Cola 2024 Government Employees. Actual 2024 federal pay raises for civilian employees will range from 4.7% to 5.7%, depending on where they work. It is managed by the social security administration, part of the federal government.
Some retirees are going to be disappointed with the 2024 increase. Here is how the cola calculation works.
Not All Federal Retirees Will Receive The Same Cola.
For the year 2024, annuitants who retired under csrs will receive 3.2 percent increase and those who retired under fers will receive a 2.2 percent increase.
What Is The Cola For 2024?
In 2022, the cola was.
The 2024 Cola Was Announced On October 12, 2023.
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For The Year 2024, Annuitants Who Retired Under Csrs Will Receive 3.2 Percent Increase And Those Who Retired Under Fers Will Receive A 2.2 Percent Increase.
Actual 2024 federal pay raises for civilian employees will range from 4.7% to 5.7%, depending on where they work.
The Cost Of Living Adjustment (Cola) In January 2024 Will Be 3.2%.
This is substantially less than the 8.7% cola awarded in 2023.