Lakedog
Full time employment: Posting here.
- Joined
- May 23, 2007
- Messages
- 985
I get my first federal pension COLA in 2019 and just realized that it will be 2%. The diet COLA formula for FERS is that if inflation is between 2 and 3%, the COLA is rounded down to 2%. Below 2%, the COLA would be the same as inflation. So pension is already eroding.
Not sure if any of your time was under CSRS (if maybe you switched to FERS voluntarily), but that figures into the COLA based on the % of your pension that resulted from CSRS. I retired under FERS but 75% of my pension was from CSRS time so in my case the upcoming COLA will be around 2.6%.