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Lawmakers introduce bill to adjust retiree COLA for 2016

from Federal News Radio

Rep. Tammy Duckworth, D-Ill., has joined forces with Sen. Elizabeth Warren, D-Mass., on a bill that would give federal and military retirees a one-time cost-of-living adjustment in 2016 equal to a 3.9 percent increase for most recipients. "The Social Security Administration announced in October that federal and military retirees would receive no COLA in 2016, at a time when Medicare costs were expected to rise. "It would be only the third time in 40 years the federal government would not pay out a COLA." more

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