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If Trump cuts COLAs, federal retirees will pay the price

President Donald Trump holds an example of what a new tax form may look like during a meeting on tax policy with Republican lawmakers including House Speaker Paul Ryan of Wis., and Chairman of the House Ways and Means Committee Rep. Kevin Brady, R-Texas, right, Thursday in the Cabinet Room of the White House.
President Donald Trump holds an example of what a new tax form may look like during a meeting on tax policy with Republican lawmakers including House Speaker Paul Ryan of Wis., and Chairman of the House Ways and Means Committee Rep. Kevin Brady, R-Texas, right, Thursday in the Cabinet Room of the White House. Evan Vucci AP

As a federal retiree who has served our country for 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 my representative and senators 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 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.

Bohdan J. Bodnaruk

Venice

This story was originally published November 3, 2017 at 11:24 AM with the headline "If Trump cuts COLAs, federal retirees will pay the price."

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