Overseas troops see pay swings thanks to COLA

Overseas troops see pay swings thanks to COLA
By William H. McMichael - Staff writer
Posted : Monday Oct 6, 2008 6:52:54 EDT

The paychecks of some troops stationed overseas have gotten smaller over the past 12 months — in some cases, by as much as $161 per bimonthly paycheck. Others have seen their pay grow compared with a year ago, although they’ve had significant ups and downs along the way.

Such is the effect of the fluctuations of the dollar on the overseas cost-of-living allowance paid to 260,000 service members in more than 600 locations.

For example, the end-of-September paycheck of an E-5 with six years of service and three dependents stationed in Seoul included a COLA payment of $208 — $161 less than in the first paycheck of October 2007.

E-5s in similar circumstances at Lakenheath and Mildenhall, England, saw a $346 COLA payment in that September check — a drop of $92 from 12 months earlier.

The COLA payment of a similar E-5 based in Yokota, Japan, was $277 in early October of last year and $300 in late September of this year — an overall increase of $23. But along the way, that member’s COLA payment reached as high as $394 in early March as the Japanese yen rose in value against the dollar, only to fall back in the months since then.


Rest of article at: http://www.navytimes.com/news/2008/10/military_overseas_cola_100508w/%2e