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How to Calculate Your 2012 COLA Payment
Fedsmith ^ | October 21, 2011 | Ian Smith

Posted on 10/21/2011 8:22:39 AM PDT by Poundstone

On October 19, a 3.6% COLA was announced for employees under the Civil Service Retirement System (CSRS) who have had benefits for at least one year. Employees under the Federal Employees Retirement System (FERS) will get a 2.6% COLA if they have had benefits for at least one year. OPM has issued official guidelines for how this will be applied to federal retirees.

(Excerpt) Read more at fedsmith.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: dsj; employees; federal; government; retirement

1 posted on 10/21/2011 8:22:45 AM PDT by Poundstone
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To: Poundstone

This is good news for fellow FReepers who are federal retirees!


2 posted on 10/21/2011 8:23:30 AM PDT by Poundstone (A recent Federal retiree and proud of it!)
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To: Poundstone

I am glad to see it. I am glad that Social Security is going up too. I know that saying it is unpopular but I am sorry 85 year olds deserve whatever they earned. Yes some are making out but most are not. Now what about military retirees....if anyone should get a big raise it is them.


3 posted on 10/21/2011 8:25:52 AM PDT by napscoordinator
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To: napscoordinator

Usually when Soc. Security gets a raise, we (VA cases and military retirees) do as well. As I am 100% disabled, if I got 3.6% it would be significant. It’s been a few years since we’ve seen a cola raise and things haven’t gotten cheaper.


4 posted on 10/21/2011 8:32:04 AM PDT by Grunthor (BEAT OBAMA WITH A CAIN!)
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To: Poundstone
Every else - her's YOUR COLA payment:


5 posted on 10/21/2011 8:32:39 AM PDT by Fido969
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To: Grunthor

Very true....I hope you get the 3.6 or even more.


6 posted on 10/21/2011 8:34:11 AM PDT by napscoordinator
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To: Poundstone

The question for SS retirees is — how much will the Medicare premium rise?

There has been no increase for the last 2 years, because SS did not increase.

Californiahealthline.org estimates that Medicare premiums will be about $106.60 in 2012. That would be an increase of about $10.00.


7 posted on 10/21/2011 9:02:47 AM PDT by TomGuy
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Click to Talk to the Hand

You have the right to chatter your little head off.
Anything you say will be laughed at hysterically.
Requests for an attorney will be ignored.
No one's paying for a dang thing for you.
I don't care whether you understand or not.


Prevent this kind of abuse
Abolish FReepathons!   Go Monthly

8 posted on 10/21/2011 9:10:45 AM PDT by TheOldLady (FReepmail me to get ON or OFF the ZOT LIGHTNING ping list)
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To: Grunthor

If you take a look at the inflation chart It has steadily gone up EVERY MONTH.
http://inflationdata.com/Inflation/Inflation_Rate/CurrentInflation.asp


9 posted on 10/21/2011 9:11:11 AM PDT by marty60
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To: TomGuy

Why is mine is $115.40?


10 posted on 10/21/2011 9:20:26 AM PDT by marty60
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To: Poundstone
...who have had benefits for at least one year.

Figures. I'll miss it by 2 months.

11 posted on 10/21/2011 9:21:40 AM PDT by TangoLimaSierra (To the left the truth looks Right-Wing.)
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To: Poundstone

I work for a Fortune 100 and we have gotten 2.5-4.0% every year for the past several years. There is money out there, there just isn’t much of it going to new adventures as companies are uncertain what Zero and Congress are going to do.


12 posted on 10/21/2011 9:23:48 AM PDT by CodeToad (Islam needs to be banned in the US and treated as a criminal enterprise.)
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To: napscoordinator
"I am glad to see it. I am glad that Social Security is going up too.

I am too, but most of it will be eaten up with Medicare premium increases.

13 posted on 10/21/2011 9:29:19 AM PDT by Spunky (Sarah Palin on Polls "Poles are for Strippers and Cross Country Skiers")
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To: marty60
"Why is mine is $115.40?"

I don't know your particular situation, but maybe it is because you didn't start taking it as soon as you reached 65 or maybe your income is such that you fall in the higher premium bracket.

14 posted on 10/21/2011 9:34:59 AM PDT by Spunky (Sarah Palin on Polls "Poles are for Strippers and Cross Country Skiers")
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To: marty60

That is the premium for those that started receiving
benefits in the last two Years. I think the new premium
will equal your 115.40 or more.


15 posted on 10/21/2011 9:40:52 AM PDT by tnwalker
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To: TomGuy

“”The question for SS retirees is — how much will the Medicare premium rise?””

TRUE and social security recipients need to be aware and remember this. If they have Medicare Part B, that premium will go up and it will be offset by the increase in COLA...Some do not sign up for Part B.

I’m curious if the SS COLA will be the same as the federal retirees increase!!!


16 posted on 10/21/2011 9:48:25 AM PDT by Thank You Rush
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To: Thank You Rush

“”The 3.6 percent cost-of-living adjustment (COLA) will begin with benefits that nearly 55 million Social Security beneficiaries receive in January 2012. Increased payments to more than 8 million SSI beneficiaries will begin on December 30, 2011.””

From the Social Security website - so the increase for federal retirees COLA and SS recipients is the same. Answered my own question.


17 posted on 10/21/2011 9:55:42 AM PDT by Thank You Rush
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To: tnwalker

I wonder if it is going up in Jan? HUMMMM


18 posted on 10/21/2011 10:01:01 AM PDT by marty60
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To: Thank You Rush

Recipients also need to be aware...

They must sign up for an approved Part D Prescription Drug plan. Failure to do so will result in a monthly penalty that will accumulate until they do enrol in an approved plan. And, the penalty will not go away when they do enrol — once it starts, it will continue forever.


19 posted on 10/21/2011 10:20:27 AM PDT by TomGuy
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To: marty60

Because you’re obviously rich, and we would all benefit if we spread your wealth around. Now don’t be late with your premium payment!


20 posted on 10/21/2011 10:37:40 AM PDT by Cyber Liberty (Cain = National Sales Tax; Perry = Amnesty for Illegals; Romney = Obamacare forever. Who's left?)
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To: napscoordinator
I am glad that Social Security is going up too.

Medicare increases will probably wipe out most of the raise. The last "increase" resulted in a $5 drop in my wife's SS payment because of that.

21 posted on 10/21/2011 10:58:02 AM PDT by Oatka ("A society of sheep must in time beget a government of wolves." –Bertrand de Jouvenel)
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To: TomGuy

I thought Part D was voluntary.


22 posted on 10/21/2011 11:23:45 AM PDT by ncpatriot
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To: ncpatriot
I thought Part D was voluntary.

It is. Sort of. You can choose not to sign up for a prescription drug plan. But you will be penalized and that penalty will accumulate for each month you are not covered by an approved prescription drug plan. If, later, you do enrol, you will pay the accumulated penalty monthly, thereafter.
23 posted on 10/21/2011 12:40:02 PM PDT by TomGuy
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To: ncpatriot

http://www.medicare.gov/navigation/medicare-basics/medicare-benefits/part-d.aspx#LateEnrollmentPenalty

The above links to the medicare.gov website information regarding the Part D penalty.


24 posted on 10/21/2011 12:47:11 PM PDT by TomGuy
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To: TomGuy

“”They must sign up for an approved Part D Prescription Drug plan. Failure to do so will result in a monthly penalty that will accumulate until they do enrol in an approved plan. And, the penalty will not go away when they do enrol — once it starts, it will continue forever””

My post was regarding Part B which a person accepts or declines when they sign up for SS benefits. If it’s declined, there is a penalty for signing up for Part B at a later time.

I’m not aware of any requirement that a person MUST buy Part D Prescription coverage. That coverage is sold by private companies and only deducted from SS benefits if requested by the enrollee.

Are we talking about the same thing here?


25 posted on 10/21/2011 6:07:21 PM PDT by Thank You Rush
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To: pepperdog

PING


26 posted on 10/21/2011 7:33:58 PM PDT by Coldwater Creek (He who dwells in the shelter of the Most High will rest in the shadow of the Almighty Psalm 91:)
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To: TomGuy
I just found this on that same website: "Medicare offers prescription drug coverage to everyone with Medicare. If you decide not to join a Medicare drug plan when you’re first eligible, and you don’t have other creditable prescription drug coverage, or you don’t get Extra Help, you’ll likely pay a late enrollment penalty." To me sounds like if you sign up with another Rx plan, then there is no penalty.
27 posted on 10/25/2011 7:21:31 PM PDT by ncpatriot
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