Federal Retirees to Receive a 0.3 Percent Cost-of-Living Bump in 2017 (by Amelia Gruber)
Federal retirees will receive a cost-of-living adjustment of 0.3 percent next year, according to figures released by the Bureau of Labor Statistics on Tuesday.
The small increase is an improvement over this year, when retirees did not receive any boost. But it was disappointing to federal retiree advocates, who noted it does not keep pace with jumps in health care costs.
Average premiums for participants in the Federal Employees Health Benefits Program are slated to rise 6.2 percent in 2017, the Office of Personnel Management announced late last month. Federal retirees in the Civil Service Retirement System could also see a significant increase in their Medicare Part B premiums unless Congress acts, the National Active and Retired Federal Employees Association warned.
