There will be a COLA increase of 0.3% for federal retirees and Social Security recipients in 2017.
Numerous organizations recently sent a letter to lawmakers urging them to find a way to ease the burden of expected rising Medicare part B premiums in 2017 to help retirees.
Legislation would change the COLA calculation for Social Security and federal retirees to the CPI-E index. It would also benefit those collecting spousal benefits.
Federal retirees could be facing a “perfect storm” of events that could collectively cause costs for their benefits to rise sharply in 2017. NARFE has been campaigning to minimize the potential negative impact on retired federal employees.
What is the status of a 2017 raise for federal employees, next year’s COLA increase, proposed locality pay changes and military pay? Here is an update.
The outlook for federal retirees and Social Security recipients for an increase in income in 2017 is bleak. For the average Social Security recipient, next year’s COLA increase is unlikely to be over $5.00 per month.
A series of actions are leading probable declines in the take home pay of federal retirees in 2017. Current federal employees, however, are on pace to see their largest pay increase since 2010.