Pension COLA adjustment letter

Iā€™m not sure that they were ever intended to keep up with inflation.

Some New York State pension COLAs are calculated based on 50% of the inflation rate and further capped at 3%.

Check to see what method your plan uses, it may be more generous or possibly more restrictive.
 
debodun said:
I received notification about the COLA adjustment to my pension. It's going up a whopping $18 a month! That won't even buy a large package of ground beef.
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My company retirement check doesn't have COLA's so I'm making the same as I was in 2015 when I retired and I'm very happy to get what I get....not a huge amount but thankfully both my SS and VA disability have COLA's.
 
I get a pension based on years of service. It didn't start until I turned 65. There's no COLA so it's the same as it was when I started getting it 20 years ago. Fine by me. AFAIC, it's free money.
 
debodun said:
I received notification about the COLA adjustment to my pension. It's going up a whopping $18 a month! That won't even buy a large package of ground beef.
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The average annual income

Burundi $190

https://www.worlddata.info/average-income.php?full

The statement "I used to complain about having no shoes until I met a man who had no feet" is a well-known aphorism that highlights the importance of gratitude by observing that one's problems are often less severe when compared to the struggles of others
 
debodun said:
Just received an "inflation refund" check from the state. $200. WOW! That will almost buy a large package of ground beef and a bag of coleslaw mix.
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Iā€™ll say ā€œ WOW!ā€. COL is really high where where you live if thatā€™s all you get for $200!

Where I live, $200 will get me any ONE of the below listed items, but I need them all at some point:

groceries for one for three weeks.
78 gallons of gas or red diesel.
300# horse feed that will last four weeks.
15 (55#) bales of mixed grass hay that will last two horses ~45 days.

Dog food - dog food is ridiculous. I feed TOTWā€˜s salmon based, but even the cheap dog foods are ridiculously high. My guard dogs weigh ~75# apiece, so they eat a lot.

At least you have some sort of pension. I donā€™t have a pension since the union officers stole our pension money years ago, but thatā€™s its own big political story. The company stepped in and took the retirement plans over but by then it was almost too late. Then came the 2008 crash that cost me an HUGE amount of money. Except for rising cost of auto insurance, HO insurance & RE taxes, I try not to complain. I continue to give thanks every day that I can still put one foot in front of the other, for the privilege of having my own place to live on a one lane road, and hope for the best for tomorrow.
 
debodun said:
And yet billionaires keep doing business to make more money they they will never use.
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America the land of opportunity.

  1. Investment and Capital: Billionaires often have significant capital to invest in businesses, which is essential for job creation. As noted in a Forbes article, the wealthy provide the necessary funds for companies to start and expand, leading to the creation of jobs. Without this investment, many companies would not exist, and thus, jobs would not be created.

    1
  2. Direct Job Creation: Specific billionaires have been credited with creating millions of jobs through their companies. For instance, the top 12 billionaire job creators have generated at least 2.3 million jobs globally, demonstrating a direct link between billionaire entrepreneurs and employment opportunities.

Then there are those that complain that get a monthly increase that is more than some people in poorer countries make in a year
 

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