Fed retirees get 2 percent COLA in 2018

Federal retirees will get a 2 percent cost-of-living adjustment for 2018, which is in accordance with the latest consumer price data released by the Bureau of Labor Statistics.

However, with no and/or low COLAs given to retirees the last two years, National Active and Retired Federal Employees Association said the increase is not good enough, and further noted that Social Security needs to update its formula for calculating growing living expenses.

“Unfortunately, the 2.0 percent COLA provides only partial relief and serves as a reminder that our method for calculating the increasing cost of goods and services is out of sync with the reality faced by federal annuitants, Social Security recipients and military retirees," NARFE President Richard Thissen said in a statement.

“Our nation’s seniors spend more than twice as much on medical care than the population measured by the current formula to calculate COLAs, the CPI-W. Congress must act to implement a new formula that adequately measures costs incurred by seniors,” he added.

Thissen suggested that Congress require use of the Consumer Price Index for the elderly as the measurement for setting COLA.

Reader comments

Wed, Oct 18, 2017

I'm very glad to see the increase, but unfortunately, it's not enough. It is really sad that insurance premiums have increased so much that some retirees are getting a lower annuity than originally planned. I'm 60 with 36 years of Federal Service and I'm afraid to retire! I should be able to plan on a set annuity with NO reductions, which includes premium increases for ANY type of health insurance. Why are we always taking care of our Congress, Senate, etc., and forgetting about our Federal (civil service and military) retirees and Veterans! This is why there should be Term Limits in Congress and Senate!

Tue, Oct 17, 2017

It wouldn't matter if it were a 10% cola, the first feeders at the trough are the medical ins. and big pharma raising rates. Can you hear me wet shot johnny? Fix that instead of bashing the POTUS.

Mon, Oct 16, 2017 Wally Hass

Congress doesn't care about our Medical Expenses, they are fully covered with the Best Health Insurance available and get a Full Salary Pension for Life. They should get the same Health Care that we get. We need to vote out all Incumbants and get new blood in Congress.

Mon, Oct 16, 2017 MJV. Northcarolina

I agree with Mr. Thissen to the fullest. I have received.03% increase over a six yr. period since 2011. receiving 90.00 lessof my annuity since 2011 because of medical ins. increaseslet alone cost of inflation. Keep it up. and thank You NARFE

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