COLA Update - NARFE
Individuals receiving insurance benefits under the Federal Employees Compensation Act (FECA) received a 3.3 percent COLA in March 2024. This number was determined by comparing the December 2023 CPI-W (300.728) to the December 2022 CPI-W (291.051).
2023 COLA - NARFE
In response to the 2023 cost-of-living adjustment (COLA) for federal retirement annuities and Social Security benefits determined today pursuant to data calculated by the Bureau of Labor Statistics, NARFE National President Ken Thomas issued the following statement:
High Inflation Demonstrates Value of COLA – NARFE
Oct 13, 2022 · “The 2023 COLA represents the highest increase in decades, dwarfing this year’s 5.9% annual cost-of-living adjustment, which was the largest since 1982. “However, rising health care costs and the unfair treatment of specific federal annuitants could reduce the value of …
National Active and Retired Federal Employees Association - NARFE
COLA FOR 2023 The COLA for CSRS retirees is 8.7% and the COLA for FERS retirees is 7.7%. NARFE supports the Equal COLA Act, H.R. 304 but Congress has not acted on HR 304. Please contact your Congressman preferably before the election. UPCOMING WEBINAR SCHED ULE
August 2023 NARFE Magazine by NARFE - Issuu
We’re incrementally gaining support for the Equal COLA Act, H.R. 866, to provide FERS retirees with a full COLA when inflation is high. And NARFE continues to push for improvements to OPM ...
2023 COLA UPDATE Civil Service Retirement System (CSRS) annuities and Social Security benefits will increase through an 8.7 percent cost-of-living adjustment (COLA) for 2023. Federal Employees Retirement System (FERS) annuities will receive a 7.7 percent COLA. Both COLAs will be reflected in January 2023 payments.
For example, the 2023 COLA was 8.7% — the highest percentage increase since 1982. But FERS retirees saw only a 7.7% COLA. Bills have been reintroduced in the House on the long-running issue of calculating COLAs for federal retirees and two Social Security ofsets applying to most of those who are retired, or will retire, under the CSRS system.
How lawmakers are looking to change the COLA for federal retirees
Feb 9, 2023 · House lawmakers have reintroduced the Equal COLA Act, to equalize cost-of-living adjustments for federal retirees, and the Fair COLA for Seniors Act, to change how the annual adjustments are calculated.
Predicting the 2023 COLA and How to Avoid the Surprise of a
Apr 9, 2022 · One estimate currently puts the 2023 COLA at 7.6%; Federal employees planning to retire in 2022 to take advantage of a big 2023 COLA increase may be in for an unpleasant surprise; How is the 2023 COLA calculated for both FERS and CSRS?
Rising Inflation Shows Value of Annual Cost-of-Living Adjustments - NARFE
Oct 12, 2023 · The COLA is calculated by comparing the change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) year to year, based on the average of the third-quarter months of July, August and September.