WASHINGTON, DC – Joseph A. Beaudoin, president of the National Active and Retired Federal Employees Association (NARFE), released the following statement today in response to news that a new formula is being suggested that will lower cost-of-living adjustments (COLAs) for Social Security:
“As part of a grand budget agreement, leaders in Washington are considering altering the way cost-of-living adjustments are calculated in Social Security, and the proposed threat could also apply to federal retirement annuities. On behalf of the nation’s retired federal employees, NARFE opposes lowering federal retirement annuities, which will make it even more difficult for these Americans who live on already-thin fixed incomes to get by in these tough times. Retired and active federal employees have served our country proudly and should not be singled out to bear the burden of fixing a budget problem they did not create.”
NARFE, one of America’s oldest and largest associations, was founded in 1921 with the mission of protecting the earned rights and benefits of America’s active and retired federal workers. The largest federal employee/ retiree organization, NARFE represents the retirement interests of nearly 5 million current and future federal annuitants, spouses and survivors.