Federal workers are in line for a pay raise in January. Federal retirees are not. How come? Senior Correspondent Mike Causey says deflation is the reason.
It could be a long time before federal workers see another January pay raise. But for retirees, things are looking up.
Why are so many long-time feds and retirees longing for the good old days? Senior Correspondent Mike Causey says it was a time of double-digit cost-of-living adjustments.
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.
The amount of money the White House is proposing to cut from federal workers’ take-home pay and the future inflation protection benefits for retirees closely mirrors the balance of the F, I and S funds in the Thrift Savings Plan as of Dec 31.
When most people focus on millionaires in government they are talking about a relatively small number of super-rich political appointees. But there is a larger group who did it by saving and investing in the Thrift Savings Plan.