Federal Managers Association
In the News
- COLA OUTPACING BENEFITS FOR FEDS - October 14, 2016
As Costs Go Up, Benefits Don’t Keep Pace
By Tammy Flanagan, Government Executive
You probably are already aware by now that health care premiums are rising next year, while pay increases and cost of living adjustments for 2017 are nothing to get excited about.
Retirees will know for sure after Oct. 18 how much COLAs for Civil Service Retirement System, Federal Employees Retirement System, military retirement and Social Security benefits will go up in January. That’s when the Bureau of Labor Statistics will release the Consumer Price Index for the month of September. According to a formula set in federal law, September is the final month needed to determine the retiree COLA. It is likely to be small, based on monthly price increases so far in 2016. According to the American Institute for Economic Research, the benefits will most likely rise between 0.2 percent and 0.5 percent in 2017.
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