[vc_row][vc_column width=”2/3″ el_class=”section section1″][vc_column_text]COLA for retirees is most likely going to exceed the pay increases of employees that are actively working in the coming January of 2019. Some employees that are eligible for retirement are considering early retirement as they are hoping to benefit from the former rather than the latter.
The CSRS COLA percent is 2.8, and FERS COLA is 2 percent. This is for individuals that are not yet 62, with the exception of disability retirees, retired law enforcement officers, and firefighter or air traffic controllers that are eligible for COLAs. FERS survivor benefits from COLAs payments regardless of their age.
For every month that an individual was not on the retirement roll, their COLAs are lowered by 8.3 percent. Even after going through early retirement, a person that is still employed will get a small part of the upcoming COLA.
- Also Read: 4 Signs That Taking Early Retirement Might Not Be the Right Move for You
- Also Read: Why the FERS Supplement Remains One of the Best-Kept Secrets in Federal Retirement
- Also Read: How Roth IRA Impacts Your Retirement Planning: Find Out Here
Benefits of social security are raised in full COLA no matter how long an individual has been withdrawing their benefits.[/vc_column_text][/vc_column][vc_column width=”1/3″][vc_single_image image=”35741″ img_size=”292×285″ style=”vc_box_shadow”][/vc_column][/vc_row]