When veterans and their families, who receive disability compensation and retirement benefits from the Veterans Affairs Department, receive their annual cost-of-living increase next month, for the first time ever, it won’t be rounded down to the nearest dollar.
However, until this year, the COLA for veterans’ benefits was rounded down to the nearest dollar. That will change with payments beginning in January, since Congress left that provision out of its legislation.
“We’re pleased there will be another cost-of-living increase for Veterans, their families and their survivors,” Veterans Affairs Secretary Eric Shinseki said in a statement. “The increase expresses in a tangible way our nation’s gratitude for the sacrifices made by our service-disabled and wartime Veterans.”