DOD: Europe’s COLA to hold through end of year

[unhappycamper]

DOD: Europe’s COLA to hold through end of year
Stars and Stripes

Cost-of-living allowances paid to U.S. troops in Europe won’t change for the rest of the year, according to the Defense Department’s Per Diem, Travel and Transportation Allowance Committee Web site.

In the last biweekly review of allowances for the year, COLA rates at all European locations with significant numbers of troops were left unchanged from previous levels.

Exchange rates for both the euro and the British pound have gotten better for overseas Americans in recent weeks. The dollar’s strength is a major factor in determining cost-of-living allowance rates. A stronger dollar can lead to a reduction in the amount of COLA troops receive, while a weak dollar has the opposite effect.

Individual COLA varies according to a member’s rank, years in service, location and number of dependents, among other factors.


Article at: http://www.stripes.com/article.asp?section=104&article=51074



uhc comment: The current rate is 1 Euro = $1.4411.