Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Retired Federal employees will see a bump of 8.7% Cost of Living Adjustment in 2023. Due to soaring inflation, the Social Security Administration also announced the similar bump for all recipients of 8.7%.
The article also said surging medical expenses unfairly impact older Americans so the large bump in pay will help but still not solve the actual inflation crisis. The article did not say how many more billions it would cost for the increase or where the extra funding will originate.
understand what this means tho....under OLD expired, no longer in use, cant get it, shucks and darn rules, feds that retired previously (a few still left) are on a plan called FERS which they get INSTEAD of SS. cuz of that, an increase to SS reflects to them. Feds who use CSRS get no such bump. and many of their thift plans are down 20-50% this year alone.
and I got $5 here that says that 8.7 is whittled down drastically when the budget eventually does pass, which if the house turns - and it will - will not happen at all, and we will be on a CR an NO ONE gets an increase.
An in depth read. Aligned into paragraphs of interest. Explains areas of program and solvency issues. Source congressional research service (one of the best).
lol. It is kind of funny how we have been tormented by Social Security's potential insolvency since Reagan in the 1980s, but then we printed $6 trillion dollars in one year from thin air for Covid stimulus, and nobody batted an eye.
They’ve probably never worked…yet it’s funny how they promote free stuff, free rent, etc…, especially when Sleepy Joe extended free stuff, added money to it, extended free rent, etc…, and then tried to extend it again with sOOO many jobs available. The hypocrisy never fails to runneth over.
Retired Federal employees will see a bump of 8.7% Cost of Living Adjustment in 2023. Due to soaring inflation, the Social Security Administration also announced the similar bump for all recipients of 8.7%.
The article also said surging medical expenses unfairly impact older Americans so the large bump in pay will help but still not solve the actual inflation crisis. The article did not say how many more billions it would cost for the increase or where the extra funding will originate.
This is great news! Retired Federal worked hard for their annuities!
i was happy to see it, although it really is not keeping up with inflation. Happy until my lease renewal came up the day after it was announced and found my place is increasing rent so i am actually 2 bucks behind. Life likes to mess with you that way sometimes. It was almost funny with me ending up 2 dollars less per month because of rent increase. . Just need home price to fall since i am waiting to buy and i hate paying rent just because of things like this.
Lol. You must be unaware that working folks paid into what they’re getting. Working folks deserve and know this.
We understand social security is a Ponzi scheme, we just hope the program still is giving when we get there. Most likely is an increase in the amount pulled (taken) from the current workforce along with printing more and more money. So in 10+ years, workers annual max will be $50k into social security coffers; a type of second tax or third tax if you count Medicare, and FICA. And those that receive social security in 2032 will be receiving $7,800 monthly. Anybody not working, wins.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
