Inflation Soars Again: Value of 2022 Federal Pay Raise and COLA Going Down
Inflation is soaring. The 2022 COLA will be 5.9%. Inflation is now at 7.6% over 12 months per the CPI-W and the 2022 federal pay raise is projected at 2.7%.
COLA
What Inflation Does to Your Federal Retirement
Inflation has been rising at a much higher rate than usual. How can this impact a federal employee’s retirement?
Your 2022 Federal Pay Raise, COLA, and Why 2021 Inflation Is Important
The 2021 inflation rate so far is now 6.2%. With a projected 2022 federal pay raise of 2.7%, and a COLA of 5.9%, purchasing power is declining fast.
2022 COLA: 5.9%; Largest in 40 Years
The 2022 COLA will be the largest increase in 40 years, a fact obviously of interest to federal retirees and Social Security recipients.
Calculating Your 2022 COLA With Eager Anticipation
The 2022 COLA will be determined by inflation during a three-month period. Here are the latest inflation figures impacting the January COLA payment.
Be Aware of the Medicare Part B Premium When Taking Social Security at Age 62
Enjoying your Social Security benefit prior to age 65 means less money to pay the Medicare Part B premiums – for the rest of your life.
Federal Pay Raise 2013-2021: 13.1%. Actual Increase: 18.1% (DC Increase: 21%)
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%.
Up, Up and Away: 6.2% Possible for 2022 COLA
Inflation is up again in July. There is another higher projection for the 2022 COLA figure to be announced in October.
2022 COLA: Why Are FERS and CSRS Different?
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 COLA Projected to Be the Highest In Decades
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.
