COLA Reductions Will Not be in 2015 Budget

"...President Obama will not tinker with federal retirees’ cost-of-living adjustments in his fiscal 2015 budget, which is scheduled for release in early March.

Obama proposed switching to a chained Consumer Price Index -- a formula that slows the rate of inflation growth and in turn, reduces federal retirees’ and Social Security beneficiaries’ COLAs -- in his fiscal 2014 budget. He first pitched the change during the 2012 fiscal cliff negotiations.

A move to the chained CPI is still on the table in hypothetical future budget negotiations, White House spokesman Josh Earnest said at a press briefing on Thursday, but it will not be in the president’s fiscal 2015 budget..."

Read more at GovExec.com