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.
While there is no “perfect” age for a federal employee to retire, there are some benefits to waiting until at least age 62.