119 S624 IS: Equal COLA Act U.S. Senate 2025-02-18 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II119th CONGRESS1st SessionS. 624IN THE SENATE OF THE UNITED STATESFebruary 18, 2025Mr. 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 AffairsA BILLTo 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.

1.

Short title

This Act may be cited as the Equal COLA Act.

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.