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someoldguy  
#1 Posted : Thursday, February 21, 2019 2:03:32 PM(UTC)
someoldguy

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Couple articles out there today about legislation introduced to get rid of the reduced COLA that is part of FERS. Some call it "Diet COLA."

That is, FERS retirees do not get the full cost of living adjustment that CSRS and military retirees get.

But I thought it was capped at 2%. Actually, if the COLA index is higher than 3, then the Diet COLA can go above 2%... but not all the way up. I did not know this.

So if the full COLA is 2% or less, FERS gets the full COLA
From 2 to 3 percent, FERS is stuck at 2%.
But if it goes over 3, then FERS gets the index minus 1, eg, a 3.1% full COLA gets FERS retirees 2.1%

Do I have this right? Its not a full COLA but its better than the COLA on my pension from a private employer (ie, zero... assuming it is still there when I am ready to start collecting).

DISCLAIMER: You read it on an open internet forum :)
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