Cola Increase 2024 For Government Employees Increase

Cola Increase 2024 For Government Employees Increase. Now that the final data have been announced on the inflation rate for the third quarter of 2023, we know the 2024 cost of living adjustment (cola) for federal. On december 21 st, 2023, president joe biden signed an executive order finalizing his 2024 pay raise for federal employees.

Federal retirees enrolled in the civil service retirement system will receive a 2.5% increase to their annuities in january, but former feds who are part of the newer. On average, social security retirement benefits will increase by more than $50 per month starting in january.