Increase in Gold Star Parents Compensation Signed into Law

Governor Andrew Cuomo has signed legislation to provide an annual increase in the rate of compensation for Gold Star Parents. Under current law, Gold Star Parents are paid $500 annually with no provision for an annual increase. This new legislation amends the law to allow for an annual increase at a rate equal to the percentage increase of benefits set by the U.S. Department of Veterans’ Affairs. Since its implementation in 2008, the Gold Star Parent Annuity has not been increased, despite inflation and other economic factors causing prices to rise.