5 CFR § 848.503 - Cost-of-living adjustments.

---
identifier: "/us/cfr/t5/s848.503"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "5 CFR § 848.503 - Cost-of-living adjustments."
title_number: 5
title_name: "Administrative Personnel"
section_number: "848.503"
section_name: "Cost-of-living adjustments."
chapter_name: "OFFICE OF PERSONNEL MANAGEMENT"
subchapter_number: "B"
subchapter_name: "CIVIL SERVICE REGULATIONS"
part_number: "848"
part_name: "PHASED RETIREMENT"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 8461; 5 U.S.C. 8412a."
regulatory_source: "79 FR 46632, Aug. 8, 2014, unless otherwise noted."
cfr_part: "848"
---


# 848.503 Cost-of-living adjustments.

(a) The phased retirement annuity under § 848.501 is increased by cost-of-living adjustments in accordance with 5 U.S.C. 8462.

(b) A composite retirement annuity under § 848.502 is increased by cost-of-living adjustments in accordance with 5 U.S.C. 8462, except that 5 U.S.C. 8462(c)(1) does not apply.

(c)(1) For the purpose of computing the amount of phased retirement annuity used in the computation under § 848.502(a)(1), the initial cost-of-living adjustment applied is prorated in accordance with 5 U.S.C. 8462(c)(1).

(2) If the individual enters full retirement status on the same day as the effective date of a cost-of-living adjustment (usually December 1st), that cost-of-living adjustment, if applicable under 5 U.S.C. 8462, is applied to increase the phased retirement annuity used in the computation under § 848.502(a)(1).