Letter: Concerned about COLA cuts
As a federal retiree who has served our country for years, I am deeply concerned with a provision in the president’s budget which would eliminate cost-of-living adjustments (COLAs) for current and future federal retirees. I ask that my representative and senators oppose any proposals that would reduce COLAs for federal retirees.
The annual COLA provides protections against inflation, but even the current calculation is inadequate because it understates the impact of health care spending, yielding lower annual COLAs. Reducing or eliminating my COLA further threatens my health and financial security.
This proposal would diminish the value of my hard-earned annuity by allowing inflation to erode the benefit over the course of my retirement. With the cost of goods and medical care on the rise, I will not sit back and allow this attack to gain a foothold.