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Cost-of-Living Adjustments for New Federal Retirees : More Rational and Less Costly Processes Are Needed, Report to the Congress

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Cost-of-Living Adjustments for New Federal Retirees : More Rational and Less Costly Processes Are Needed, Report to the Congress

DATE: November 17, 1977

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ABSTRACT: Cost-of-living adjustments are intended to protect the purchasing power of Federal annuities, but existing law permits retiring employees and new retirees to benefit from cost-of-living increases which occur while they are still employed. The law should be changed to provide that new retirees' adjustments be prorated to include only the cost-of-living increases that occur after retirement. This change would be more rational and save over $800 million in annuity payments over the remaining lifespans of civil service employees retiring in 1978 alone.

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United States. General Accounting Office and United States. Government Accountability Office. "Cost-of-Living Adjustments for New Federal Retirees : More Rational and Less Costly Processes Are Needed, Report to the Congress" in GAO Reports & Testimonies (November 17, 1977). https://fraser.stlouisfed.org/title/6136/item/589794, accessed on May 2, 2024.

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NOTE: FPCD-78-2

B-130150

PUBLISHER: United States. General Accounting Office

PLACE: Washington

SUBJECTS: CLASSIFICATION:
  • sudocs: GA 1.13: FPCD-78- 2
IDENTIFIER:
  • oclc: ocn880038375
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