COLA Announced: Federal Retirement Annuities Will Rise in 2012

Federal retirees will receive a cost-of-living adjustment (COLA) to their civil service annuities beginning in January 2012. Retirees in the Civil Service Retirement System (CSRS) will receive a 3.6 percent increase to their annuities, while retirees in the Federal Employee Retirement System (FERS) will receive a 2.6 percent increase to their annuities. To trigger a […]

OPM: Retirees Fed Tax Withholding Increases, Annuity Check Decreases In 2011

The Office Of Personnel Management issued the following anouncements: Annuitant Federal Tax Withholding Increase On December 16, 2010, Congress elected not to extend the “Making Work Pay” credit. The “Making Work Pay” credit, part of the 2009 Stimulus Package, expired on December 31, 2010. This could mean higher federal tax withholding amounts in monthly annuities […]