A proposal to reduce federal retirement annuities and Social Security benefits by switching from the CPI-W to the chained CPI for purposes of determining cost-of-living adjustments (COLAs) has received serious consideration in budget negotiations between the White House and congressional leaders.
Lower COLAs would hurt seniors, who are already facing increasing medical costs, which even the current method does not adequately weigh. For all the technical jargon that is thrown around Washington to justify the proposal, in the end, it amounts to a cut in the benefits federal workers earned over the course of their careers.
Use NARFE’s calculator to estimate how the proposal would reduce your earned federal annuity. After finding out, follow the link and send a message to your representative and senators, urging them to reject reducing your earned benefits.