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To amend title 5, United States Code, to achieve parity between the cost-of-living adjustment with respect to an annuity under the Federal Employees Retirement System and an annuity under the Civil Service Retirement System, and for other purposes.
Summary
This bill amends federal law to equalize cost-of-living adjustments (COLA) for federal employees and retirees. Currently, employees under the Federal Employees Retirement System (FERS) receive smaller COLA adjustments than those under the older Civil Service Retirement System (CSRS). The bill changes the FERS COLA calculation to match the CSRS formula, adjusting annuities each December based on the annual change in the price index. The change applies to all COLA adjustments made after enactment and to all annuities under the affected programs.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Padilla, Alex [D-CA] (D-CA)
20 cosponsors
- Sen. Alsobrooks, Angela D. [D-MD] (D-MD)
- Sen. Baldwin, Tammy [D-WI] (D-WI)
- Sen. Blumenthal, Richard [D-CT] (D-CT)
- Sen. Blunt Rochester, Lisa [D-DE] (D-DE)
- Sen. Coons, Christopher A. [D-DE] (D-DE)
- Sen. Fetterman, John [D-PA] (D-PA)
- Sen. Gillibrand, Kirsten E. [D-NY] (D-NY)
- Sen. Kaine, Tim [D-VA] (D-VA)
- Sen. Kim, Andy [D-NJ] (D-NJ)
- Sen. King, Angus S., Jr. [I-ME] (I-ME)
- Sen. Luján, Ben Ray [D-NM] (D-NM)
- Sen. Markey, Edward J. [D-MA] (D-MA)
- Sen. Merkley, Jeff [D-OR] (D-OR)
- Sen. Murray, Patty [D-WA] (D-WA)
- Sen. Sanders, Bernard [I-VT] (I-VT)
- Sen. Schatz, Brian [D-HI] (D-HI)
- Sen. Schiff, Adam B. [D-CA] (D-CA)
- Sen. Shaheen, Jeanne [D-NH] (D-NH)
- Sen. Van Hollen, Chris [D-MD] (D-MD)
- Sen. Warren, Elizabeth [D-MA] (D-MA)
Actions (2)
- Feb 18, 2025 Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S1011) · senate
- Feb 18, 2025 Introduced in Senate
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Full text
IN THE SENATE OF THE UNITED STATES
February 18, 2025
Mr. Padilla (for himself, Mr. Van Hollen, Mr. Sanders, Mrs. Murray, Ms. Warren, Ms. Baldwin, Mr. King, Mr. Schatz, Mr. Blumenthal, Mr. Kaine, and Mr. Fetterman) introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs
A BILL
To amend title 5, United States Code, to achieve parity between the cost-of-living adjustment with respect to an annuity under the Federal Employees Retirement System and an annuity under the Civil Service Retirement System, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Equal COLA Act”.
SEC. 2. INCREASE IN COLA FOR FERS ANNUITIES.
(a) In General.—Section 8462(b)(1) of title 5, United States Code, is amended to read as follows:
“(b)(1) Except as provided in subsection (c), effective December 1 of each year, each annuity payable from the Fund having a commencing date not later than such December 1 shall be increased by the percent change in the price index for the base quarter of such year over the price index for the base quarter of the preceding year in which an adjustment under this subsection was made, adjusted to the nearest \1/ 10\ of 1 percent.”.
(b) Application.—The amendment made by subsection (a) shall apply to—
(1) any cost-of-living adjustment under section 8462 of title 5, United States Code, made after the date of enactment of this Act; and
(2) any annuity covered by section 8462 of title 5, United States Code, commencing before, on, or after the date of enactment of this Act. <all>
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