2024 Cola Increase For Vats. How much is 2024’s cola increase worth? The code of virginia caps the annual cola at a 3% maximum for plan 2 and hybrid retirement plan members, or a 5% maximum for plan 1 members.

The 2024 cola for social security will rise 3.2% for most recipients beginning in january 2024.² this is still a relatively substantial increase compared to. This adjustment aims to keep pace with inflation and ensure that veterans’ benefits remain sufficient to cover their living expenses.