Inflation: The Destruction of the FERS Retiree

Article Title: Is 2022 the start of big time inflation?

Article Excerpt: "...Almost all current federal workers, plus a growing number of new retirees, are under the FERS program. There is a permanent battle between FERS (with its generous 5% employer match to the TSP and Social Security coverage) and CSRS retirees who start off with much higher annuities (which they help finance) than FERS retirees. The fly in the ointment for FERS employees is their diet-COLA system. Under it, FERS retirees get the same COLA as CSRS retirees UNTIL it exceeds 2%. So for example if a CSRS Social Security COLA is 6%, FERS retirees would get 5%. Imagine the impact on a FERS annuity over a period of extended inflation What if, as some experts project, we are entering a period of high inflation? One that lasts for years. It’s happened before. Some say it may already be happening again. ..."

Reference Source: federalnewsnetwork.com

The forgotten aging population. If you have already served your purpose you are useless in the eyes of the Biden administration. Postal service, federal retirees and everyone on social security left out of Biden monetary increases as inflation takes a heavy toll and erodes what little they have to survive on.

Biden to propose 4.6 percent pay raise for federal employees, the biggest hike in 20 years

'...WASHINGTON — Federal employees and military service members would receive average raises of 4.6 percent next January under...'

Reference: www.msn.com
Tags: The forgotten many, Social Security, Destruction of the elderly, Creating more inflation,

Why claiming Social Security online could be the easiest approach for retirees

Title: Why claiming Social Security online could be the easiest approach for retirees

Article Snip: "...recent data from the Center for Retirement Research shows many Americans are passing up the simplest approach to claiming Social Security benefits and are needlessly complicating their efforts. The data revealed that just about half of all retirees are filing for their benefits online, a number that has held steady since 2013...."

Reference: tulsaworld.com

Are Social Security Recipients Being Cheated Out of Nearly $5,000?

Title: Are Social Security Recipients Being Cheated Out of Nearly $5,000?

Article Snip: "...Social Security benefits are not keeping up with inflation. ...despite the massive COLA raise in 2022, retired workers will keep losing out due to the decline of purchasing power in today's red-hot high inflationary environment. “To put it in perspective, for every $100 worth of groceries a retiree could afford in 2000, they can only buy $68 worth today,” Mary Johnson, the Social Security policy analyst for The Senior Citizens League (TSCL), said in a statement..."

Reference: nationalinterest.org