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
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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