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Search Tags: COLA
In the latest proposals traded back and forth between the White House and Boehner, the President proposed changing the formula the Labor Department uses to measure inflation — which would reduce annual COLAs for Social Security beneficiaries, including federal and military retirees. Federal-employee unions and groups remain worried the COLA proposals are still very much on the table.
In the fiscal-cliff talks, it now appears that both sides have blinked. Republicans appear willing to accept some higher taxes and Democrats seem to have agreed that Social Security's growing costs must be curtailed. Slightly and slowly. So how will the proposals affect you? Check out Senior Correspondent Mike Causey's column.
If Congress and the White House change the yardstick used to measure inflation, will retirees barely notice or will they have to go on a diet of Hamburger Helper and Ramen Noodles? Check out Senior Correspondent Mike Causey's column for more.
Federal-employee groups and veterans organizations say a legislative proposal that would result in lower cost-of-living adjustments for federal and Social Security retirees is a non-starter. Moving to a "Chained" Consumer Price Index method of calculating inflation would curtail future benefits for Social Security retirees, including federal employees and veterans, opponents of the proposal say.
The 1.7 percent cost-of-living adjustment (COLA) will begin with benefits that more than 56 million Social Security beneficiaries, according to the Social Security Administration. Social Security recipients received a 3.6 percent increase in benefits this year after getting none the previous two years.
Federal, postal and military retirees are about to get an inflation-adjustment. That's the good news. The bad news is that it will be a diet- version and, for most, leave a very bitter aftertaste, Senior Correspondent Mike Causey says.
Two years into a three-year pay freeze, thousands of retirement-eligible feds are doing the math and concluding that maybe they would be better off retired and getting inflation adjustments rather than working at their 2010 salary rate, Senior Correspondent Mike Causey says. So what's in it for you?
What's the difference between a pay raise for active-duty federal workers and a cost-of-living adjustment for retirees and Social Security beneficiaries? This time around it's about 1.38 percent, Senior Correspondent Mike Causey. So who's the winner?
Worried about another pay freeze next year? Thinking about retiring to get a cost of living adjustment? Timing is everything, and for some people its already too late, Senior Correspondent Mike Causey says.
Thanks to the two-year pay freeze and two years of higher health premiums many federal workers today are taking home less money than they were in 2010, Senior Correspondent Mike Causey says. Some alert feds are also curious as to whether Congress has plans to extend their pay freeze until 2013, 2014 or maybe even until 2015.