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Overseas Cost-of-Living Cuts Are About to Take a Bite Out of Paychecks. Some Bases Are Already Warning Troops.

October 16, 2023

Thomas Novelly and Steve Beynon

Military.com

U.S. Army soldiers in training exercise during Joint Pacific Multinational Readiness Center-Alaska 23-02 at Yukon Training Area, Alaska, April 1, 2023. (U.S. Air Force photo by Senior Airman Patrick Sullivan)

 

By Thomas Novelly and Steve Beynon, Military.com / October 16, 2023

Cuts to service members' overseas cost-of-living allowances are coming next month, and some areas are already starting to warn troops about the financial impact it could have on their families.

Some are in for a major hit to their financial bottom line. For example, a specialist in the 11th Airborne Division based out of Alaska with one dependent will lose $129 a month, according to an Army memo reviewed by Military.com. A major with four dependents will lose $464.68 per month.

After delaying the cuts for nearly a year, the Defense Department announced in May that service members stationed overseas, including troops in Alaska and Hawaii, would see cuts to their cost-of-living allowance, called OCOLA, spread out over two separate dates: May 15 and Nov. 15.

Read the rest of the article here: www.military.com/daily-news/2023/10/16/troops-alaska-hawaii-and-overseas-brace-cost-of-living-cuts-coming-next-month.html

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