The annual COLA and pay raise are complex and often cause confusion. This is what they are and how they are different.
Inflation has been rising fast, and the 2023 COLA was just announced. Even with a projected 2023 pay raise of 4.6%, purchasing power is declining fast.
Is 2022 a good year to retire? How do the annual pay raise, inflation, and COLAs compare during similar economic circumstances under Presidents Carter and Biden?
President Biden has issued the letter outlining his alternative pay plan of a 4.6% average increase for the 2023 federal pay raise.
The Federal Salary Council said that federal employees are underpaid by an average of over 20%. Does this mean you should expect a pay raise of this size?
The 2023 pay raise is moving and still at 4.6%. Action is also taking place in the Senate on removing the long pay freeze for some senior officials.
A key spending bill makes another case for a 4.6% 2023 federal pay raise.
A draft bill in Congress is proposing paying some federal employees a 2023 inflation bonus to help offset rapidly rising inflation.
What are the prospects for a larger 2023 federal pay raise? Will the highest inflation in 40 years have an impact?