Season’s Greetings from OPM Retirement Services
As you welcome in 2025, we would like you to know the following important information regarding your annuity:
Tag: cost-of-living adjustment
Social Security COLA to be 8.7% for 2023
Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 2021 through the third quarter of 2022, Social Security and Supplemental Security Income (SSI) beneficiaries will receive an 8.7 percent COLA for 2023. See 2023 Social Security Changes – Fact Sheet
APWU: Second COLA Increase Announced – $1.18 per hour for career employees
August 10, 2022 In accordance with the 2021-2024 Collective Bargaining Agreement, career employees represented by the APWU will receive a $1.18 per hour cost-of-living adjustment (COLA), effective August 27, 2022. The increase is the result of a rise in the Consumer Price Index (CPI-W). It will appear in paychecks dated September 16, 2022 (Pay Period…
NALC: Backpay and COLA update
August 18, 2021 Backpay and COLA update Most eligible city letter carriers will receive retroactive pay pursuant to the 2019-2023 National Agreement on their August 20 paychecks. Backpay for some former city carrier assistants that were converted to career status between November 23, 2019 and April 9, 2021 must be calculated manually, resulting in a…
APWU: Sixth COLA under 2018 CBA will be $1,935.00
In July, the final month of the six-month adjustment period for the sixth COLA under the 2018 Agreement, the CPI-W Unadjusted Index (1967=100) rose from last month to 797.661; an increase over the January 2021 index point upon which employees received the last COLA. As a result of the rise in index level, the following…
APWU: Fifth COLA under 2018 CBA will be $416.00
In January, the final month of the six-month adjustment period for the fifth COLA under the 2018 Agreement, the CPI-W Unadjusted Index (1967=100) rose from last month to 760.447; an increase over the July 2020 Index point upon which employees received the last COLA. As a result of the rise in index level, the following…
2021 FERS Cost Of Living Adjustment will be 1.3%
HOW THE COLA IS CALCULATED The 2021 FERS retiree COLA is based on the third quarter (July, August, September) average CPI-W index (1982-84=100) in 2020 over the 2019 third quarter average. However, if the CPI-W quarterly average increases 3% or more, they subtract 1%. For example, a 5% increase in the quarterly CPI-W average results…
Social Security Announces 1.3% Increase for 2021
Press Release – October 13, 2020 Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 1.3 percent in 2021, the Social Security Administration announced today. The 1.3 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2021. Increased payments…