Federal retirees who have grown accustomed to cost-of-living adjustments each and every January are in for a rude awakening when they get their first benefit payment in 2010. So what’s likely to happen?
Nothing. That is, no increase at all. A no-cal COLA!
Monthly payments to the millions under Social Security, federal civil service or military retirement plans will be the same next year as they are right now. However, to add insult to injury, the actual after-deductions benefit for many federal civil service retirees and their survivors will drop. That’s because health insurance premiums for federal and postal retirees (along with those for workers still on the job) will be going up next year.
full story: Mike Causey via Washington Times