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COLA

2024 Federal Pay Raise: How About 8.7%?

FedSmith.com author Ian SmithBy Ian SmithUpdated: January 27, 2023 12:13 PM Categories Federal Employee Pay News Leave a comment
Illustration of bags and piles of money growing in size from left to right with a rising trend line arrow above them depicting growing savings/wealth for retirement

Legislation has been introduced to set the 2024 federal pay raise for federal employees at 8.7%.

2024 COLA? 2022 Inflation 6.5%, COLA 8.7%, Average Raise 4.6%

FedSmith.com author Ralph R. SmithBy Ralph R. SmithJanuary 12, 2023 10:00 AM Categories Federal Employee Retirement Leave a comment
December 2022 inflation rate 6.5% 2022 inflation over the last 12 months as of December 2022 and its impact on everyday items: Food at home, electricity, shelter, new cars, gas

The 2022 inflation rate was 6.5% at the end of the year. The COLA for 2023 was 8.7%. What is likely to happen with the 2024 COLA?

When Will Federal Retirees See the 2023 COLA in Their Annuity Payments?

FedSmith.com author Ian SmithBy Ian SmithJanuary 7, 2023 7:33 AM Categories Federal Employee Retirement Leave a comment

The 2023 COLA is the largest in over 40 years. When will federal retirees get the increased payments?

2022 in Review: 2023 Federal Pay Raise, Federal Employee Vaccine Mandate and More

FedSmith.com author Ian SmithBy Ian SmithDecember 30, 2022 10:12 AM Categories Current Events Leave a comment

Historic inflation, COLA, pay raise and problems related to the TSP website: a recap of 2022 for federal employees.

Inflation, 2023 Federal Pay Raise, and Declining Wealth As 2022 Winds Down

FedSmith.com author Ralph R. SmithBy Ralph R. SmithUpdated: December 13, 2022 8:12 PM Categories Federal Employee Pay News, Federal Employee Retirement Leave a comment
2022 inflation over the last 12 months as of November 2022 and its impact on everyday items: Food at home, electricity, shelter, new cars, gas

While the anticipated 2023 federal pay raise is 4.6%, on average, inflation has slowed to an annual increase of 7.1%.

How is the Annual Federal Employee Pay Raise Determined? What You Need to Know

FedSmith.com author Ralph R. SmithBy Ralph R. SmithDecember 1, 2022 7:40 AM Categories Federal Employee Pay News Leave a comment
Four separate vertical stacks of coins growing in size from left to right pictured next to a white piggy bank on a wooden surface

How is the annual federal employee pay raise determined for the upcoming year?

2022 Inflation Continues Going Up; FERS Retirees Still Get 1% Less Than CSRS on 2023 COLA

FedSmith.com author Ralph R. SmithBy Ralph R. SmithNovember 10, 2022 9:39 AM Categories Federal Employee Retirement Leave a comment
2022 inflation over the last 12 months as of October 2022 and its impact on everyday items: Food at home, electricity, shelter, new cars, gas

Inflation is still with us in 2022. The latest inflation figures are no longer at a 40-year high, but consumers are still feeling pinched.

What’s the Difference in the Annual COLA and Pay Raise?

FedSmith.com author Ian SmithBy Ian SmithNovember 8, 2022 8:35 AM Categories Federal Employee Retirement, Federal Employee Pay News Leave a comment

The annual COLA and pay raise are complex and often cause confusion. This is what they are and how they are different.

Why Retiring Now Won’t Help You Cash In on the 2023 COLA

FedSmith.com author Ralph R. SmithBy Ralph R. SmithNovember 4, 2022 9:26 AM Categories Federal Employee Retirement Leave a comment

Federal employees planning to retire at the end of 2022 to take advantage of the large 2023 COLA are likely to be disappointed.

4.1% Differential Between 2023 Pay Raise, COLA

FedSmith.com author Ralph R. SmithBy Ralph R. SmithOctober 19, 2022 8:11 AM Categories Federal Employee Pay News, Federal Employee Retirement Leave a comment

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.

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Daily TSP Rates

January 26, 2023

Fund Last % YTD
G Fund $17.2841 +0.01% +0.28%
F Fund $18.7937 -0.23% +3.22%
C Fund $62.3466 +1.11% +5.84%
S Fund $67.0875 +1.05% +9.03%
I Fund $36.9121 +0.11% +8.75%
L Income $23.3385 +0.18% +2.13%
L 2025 $11.7801 +0.28% +3.12%
L 2030 $40.8907 +0.44% +4.65%
L 2035 $12.1835 +0.48% +5.09%
L 2040 $45.7646 +0.52% +5.51%
L 2045 $12.4458 +0.56% +5.89%
L 2050 $27.0971 +0.60% +6.24%
L 2055 $13.1536 +0.74% +7.26%
L 2060 $13.1524 +0.74% +7.26%
L 2065 $13.1510 +0.74% +7.27%
Get detailed TSP data at TSPDataCenter.com

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