Your COLA in 2014: 1.5%
The Social Security Administration announced today that the annual cost of living adjustment for Social Security recipients will be 1.5%.
The Social Security Administration announced today that the annual cost of living adjustment for Social Security recipients will be 1.5%.
What is the overall impact of the pay freeze on employees retiring in the near future? The author runs some hypothetical numbers to illustrate.
How would a chained CPI impact a federal retiree’s annuity payments over time?
How much of an increase will federal retirees get in their retirement annuity in January 2013? Probably not much.
The author tells a true story of a federal employee and friend who suffered some serious health problems and had to contend with leave without pay and retirement annuity considerations to cover his medical bills.
Employees and retirees live in the same environments and are subject to the same increases in the cost of living, but the general, annual raise they get is different. The author outlines sample annual raises for three hypothetical employees.
After two years without any increase in the cost of living adjustment (COLA), there will be an increase of 3.6% for those who receive the full amount of the annual adjustment.
Inflation has been very low for the past two years and federal retirees and those receiving Social Security payments have not had an increase. That is likely to change in 2012. Here’s why and how much.
The deficit reduction commission made a number of proposals late last year, including some that would impact federal pay and benefits. President Obama has not endorsed the recommendations. That may be about to change. Here is a summary of proposals from this commission that would impact the federal workforce and retirement programs.
Recent recommendations in Congress could have a negative impact on the cost of living adjustment (COLA) for federal employee retirees.