As a federal retiree who has served our country for over 38 years, I am deeply concerned with a provision in the president’s budget which would eliminate cost-of-living adjustments for current and future federal retirees. I ask that my Representative and Senators oppose any proposals that would reduce COLAs for federal retirees. To eliminate or reduce the COLAs for federal retirees would have a detrimental effect on the lives of many, many federal retirees residing in Northwest Georgia.
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.