{"data":{"id":"us/5-cfr-848.503","jurisdiction":"us","citation":"5 CFR 848.503","heading":"Cost-of-living adjustments.","body":"(a) The phased retirement annuity under § 848.501 is increased by cost-of-living adjustments in accordance with 5 U.S.C. 8462.\n(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.\n(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).\n(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).","path":["Title 5—Administrative Personnel","CHAPTER I—OFFICE OF PERSONNEL MANAGEMENT","SUBCHAPTER B—CIVIL SERVICE REGULATIONS","PART 848—PHASED RETIREMENT","Subpart E—Computation of Phased Retirement Annuity at Phased Retirement and Composite Retirement Annuity at Full Retirement"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-5.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:23:53Z","sha256":"6158b3e1537f0b7b18414562c42a0e83a90ba3a1ae82ca64106270bad693125b","source_id":"us-cfr","stale":true,"prev":"us/5-cfr-848.502","next":"us/5-cfr-848.504"},"notice":"GroundRules: Original legal text. Not legal advice."}