- A round-up of news from around the federal government: COLA for FECA recipients.
- And NASA project with private space company burned up in the atmosphere.
- Also – federal judge says postal worker can carry firearm in federal building.
Away from the recent government shutdown drama, here some news stories from around the US government. First, we look at the COLA for FECA recipients. Then, the fuel leak that doomed the Peregrine spaceship is explored. Lastly, we’ll examine a recent court ruling that ruled in favor of a USPS worker’s right to carry a gun.
COLA for FECA at 3.3%
Unlike the COLA for social security and FERS/CSRS annuitants, the cost-of-living adjustment (COLA) for FECA beneficiaries is calculated every calendar year. However, both COLAs use the same formula, taking the average rise in inflation over a three-month span. For social security, based off the fiscal year, COLA is determined by inflation from July to September. For FECA, the adjustment is determined using inflation growth from October to December. The 2024 COLA for Social Security and CSRS was 3.2%, it was 2.2% for FERS retirees, and it will be 3.3% for FECA.
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FECA stands for the Federal Employee Compensation Act, which pays feds who are unable to work due to a work-related injury or illness. The payments are administered by both OPM and the DOL’s office of worker’s compensation. FECA beneficiaries who return to federal service after recovering do not lose any length of service credit. There is also no impact on your benefits – it’s as though you never left, practically speaking.
Peregrine’s Fuel Leak
There are currently three private space companies working with NASA to experiment on delivering “payloads” to the lunar surface to assist with future Artemis missions. The first of fifteen such payloads did not complete its mission. The spaceship the Peregrine, developed by ‘Astrobotic’ experienced a fuel leak and was therefore unable to complete a “soft landing” on the moon. Although the leak stopped, the fuel-to-oxidizer ratio was too off balance to continue. The spacecraft fizzled up in flames while entering the atmosphere on Thursday, January 18. The other two companies working with NASA are ‘Celestis’ and ‘Elysium Space.’
USPS Right to Bear Arms
A truck driver for the US postal service, Emmanuel Ayala from Tampa Bay, FL, obtained a concealed carry permit to have a firearm on his route for self-protection. He would occasionally enter a federal facility with the weapon – which is illegal. When agents from the USPS Officer of the Inspector General arrived to detain Ayala, he fled and was eventually arrested by Tampa Bay police. Recently, a federal judge ruled in his favor, saying the government’s definition of ‘federal facility’ is too broad. While the firearm charge was dismissed, the charge for resisting arrest was upheld.
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Until Next Time,
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**Written by Benjamin Derge, Financial Planner, ChFEBC℠ The information has been obtained from sources considered reliable but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Benjamin Derge and not necessarily those of RJFS or Raymond James. Links are being provided for information purposes only. Expressions of opinion are as of this date and are subject to change without notice. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors.
