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



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.)

Go to last post Go to first unread
#1 Posted : Wednesday, October 13, 2021 5:30:37 AM(UTC)

Rank: Senior Member

Groups: Registered
Joined: 2/17/2013(UTC)
Posts: 471
United States
Location: USA

Thanks: 1 times
Was thanked: 22 time(s) in 20 post(s)
The CPI data for Sep 2021 was released this morning.
This is used to calculate the federal retirees (and Social Security) COLA starting in January 2022.
CSRS retirees (and Social Security) will receive a 5.9% increase. The highest in 40 years.
FERS retirees will receive a 4.9% increase.
#2 Posted : Sunday, October 17, 2021 5:34:26 PM(UTC)

Rank: Newbie

Groups: Registered
Joined: 10/16/2021(UTC)
Posts: 4
United States

Do the employees who retire this year get the increase in January?
#3 Posted : Monday, October 18, 2021 11:04:54 AM(UTC)

Rank: Senior Member

Groups: Registered
Joined: 1/13/2011(UTC)
Posts: 697

Was thanked: 134 time(s) in 108 post(s)
They get a prorated amount, depending on the month of retirement. For example, if the retirement date was September 1, you would have received the pension in only 3 of the 12 months prior to the December effective date of the increase, so would only get 3/12, or 1/4, of the COLA. This is for CSRS retirees and FERS retirees over age 62. If you are FERS and under age 62 there is no COLA.

Social Security COLAs are not prorated, so if you are also on SS the entire 5.9% will apply to the SS benefit.

Edited by user Monday, October 18, 2021 3:27:40 PM(UTC)  | Reason: added SS info

#4 Posted : Wednesday, October 20, 2021 10:33:27 AM(UTC)

Rank: Senior Member

Groups: Registered
Joined: 10/9/2011(UTC)
Posts: 2,889

Thanks: 350 times
Was thanked: 351 time(s) in 304 post(s)
Originally Posted by: Xerxes99 Go to Quoted Post
Do the employees who retire this year get the increase in January?

As you were just approved for Disability Retirement, if you are receiving 60% payments during your first year, you will not see any COLA payment until 2023

When is the Cost-of-Living Adjustment (COLA) paid? View less
Cost-of-Living Adjustments are effective each December first. The adjustment appears in your payment on the first business day of January, which is when your benefit for December is paid. Federal Employees Retirement System (FERS) and FERS Special Cost-of-Living Adjustments are not provided until age 62, except for disability, survivor benefits, and other special provision retirements. FERS disability retirees get the adjustment, except when they are receiving a disability annuity based on 60 percent of their high-3 average salary. Also, under FERS, if you have a CSRS component, the component is subject to the CSRS COLA calculation.
Rss Feed  Atom Feed
Users browsing this topic
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 0.308 seconds.