Fed retiree COLA may shrink in 2024. Here’s why that’s a good thing.

Snippet of Article: "For 2023, the COLA surged to 8.7%, and federal retirees saw the highest inflation increase in their benefits since the early 1980s. Now, inflation rates are slowly leveling out after reaching a four-decade high in 2022, and in response, the COLA is projected to be much more modest. ..."

Source: www.federaltimes.com

2024 COLA,COLA,

COLA, yes — pay raise? Maybe

Snippet of Article: "...With two months left to go in the inflation-tracker-countdown federal, military and Social Security retirees are on track for a raise of 2.7 percent. Maybe more? That COLA is not subject to action by Congress or the White House..."

Source: federalnewsradio.com

COLA

2019 Budget provides no raise, targets retirement benefits for federal employees

Budget provides no raise, targets retirement benefits for federal employees

Snippet of Article: "...Eliminating cost-of-living adjustments on the civil service annuities of those retired under FERS while reducing the adjustment by a half-percentage point for those retired under the older Civil Service Retirement System. For those retiring in 2019 and later, annuities would be based on the highest five consecutive salary years rather than the current three, and those retiring under FERS below age 62 would no longer receive a supplement that is paid until that age when they can collect Social Security...."

Source: www.washingtonpost.com

2 percent federal retirement COLA set for January

Snippet of Article: "...Under FERS, an inflation adjustment isn’t paid until age 62, except for those who retired due to disability or from certain occupations that require earlier retirement. The average monthly civil service benefit under FERS is about $1,400, yielding an average increase, for those eligible, of $28. Those retired under FERS are eligible for Social Security benefits under standard rules and those receiving that benefit — which generally cannot begin earlier than age 62 — will see that payment boosted by 2 percent as well..."

Source: www.washingtonpost.com

CSRS vs FERS, 2018 Federal Retiree COLA, COLA,

No cost of living increase for Social Security

Article Title: No cost of living increase for Social Security
Snippet of Article: "...For the first time in a generation, the trustees who oversee Social Security are projecting there won't be a cost of living adjustment (COLA) for the next two years. ..."

Source: www.digitaljournal.com

[tag]Federal,Government,Military,Retiree, [/tag]

Article Title: Pay Raise Horse Beats COLA Mule
Snippet from Article: "... living costs as measured by the Bureau of Labor Statistics Consumer Price Index dropped 1.3 percent. They were down again in November (2.3 percent) and December (1.2 percent). Increases in January, February and March were modest and that, for the COLA, is the problem...."
Source: postalbriefing.blogspot.com

[tag]Federal,Government,Military,Retiree, [/tag]