News from NARFE:
In response to Rep. Gerry Connolly, D-VA, introducing the Equal COLA Act – legislation that would provide retirees of the Federal Employees Retirement System (FERS) with cost-of-living adjustments (COLAs) to their annuities equal to the increase in consumer prices (as measured by the CPI-W from the relevant period) when the change is greater than 2 percent .
“Pursuant to federal law and the annual change in consumer prices measured by the Bureau of Labor Statistics (BLS), the COLA to Civil Service Retirement System (CSRS) annuities and Social Security benefits will be 2.8 percent in 2019. Unfortunately, it will be only 2 percent for FERS annuities.
“Nearly 800,000 FERS retirees are wondering why they are only receiving a 2 percent COLA when consumer prices increased by 2.8 percent. The unsatisfying answer dates back to when FERS was created in the 1980s and a bargain was struck in Congress that limited the FERS COLA to 2 percent when consumer prices increase between 2 and 3 percent. That was the wrong policy then, as it is now, because it prevents FERS annuities from keeping up with inflation, which is the whole point of a COLA.”
Members are encouraged to contact their members of Congress and ask for their support of this bill.
Reported from the 2018 state convention
Drew Martin, Eastern Area UPMA Vice-President was with us for the full convention. His primary presentation was the comparison of Postal bills HR 756 and S
Of particular interest to retirees in both these bills is the Medicare Integration segment.
Only Medicare-eligible retirees (65 and older) will be integrated, 80% of whom already participate in Medicare.
Retirees and all postal employees would get a 9% discount on FEHBP and there would be a Medicare Part B premium reimbursement.
Retirees, this would mean virtually NO out-of-pocket costs. A plus for us! Keep watch as this comes up in November.
Dates to remember: Legislative Summit. January 28 - 29, 2019. Renaissance Arlington Capital View Hotel.
Make your concerns known.