How is COLA calculated APWU?

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How the COLA is Calculated. The 2023 FERS retiree COLA is based on the third quarter (July, August, September) average CPI-W index (1982-84=100) in 2022 over the 2021 third quarter average. However, if the CPI-W quarterly average increases 3% or more, they subtract 1%.

Does USPS pension get COLA?

The FERS program began operating on January 1, 1987. From the third quarter of 2020 (the current base year) to the third quarter of 2021, the CPI-W increased by 5.9%. Therefore, paid out beginning January 2022, the CSRS COLA is 5.9% and the FERS COLA is 4.9%.

What will the COLA be for 2021 USPS?

The $1,310 will be the third highest COLA increase received in APWU’s history. However, this COLA will only go into effect if the 2021-2024 National Agreement is ratified. This would be first of six COLAs career employees will receive under a ratified 2021-2024 National Agreement.

How much is USPS COLA?

January was the final month of the six-month measuring period used for determining the cost of living allowance (COLA) for those covered by the National Agreement. Every full-time career employee in every step and grade will receive an annual increase of $1,310 or 63 cents per hour.

How does COLA work USPS?

A COLA benefit is a periodic adjustment of pay rates based on changes to the consumer price index. An effective COLA package keeps the buying power of a given wage in line with inflation. COLAs are generally a job perk or feature of a collective bargaining agreement or government payments such as Social Security.

What is the COLA for postal retirees?

After the first quarter of 2022, the second quarter for the 2023 COLA adjustment period, the quarterly average has increased by 4.1%….Past CSRS COLA Adjustments.

Year	CSRS COLA
2020	1.6%
2019	2.8%
2018	2.0%
2017	0.3%

Will retired federal employees get a COLA in 2021?

And for people who get Social Security or military retired pay. Both groups, CSRS and FERS retirees, get the same amount if the COLA is 2% or less. But if inflation exceeds that, the FERS retirees get one percentage point less….Giant COLA: Mixed blessing!

Year	CSRS	FERS
2021	1.3	1.3
2020	1.6	1.6
2019	2.8	2.0
2018	2.0	2.0

How much is USPS COLA 2021?

IF YOU VOTE YES ON CONTRACT RATIFICATION! Every full-time career employee in every step and grade will receive an annual increase of $1,310 or 63 cents per hour.