Jessa Caresse

2024 Cost Of Living Increase For Employees. The amount of the 2024 cost of living adjustment (cola) will be announced on october 12, 2023. President joe biden signed an executive order implementing an average 5.2% federal pay raise for most civilian employees in 2024, the final step needed to make the salary increases official.

The gs pay table incorporates a base pay increase of 4.7% and an additional 0.5% for locality pay. Executive order number 14113, dated december 21, 2023, authorizes an average 5.2 percent increase (combination of the base of 4.7 percent and a locality of 0.5 percent, for a.