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The answers to your questions are:

Do Federal pensions index with COLA?

Yes, federal pensions under the old Civil Service Retirement System (CSRS) are increased based upon the cost of living index.

If so, what would he be getting now?

This question is very difficult to answer. To answer it you would need to know how many years of service Felt had and what his three highest years earnings were and the date he retired. The computation would be very difficult but not impossible to accomplish. But since Felt apparently served over 42 years, he would have received the maximum percentage of 80% of his highest three year average earnings. If you know what that was, you can convert it to today's dollars since the Cost of Living adjustments were designed to keep pace with inflation.

Also, back then..did Fed employees pay into SocSec. Would he be also receiving Soc Security?

Under the CSRS federal employees did not pay into Social Security. Employees under the new Federal Employee Retirement System (FERS) do pay into Social Security. (That requirement was the DEMONrats' attempt in the mid-1980s to make Social Security solvent until 2150. I guess it didn't work, did it?)

I don't think you are being cynical. Today the number two individual in the FBI is a top grade member of the Senior Executive Service who earns something on the order of $156,000 as base pay. 80% of that amount comes to $124,800 or about $10,000 a month. That is a rather tidy sum. Anyone want to live in my garage? I only charge $2,000 a month but I cannot guarantee all the fog that San Francisco receives.