Federal pay raises granted over 8 years totaled 13.1%, however, the actual average salary went up 18.6%. In DC, the average salary went up 21%.
Inflation is up again in July. There is another higher projection for the 2022 COLA figure to be announced in October.
The 2022 COLA will be significant but lower for FERS than for CSRS. Here are the differences and an explanation for the differences.
Social Security recipients are likely to get a big COLA in 2022, but the author notes that this is a major financial burden for the program.
Some federal employees under FERS could see a significant cut to their pensions if they meet these criteria.
Inflation is up this year which will likely boost next year’s COLA for federal retirees, but there is some bad news for FERS retirees.