Retirees, Survivors to Get Cost of Living Adjustment in 2020

Retirees and survivors will see a slight increase in their benefits for 2020, the Pentagon announced.

Most military retirees will receive a 1.6 percent bump to their retired pay starting Jan. 1 to reflect the cost of living increase, based on the Consumer Price Index. Additionally, survivors of service members who died on active or inactive duty, or survivors of military retirees who are in the Survivor Benefit Plan will also see the 1.6 percent increase to their annuities, according to a Defense Department release.

Survivors who are eligible for the Special Survivor Indemnity Allowance will also see the 1.6 percent adjustment. However, those who retired in 2019, and those who retired under the REDUX retirement system, will see a different cost of living adjustment.

More information is available here.