Welcome Guest! To enable all features please Login or Register.

Notification

Icon
Error

Federal Retirees


For those approaching retirement as well as the currently already retired, here is a forum to share ideas and thoughts and exchange questions and answers.


To read today's top news stories on federal employee pay, benefits, retirement, job rights and other workplace issues visit FederalDaily.com.

To maximize your retirement, we also suggest you read "Retired Federal Employees Almanac".


(Reminder: soliciting of services is not allowed on this site.)

Options
Go to last post Go to first unread
johnsctt78  
#1 Posted : Friday, December 7, 2018 12:14:23 PM(UTC)
johnsctt78

Rank: Newbie

Groups: Registered
Joined: 9/18/2016(UTC)
Posts: 6
United States
Location: new york

Hello
I retired this past August. I'm getting fees and the fees suppliment. I turn 62 in March of 2019. Will I be eligible for the cost of living increase in Jan or in March when I turn 62
postalvet  
#2 Posted : Friday, December 7, 2018 1:30:15 PM(UTC)
Guest

Rank: Guest

Groups: Guests
Joined: 2/6/2014(UTC)
Posts: 33,037

Was thanked: 15 time(s) in 15 post(s)
Originally Posted by: johnsctt78 Go to Quoted Post
Hello
I retired this past August. I'm getting fees and the fees suppliment. I turn 62 in March of 2019. Will I be eligible for the cost of living increase in Jan or in March when I turn 62


march it will be proated
johnsctt78  
#3 Posted : Friday, December 7, 2018 1:34:58 PM(UTC)
johnsctt78

Rank: Newbie

Groups: Registered
Joined: 9/18/2016(UTC)
Posts: 6
United States
Location: new york

Thank you for the response sorry on my spelling. I meant fers instead of fees
Thanx again
Bureaucratic  
#4 Posted : Saturday, December 8, 2018 3:53:31 PM(UTC)
Bureaucratic

Rank: Member

Groups: Registered
Joined: 1/16/2014(UTC)
Posts: 29
Location: I could tell you, but then I'd have to...you know...

Thanks: 1 times
Was thanked: 4 time(s) in 4 post(s)
Originally Posted by: johnsctt78 Go to Quoted Post
Hello
I retired this past August. I'm getting fees and the fees suppliment. I turn 62 in March of 2019. Will I be eligible for the cost of living increase in Jan or in March when I turn 62


January 2020. Not prorated.

TheRealOrange  
#5 Posted : Monday, December 10, 2018 11:54:23 AM(UTC)
TheRealOrange

Rank: Senior Member

Groups: Registered
Joined: 5/22/2011(UTC)
Posts: 956

Thanks: 1 times
Was thanked: 184 time(s) in 162 post(s)
Originally Posted by: johnsctt78 Go to Quoted Post
Hello
I retired this past August. I'm getting fees and the fees suppliment. I turn 62 in March of 2019. Will I be eligible for the cost of living increase in Jan or in March when I turn 62

According to OPM, to get the full COLA, a retiree must have been in receipt of payment for a full year. If not, the increase is prorated. Prorated accounts receive one-twelfth of the increase for each month they received benefits. Cost-of-Living Adjustments were first prorated in April 1982. Also, FERS and FERS Special Cost-of-Living Adjustments are not provided until age 62, except for disability, survivor benefits, and other special provision retirements. That seems to indicate that you would be entitled to a prorated increase after turning age 62, but perhaps asking Ed Zurdorfer in the "Federal Employees Benefits Q&A" forum would be your best bet.

https://forum.federalsou...lt.aspx?g=topics&f=6

https://www.opm.gov/faqs...5-4bd2-bc0d-bdfd625da149
Bureaucratic  
#6 Posted : Monday, December 10, 2018 6:12:58 PM(UTC)
Bureaucratic

Rank: Member

Groups: Registered
Joined: 1/16/2014(UTC)
Posts: 29
Location: I could tell you, but then I'd have to...you know...

Thanks: 1 times
Was thanked: 4 time(s) in 4 post(s)
As he turns 62 in March 2019 his first cola will be received in January 2020. And as he has been receiving the FERS annuity since August 2018 the cola won't be prorated.
thanks 1 user thanked Bureaucratic for this useful post.
Samuel on 12/23/2018(UTC)
Funkyfed  
#7 Posted : Tuesday, December 11, 2018 3:35:11 AM(UTC)
Funkyfed

Rank: Member

Groups: Registered
Joined: 12/7/2014(UTC)
Posts: 9
United States

Yikes...just saw that my total 1/2/19 payment only went up by $2.36 ! Planning on calling OPM. Could this be some sort of end of year tax adjustment and not the COLA?
yode12  
#8 Posted : Monday, December 24, 2018 8:37:33 AM(UTC)

Rank: Senior Member

Groups: Registered
Joined: 7/25/2008(UTC)
Posts: 255

Was thanked: 4 time(s) in 2 post(s)
Can someone explain to me if we received a 2 percent increase and I was making 1531 and it only went to 1549 what kind of math is opm using?According to my calculations 1531 plus 2 percent equals 1561
postalvet  
#9 Posted : Monday, December 24, 2018 8:56:57 AM(UTC)
Guest

Rank: Guest

Groups: Guests
Joined: 2/6/2014(UTC)
Posts: 33,037

Was thanked: 15 time(s) in 15 post(s)
Originally Posted by: yode12 Go to Quoted Post
Can someone explain to me if we received a 2 percent increase and I was making 1531 and it only went to 1549 what kind of math is opm using?According to my calculations 1531 plus 2 percent equals 1561


withholding went up.
yode12  
#10 Posted : Thursday, December 27, 2018 8:46:43 AM(UTC)

Rank: Senior Member

Groups: Registered
Joined: 7/25/2008(UTC)
Posts: 255

Was thanked: 4 time(s) in 2 post(s)
I only started any withholding in Jan 2019 for taxes.I had nothing withheld in 2018.
kaljor  
#11 Posted : Monday, December 31, 2018 10:44:01 PM(UTC)

Rank: Groupie

Groups: Registered
Joined: 5/8/2009(UTC)
Posts: 90

Thanks: 4 times
Was thanked: 7 time(s) in 4 post(s)
Originally Posted by: yode12 Go to Quoted Post
Can someone explain to me if we received a 2 percent increase and I was making 1531 and it only went to 1549 what kind of math is opm using?According to my calculations 1531 plus 2 percent equals 1561


My math agrees with yours. I assume you will contact OPM, and I hope you will post back here with the results.

GoHuskers  
#12 Posted : Tuesday, January 1, 2019 1:08:56 PM(UTC)

Rank: Senior Member

Groups: Registered
Joined: 1/13/2011(UTC)
Posts: 696

Was thanked: 134 time(s) in 108 post(s)
yode12 - Is it possible you were only due a prorated portion of the COLA, as explained by TheRealOrange in his post above?
yode12  
#13 Posted : Wednesday, January 2, 2019 6:40:45 AM(UTC)

Rank: Senior Member

Groups: Registered
Joined: 7/25/2008(UTC)
Posts: 255

Was thanked: 4 time(s) in 2 post(s)
I was wondering about that prorated stuff.I retired April 30 of 2018.When would I get the full 2 perfcent? I send opm an email but they haven't replied back to me.
GoHuskers  
#14 Posted : Wednesday, January 2, 2019 1:46:23 PM(UTC)

Rank: Senior Member

Groups: Registered
Joined: 1/13/2011(UTC)
Posts: 696

Was thanked: 134 time(s) in 108 post(s)
With that retirement date, you'd only get 7/12 of the 2% COLA since you were only retired for 7 of the 12 months of the COLA period. My quick math says that would equal right around a 17 or 18 dollar increase. You'll never actually get the full 2% from this COLA but will get the full amount of whatever the next COLA is.
yode12  
#15 Posted : Wednesday, January 2, 2019 4:20:56 PM(UTC)

Rank: Senior Member

Groups: Registered
Joined: 7/25/2008(UTC)
Posts: 255

Was thanked: 4 time(s) in 2 post(s)
Well they treat retired people different than current employees.
postalvet  
#16 Posted : Wednesday, January 2, 2019 6:37:18 PM(UTC)
Guest

Rank: Guest

Groups: Guests
Joined: 2/6/2014(UTC)
Posts: 33,037

Was thanked: 15 time(s) in 15 post(s)
Originally Posted by: yode12 Go to Quoted Post
Well they treat retired people different than current employees.


how do you figure?
yode12  
#17 Posted : Friday, January 4, 2019 8:03:32 AM(UTC)

Rank: Senior Member

Groups: Registered
Joined: 7/25/2008(UTC)
Posts: 255

Was thanked: 4 time(s) in 2 post(s)
Cause of this prorated stuff.I always got whatever percentage of increase.Exaample {when I got a t-6 it didn't reduce my percentage of pay increase even though I mswitched over in June)
The HalfBreed  
#18 Posted : Sunday, January 13, 2019 9:25:49 PM(UTC)

Rank: Senior Member

Groups: Registered
Joined: 3/30/2008(UTC)
Posts: 2,656

Thanks: 12 times
Was thanked: 35 time(s) in 29 post(s)
Originally Posted by: yode12 Go to Quoted Post
Cause of this prorated stuff.I always got whatever percentage of increase.Exaample {when I got a t-6 it didn't reduce my percentage of pay increase even though I mswitched over in June)


I hope you're not confusing a retirees' COLA with a presidential pay raise. Are you ???
RETIRED CSRS 12/19/2012 @ age 57 w/39 years.
Good Bye Tension...Hello Pension !
postalvet  
#19 Posted : Monday, January 14, 2019 9:03:07 AM(UTC)
Guest

Rank: Guest

Groups: Guests
Joined: 2/6/2014(UTC)
Posts: 33,037

Was thanked: 15 time(s) in 15 post(s)
Originally Posted by: yode12 Go to Quoted Post
Cause of this prorated stuff.I always got whatever percentage of increase.Exaample {when I got a t-6 it didn't reduce my percentage of pay increase even though I mswitched over in June)


it was prorated, you just did not notice it.
Rss Feed  Atom Feed
Users browsing this topic
Guest
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.


This page was generated in 0.679 seconds.