The 2023 COLA is the largest in over 40 years. When will federal retirees get the increased payments?
Historic inflation, COLA, pay raise and problems related to the TSP website: a recap of 2022 for federal employees.
The annual COLA and pay raise are complex and often cause confusion. This is what they are and how they are different.
Federal employees planning to retire at the end of 2022 to take advantage of the large 2023 COLA are likely to be disappointed.
Inflation has been rising fast, and the 2023 COLA was just announced. Even with a projected 2023 pay raise of 4.6%, purchasing power is declining fast.