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Bill would change COLA formula

A new bill will re-evaluate how federal employees will be able to calculate their cost of living adjustments.

A new bill will re-evaluate how federal employees will be able to calculate their cost of living adjustments, Federal Times reports.

According to the report, federal retirees have had to watch COLA rates closely  because it determines how much they are able to offset the costs of Medicare benefits, but a new proposal would end that cliffhanger by shifting the COLA from one Consumer Price Index to another. 

In late February, Rep. John Garamendi (D-Calif.) introduced the CPI-E Act of 2017, which changes the formula used to calculate the COLA rates from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) to the CPI for the elderly, or CPI-E, the article notes, a move that will reflect the real costs that seniors endure, like prescriptions, medical services and in-home care when calculation the COLA.

Reader comments

Tue, Mar 7, 2017 COS

CPI-E is absolutely needed!

Our retirement FEHB monthly cost for 2 people went from $500+ to $800+ in 3 yrs.!!! self +1! OMG!

Tue, Mar 7, 2017

Rev Woody was probably referring to illegal immigrants in the USA who find ways to obtain benefits such as food stamps, housing subsidies, medical care, utilities assistance, etc etc!! All on the taxpayer dollar!!

Mon, Mar 6, 2017 JRCABQ

Don't know what Rev Woody is talking about "illegal" as this article has nothing to do with that BUT, YES YES YES. The CPI-E is better aligned to reflect the COLA's that best meet the needs/ lifestyle of retired/ seniors. Support Rep. John Garamendi bill.

Mon, Mar 6, 2017 Mark

Uh... There is no such thing as an Illegal retired Federal Employee. Citizenship is a requirement of Federal Employment!

Mon, Mar 6, 2017 Rev Woody PA

Any numbers can be manipulated to substantiate a desired political agenda. Stop! The elderly are enduring an attack on their lifestyle while illegal in NY City are getting an average of $3000 per month per person ( a gov study a few years back GAO, OPM,,) ...For your information that would mean an illegal couple in NYC gets more than a many working couples in living area. ...also more an many retired couple work a lifetime for.

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