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A new bill has been introduced in Congress that would increase the annual cost of living adjustment (COLA) for retired federal employees under the Federal Employees Retirement System (FERS) in some...
"Congressional passage of the bill is a historic victory for the National Active and Retired Federal Employees Association, which has been advocating for repeal of WEP and GPO for 40 years. It ...
The increase is the largest since 1981, when the COLA was 11.2%, and raises the average retiree benefit by more than $140 per month starting in January, according to the Social Security ...
Social Security recipients will be getting their biggest payment increase in 40 years in 2022 thanks to a 5.9% cost-of-living adjustment, pushing the average monthly benefit up to $1,657 for ...
In 1921, 14 retired federal government workers met to form an association to protect the hard-earned retirement benefits of federal civilian employees, retirees, and their survivors in the organization that would become NARFE, [3] but not for everyone. In the first two months after the Civil Service Retirement Act took effect in 1921, more than ...
Federal Employees Retirement System - covers approximately 2.44 million full-time civilian employees (as of Dec 2005). [2]Retired pay for U.S. Armed Forces retirees is, strictly speaking, not a pension but instead is a form of retainer pay. U.S. military retirees do not vest into a retirement system while they are on active duty; eligibility for non-disability retired pay is solely based upon ...
As Barron’s reported, The Senior Citizens League (TSCL) published a Dec. 13 report that showed the 2022 COLA of 5.9% “fell short of actual inflation every month” from January to December by ...
The most direct and obvious effect of the new COLA is the increase in monthly benefits. If your monthly Social Security benefit is $1,000 this year, it will be $1,025 starting in January 2025. If ...