Inflation Still High: Impact on 2024 COLA Predictions
2024 COLA predictions for federal retirees and Social Security recipients suggest it will be considerably less than the 8.7% rate from last year.
2024 COLA predictions for federal retirees and Social Security recipients suggest it will be considerably less than the 8.7% rate from last year.
In the midst of financial turmoil, the February inflation rate has been released. Inflation is still a problem but the impact of the turmoil remains to be seen.
Federal employees must understand how to utilize all the parts of their retirement benefits to maximize their retirement income.
The 2023 inflation rate will impact next year’s COLA and TSP balances. Here is the latest information on 2023 inflation and the 2024 COLA.
Inflation has been rising as have interest rates. How can this impact your retirement?
Legislation has been introduced to set the 2024 federal pay raise for federal employees at 8.7%.
Changes on tap for 2023 offer federal employees an incentive to save more towards retirement.
The 2022 inflation rate was 6.5% at the end of the year. The COLA for 2023 was 8.7%. What is likely to happen with the 2024 COLA?
While the anticipated 2023 federal pay raise is 4.6%, on average, inflation has slowed to an annual increase of 7.1%.
The 2022 FEVS results indicate that federal employees are becoming increasingly dissatisfied with their pay.