4.7% Cost of Living Adjustment Approved

President Biden issued an executive order approving a 4.7% cost of living adjustment (COLA) for CY2024, found here.

All federal employees will get a 4.7% increase to their base pay, and there are additional increases to locality pay that average 0.5%. However, since DRT stations are in the “Rest of US” locality, we only get the 4.7% increase.

This is different than and does not affect the BPA GS-12 pay raise that was announced last week — we will provide more information about this when it becomes available.

OPM published a memorandum for agencies on CHCOC.gov and posted the official 2024 salary tables on OPM.gov.