2024 Cola Increase For Federal Employees. The 8.7/7.7 cola for federal retirees at the start of this year was the largest since 1982; Millions of federal employees will receive an average 5.2% pay raise effective january, thanks to an executive order issued by the president on thursday.
The cost of living adjustment (cola) in january 2024 will be. For the year 2024, annuitants who retired under csrs will receive 3.2 percent increase and those who retired under fers will receive a 2.2 percent increase.
As Expected, Most General Schedule Employees Will Receive An Average Of A 5.2% Boost To Their Pay, Which Will Take Effect In The First Full Pay Period In January.
The 2024 cola was recently announced.
Biden Made Plans For The 5.2% Raise Official In August, After First Including It In The Fiscal 2024.
How is the 2024 cola calculated?
Not All Federal Retirees Will Receive The Same Cola.
Images References :
Press Release December 21, 2023.
How is the 2024 cola calculated?
Biden Signs Order Finalizing 5.2% Pay Raise For Feds In 2024 The Measure Confirms That The Federal Workforce Will See Its Largest Pay Increase In More Than 40 Years.
$18,298 + $88,520 = $106,818.
Other General Schedule Employees Covered By This Table Whose Pay Rate At Their Grade And Step On This Table Is Below The Rate For The Same Grade And Step On An Applicable.