Federal Retirees Get 5.8% Pension COLA

Retirees in two Federal pension systems will receive increases of 4.8 and 5.8 percent in cost-of-living-adjustments, which one union hailed as the largest adjustments since 1982.

Those in the Civil Service Retirement System will receive a 5.8-percent COLA, and those in the Federal Employees Retirement System, which includes employees hired in 1984 or later, will get a 4.8-percent increase in retirement earnings.

'Welcome Relief'

"These increases of 4.8 and 5.8 percent are a small bit of welcome relief for retired Federal workers who contributed so much to our nation," National Treasury Employees Union President Colleen M. Kelley said in a statement. "The COLA increase for retirees is critical. At the same time, NTEU is pursuing other changes that will also have a positive impact on their retirement income."

The union said that the findings of the Consumer Price Index for Urban Wage Earners and Clerical Workers showed a substantial increase in the cost of living, thus inspiring the adjustments.