Equal COLA Act
This bill applies a cost-of-living adjustment (COLA) for annuities paid under the Federal Employees Retirement System that is equal to the increase in inflation, regardless of the amount of the increase.
Specifically, for any year in which the Consumer Price Index (CPI) has increased over the previous year, the COLA amount shall be increased by the change in the CPI from the previous year.
Current law applies an adjustment equal to the change in CPI only if the change is 2% or less. If the change is between 2% and 3%, the adjustment is limited to 2%. If the change is more than 3%, the adjustment is limited to 1% less than the change.
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 491 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 491
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.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 16, 2025
Mr. Connolly (for himself, Mr. Mullin, Ms. Tlaib, Ms. Brownley, Mr.
Boyle of Pennsylvania, Mr. Cleaver, Mr. Davis of North Carolina, Mrs.
McBath, Ms. DelBene, Mr. Frost, Mr. Cohen, Ms. Leger Fernandez, Mr.
Mrvan, Mr. Thanedar, Ms. Titus, Mrs. Cherfilus-McCormick, Mr. Raskin,
Ms. McClellan, Mr. Casar, Mr. Davis of Illinois, Ms. Ocasio-Cortez, Mr.
Garamendi, Ms. Salinas, Mr. Lynch, Mr. Goldman of New York, Ms. Hoyle
of Oregon, Mr. Takano, and Mr. Mfume) introduced the following bill;
which was referred to the Committee on Oversight and Government Reform
_______________________________________________________________________
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.--Paragraph (1) of subsection (b) of section 8462 of
title 5, United States Code, is amended to read as follows:
``(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 the
enactment of this Act; and
(2) any annuity covered by such section commencing before,
on, or after such date.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Oversight and Government Reform.
ASSUMING FIRST SPONSORSHIP - Mr. Walkinshaw asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 491, a bill originally introduced by Representative Connolly, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.
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