As a federal worker who has served our country for more than 30 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 Rep. Young, and Sens. Grassley and Ernst 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 the COLA further threatens our health and financial security.
This proposal would diminish the value of a hard-earned annuity, by allowing inflation to erode the benefit over the course of retirement. If this proposal were to become law, I would have to continue to work another 10 years or more, instead of enjoying that retirement fully, as promised. With the cost of goods and medical care on the rise, I will not sit back and allow this attack to gain a foothold.
Robin Arnold
West Des Moines