Sat. Dec 7th, 2024

How lawmakers are looking to change the COLA for federal retirees

February 13, 2023

READ FULL ARTICLE AT » Federal News Network

House lawmakers are pushing forward plans to change annual cost-of-living adjustments for federal retirees in more ways than one.

For one, the familiar Equal COLA Act, which Rep. Gerry Connolly (D-Va.) reintroduced, would change how the annual cost-of-living adjustment, commonly called the COLA, is calculated for the Federal Employee Retirement System (FERS).

Specifically, the bill would give FERS retirees a full annual COLA to their annuity payments, in effect, achieving parity with retirees in the Civil Service Retirement System (CSRS), who already receive the annual COLA in its entirety.

Subscribe
Notify of
guest
1 Comment
Inline Feedbacks
View all comments
1
0
Would love your thoughts, please comment.x
Send this to a friend