After a year without a cost-of-living adjustment, federal and Social Security retirees may experience a slight pulse in the inflation catchup pipeline, says Senior Correspondent Mike Causey.
Trick question: Who’s going to get the biggest pay raise next year: active-duty federal workers or federal retirees and folks who get Social Security?
When it comes to the latest proposed pay raise, Senior Correspondent Mike Causey wonders if federal workers are ingrates or just in shock.
Senior Correspondent Mike Causey says federal and Social Security retirees may be in for a cost-of-living adjustment that’ll trump January’s proposed 1.9 percent pay raise for federal workers.
Proposed changes to the federal retirement system could force current federal employees to delay retirements and spark financial hardship for current retirees. Federal financial experts discuss these proposals, which President Donald Trump included in his full fiscal 2018 budget request.
Senior Correspondent Mike Causey says the greatest fear of retirees who don’t get a pension from work or an inflation adjustment is running out of money.
Trimming or eliminating the cost-of-living adjustments for 2.6 million federal retirees would be a major financial blow to communities where they live, which is just about most places, says Senior Correspondent Mike Causey.
One of the best things about retiring from the government is that pensions are inflation-protected for life, but the Trump administration wants to eliminate cost-of-living adjustments for one group of retirees and trim future inflation catch-ups for others.
If you get Social Security, or civil service or military retirement benefits, Senior Correspondent Mike Causey says you may be on the road to the biggest inflation-catchup in years.
About 100 House Democrats wrote to Speaker Paul Ryan (R-Wis.) and Minority Leader Nancy Pelosi (D-Calif.), voicing their opposition over the president’s four major proposed changes to federal retirement. The administration included the proposals in the fiscal 2018 budget proposal and would have a significant impact on both current and future federal employees and retirees.