the current year. It measures price changes for food, housing, clothing, transportation, energy, medical care, recreation and education. Since 2008, the annual COLA has been above two percent only once and has been zero three times.
CFPB Provides Service Members a Website for Financial Assistance
The Bureau of Consumer Financial Protection, Office of Service Members Affairs recently launched a new website to assist service members in different financial stages. It is an interactive, story driven learning tool titled "Misadventures in Money Management." Currently the stages that one can choose from include active duty, those in the delayed entry program and those in the Reserve Officers' Training Corps. CFPB is also developing story lines for service member families and civilians. These story lines will vary from something as basic as establishing a line of credit to the more extreme, being responsible for saving mankind from a zombie apocalypse based upon their characters' financial decisions. The consequences of their decisions may be exaggerated but the lessons learned can be extremely valuable. To visit the website, go online.
Happy Birthday Navy!!!!
October 13, 2018, marks the 243rd anniversary of the United States Navy that traces its origins to the Continental Navy, established by the Continental Congress on 13 October 1775 to fight in America's war for independence. The Continental Navy numbered some 50 ships over the course of the war, with approximately 20 warships active at its maximum strength.
The Constitution of the United States ratified in 1789, empowered Congress "to provide and maintain a navy." Acting on this authority, Congress ordered the construction and manning of six frigates in 1794, and the War Department administered naval affairs from that year until Congress established the Department of the Navy on 30 April 1798.