The 2.8 percent cost of living adjustment coming this January for millions of retirees will be the biggest catch-up-with-inflation increase in years.
Rep. Alan Grayson (D-Fla.) introduced a bill that would give a 2.9 percent cost-of-living adjustment to federal retirees and those receiving Social Security benefits in 2016.
With two months to go in the COLA countdown for January 2016, it appears unlikely retirees will get any adjustment next year. The CPI-W will be announced later this month, but all indications say there won’t be a COLA in January, says Senior Correspondent Mike Causey.
The National Active and Retired Federal Employees Association, the Military Officers Association of America, the American Foreign Service Association and others rally against any potential or real proposals to change how the government calculates cost of living adjustments. The groups propose using the CPI-E formula to measure the impact of inflation on retirees, veterans and others.