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Annual Changes Background Each year, we publish a Benefits Administration Letter (BAL) with updated information that changes annually, such as interest rates and cost-of-living adjustments. This BAL contains the figures for 2009. Cost-of-Living Adjustments Many people who receive monthly annuity payments from the Civil Service Retirement System (CSRS) or the Federal Employees Retirement System (FERS) will receive a costof-living adjustment (COLA) effective December 1, 2008. They will receive th.

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