Retirees Can Expect Bigger Checks and Higher Health Care Premiums
Most government retirees will get a 2.7 percent increase in their monthly checks next year, their largest cost-of-living adjustment since 2001.</br></br>The COLA will go to retirees covered by the Civil Service Retirement System and those who receive military and Foreign Service annuities.</br></br>People who retired under the newer Federal Employees Retirement System and who are 62 or older will receive a 2 percent increase, under the rules for that program.</br></br>The COLA for this year should help most federal retirees cope with rising costs, although lower-income retirees could see much of their increase eaten up by higher health care costs.</br></br>Premiums next year are scheduled to rise 7.9 percent in the Federal Employees Health Benefits Program and Medicare premiums for doctor visits will jump 17.5 percent, the largest increase for that program in 15 years.