Articles in this section cover the annual cost of living adjustment (COLA) for retired federal employees. Our authors illuminate the intricacies of the COLA and its significant impact on the financial well-being of federal retirees. Discover insights into the factors influencing COLA calculations, the historical trends in adjustments, and how these annual changes directly affect the purchasing power of retired federal workers. Stay informed about the latest updates, legislative changes, and expert analyses about the COLA, ensuring retirees are equipped with the knowledge necessary to navigate their finances effectively. Explore our articles to gain a comprehensive understanding of the annual adjustments that play a pivotal role in shaping the financial landscape for retired federal employees.
Here is a reality check for readers. Inflation is alive and well. Federal retirees are on track for an increase of 5.7% next year–with another three months to go before the final figure is known. Federal employees may get an average of 3.9%–or there may be a continuing resolution that would delay finalizing the budget until 2009.
Congress has gone home even though the Senate says it is still technically open for business. While they may enjoy their time away from DC, their departure leaves open the possibility of furloughs in DoD, funding for most federal agencies still up in the air and uncertainty about the 2008 pay raise for current federal employees. Retirees are set though. Enjoy your holiday.
How much will the retirement check for federal retirees kick up in 2008? Here is a mid-term report on next year’s COLA.
Federal retirees receive an annual cost of living increase indexed to inflation, but the inflation index may not reflect your true cost of living.
The annual COLA increase for federal retirees is still going up and will become effective in January 2007.
The rate of inflation is continuing its upward trend. This means that federal retirees will get a bump up in annuity payments in 2007 to help cover the rising cost of living.
Federal employees outside of the contiguous 48 states are paid differently than most FedSmith readers who usually get an annual raise and locality pay. OPM did a survey on housing costs in these areas outside the 48 contiguous states and has published the results.
The COLA adjustment for retirees won’t be final until the September figures are calculated. For now, the differential is 3.1%.
Many Federal retirees are on track for a 2.9% increase next year–and the figure is likely to be higher by the end of September.
Many federal retirees can look forward to a larger than expected increase in their annuity check in January 2006.
