DoD recently announced the 2023 military retiree COLA that will first reflect in retired pay received on or about 1 January 2023. The full COLA is 8.7% for retirees who retired prior to 2022. For those who retired in the first quarter of 2022 (between 1 Jan and 31 Mar 2022), the COLA is 7.0%. For those who retired in the second quarter of 2022 (between 1 Apr and 30 Jun 2022), the COLA is 4.4%. For those who retired in the third quarter (between 1 Jul and 30 Sep 2022), the COLA is 1.2%. For those who retired in the fourth quarter (between 1 Oct and 31 Dec 2022), the COLA is 0.0%.
Author Jim Cramp is a retired active duty colonel and principal attorney at the Cramp Law Firm, PLLC. The firm specializes in Federal Civil Service and Military Divorce matters, as well as other family law matters that affect Federal Civil Service and Military families.
Note: The DoD Memorandum is available at https://militarypay.defense.gov/Pay/Retirement/Cola/