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Return to Article: The COLA Factor

• 58088
  

  I agree that the government is adjusting the rates so the seniors are forced to live in poverty. Someone in this country needs to realize we are retied not expendable. The people who were shoved into the FERS system so the HRO could meet their quotas really got hosed. our pension puts us right at the level that allows full taxation of our social security. If you try to work so you are not forced to choose between food and heat or water you are penalized even worse, SS takes (1) dollar for every (2) , then the year you turn full retirement age it's (1) for every (3) dollars you make not to mention you are paying SS on you wages at the same time, then at the end of the year they hit you with the $25,000.00 cap and tax you again. Boy what a great country. OH!! and if you nhave IRA's the IRS wants 25%of that if you try to use any of that money, sure am glad I worked and saved so I could help out the IRS while I do without.

  Glenna Maynard Posted September 9, 2008 4:32 PM
• 58027
  

  When you retire if you qualify for SS benefits and will get your pension under CSRS your Federal retirement pension is not reduced; however if you have less than 30 years under SS then you lose 5% per year up to 50% in the first band which I think for 2008 is $690 (a reduction of $345). What has never been clearly explained by SSA is whether or not if you pick up the years and eventually have 30 years under SS whether or not you regain the lost reduction.

  Kurt Andolsun Posted September 8, 2008 11:52 PM
• 57708
  

  It seems odd that the gas prices as well as other amenities have adjusted down recently with the CPI coming out soon and the announcement of the new COLA taking place in October. I am curious to see if these items will adjust up again once the COLA is announced for next yeasr and how much will still need to be offset in order to see a real improvement in the economy.

  April Watson Posted September 4, 2008 8:00 AM
• 57632
  

  I am 69 years old and would like to retire at the end of 2008. I am CSRS (Offset). Will I receive a COLA in 2009? When I retire my annunity will be cut $250. per month because I draw Social Security. My Social Security may be cut $250. because I draw a federal annuity (if I fall under the Windfall Act which I am told I will).

  Regarding your reference to Congress not receiving a COLA. I think they should all be fired. Thank you.

  Gloria Tscheiner Posted September 3, 2008 6:28 AM
• 57626
  

  It would be interesting to see an article about how FERS retirees are doing. With the TSP funds recently tanking and the lack of inflation protection on the micro FERS annuity, have any FERS employees actually been able to afford to retire?

  Jim Skiff Posted September 2, 2008 9:44 PM
• 57503
  

  Do transferees under FERS who were previously covered under CSRS and who retire when they are under age 62 receive any amount of COLA for the portion of their retirement calculated under CSRS?

  Joann Jones Posted August 29, 2008 11:25 AM
• 57480
  

  To help Americans Congress SHOULD NOT get a Cola this year; since it has already been shown this is the worst congress American history,by history buffs,educators and the U.S. tax-payer. What have they accomplished? Very little? What have they done-bring the economy to all-time low (Depression Years) and caused thousands of people to lose their homes and go bankrupt. They thought more of vacation than working out American problems. The bums!

  Russell Riley Posted August 29, 2008 8:05 AM
• 57479
  

  So if I understand the COLA correctly, if I retire under CSRS on January 3, 2009, am I correct in saying that I will not receive any COLA this year?

  Peggy Daniel Posted August 29, 2008 7:26 AM