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Federal Retirees to See First COLA Increase in Two Years

Friday, October 21, 2011

(National Federation of Federal Employees)

For the first time in two years, our nation’s 1.9 million retired civil service employees will receive a cost of living adjustment. Consistent with the release of September’s Consumer Price Index figures, most federal retirees will receive a COLA of 3.6%.

 

After two years of deflationary pressure resulting from the recession, Civil Service Retirement System (CSRS) and Federal Employees Retirement System (FERS) annuitants will see their first COLA adjustment since 2009. CSRS annuitants, who make up roughly 80% of the civil service retiree community, will receive the full 3.6% adjustment while FERS annuitants can expect an adjustment of 2.6%.

 

According to a recent Congressional Research Service report cited in Eric Yoder’s recent Washington Post column, the average monthly benefit for CSRS and FERS annuitants stands at $2,899 and $1,051, respectively. Effective on January 1, 2012 the average CSRS annuitant will receive a $104 monthly increase and FERS annuitants will see $27 increase to monthly payouts.

 

“It’s about time federal retirees got the COLA adjustment they deserve,” said NFEE Legislative Director Randy Erwin. “This was long overdue.”

 

Comments

Larry Grafton   10/25/11 10:04 am
I am thinking about retireing from the USDA Forest Service in about 3 years. After almost 39 years with the Forest Service and 4 years with the US Navy. I feel that it is an Honer to serve my country. The benifets that I do have now, I have worked very hard for and it would be a terable shame if Congress would take them away from me.

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