Retired Member COLA
The accumulation toward the 2015 cost-of-living adjustments (COLAs) for both Civil Service Retirement System (CSRS) and Federal Employee Retirement System (FERS) was 1.8 percent following the Aug. 19 release of the Consumer Price Index (CPI) for July 2014. The 2015 COLA will be based on the increase in the average CPI between the 3rd quarter of 2013 and the 3rd quarter of 2014.
CSRS annuities receive full COLAs; COLAs for FERS annuities are payable for retirees 62 and older and may be reduced by up to one percentage point from the increase in the CPI.
Federal Employees Compensation Act (FECA) cost-of-living adjustments (COLAs) are applicable only in cases where death or disability occurred more than one year prior to the adjustment’s effective date.
Based on the Aug. 19 release of the July 2014 Consumer Price Index (CPI), the projected accumulation toward the 2015 FECA COLA was 2.3 percent.
The 2015 FECA COLA will be based on the increase in the CPI between December 2013 and December 2014, and it will become effective on March 1, 2015.
Long-term care insurance
Letter carriers or retired carriers can apply for coverage under the Federal Long Term Care Insurance Program at any time. You do not have to wait until the next Open Season, but you must submit a "full underwriting" application. "Full underwriting" means that applicants will have to answer numerous health-related questions. It may also include a review of medical records and possibly an interview with a nurse. OPM has stated that this is the same level of underwriting that those who purchase individual policies in the private market undergo.
Letter carriers may obtain additional information about any aspect of the Long-Term Care Program by calling 800-582-3337 or visiting the LTC web site at www.LTCFEDS.com.
You can also download application forms or apply on line at that website.