Va Employee Cola 2024. Because of this year's 3.2 percent cola , beneficiaries can expect a payment of. Take the 2024 cola of 3.2 percent, multiply it by the 2023 compensation rate, and then add that number to the rate.
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. In 2024, rates increased 3.2% to help veterans and their families access vital necessities.