[Congressional Record Volume 168, Number 83 (Monday, May 16, 2022)]
[Senate]
[Page S2520]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          STATEMENTS ON INTRODUCED BILLS AND JOINT RESOLUTIONS

      By Mr. PADILLA (for himself, Mrs. Murray, Mr. Sanders, Mr. Van 
        Hollen, and Ms. Warren):
  S. 4221. 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; to the 
Committee on Homeland Security and Governmental Affairs.
  Mr. PADILLA. Mr. President, I rise to speak in support of the Equal 
COLA Act, which I introduced today.
  The Federal Government's workforce is central to protecting our 
national security and delivering critical services to hundreds of 
millions of Americans. As such, it is essential that the Federal 
Government attract and retain an effective workforce and, once their 
service is complete, ensure retirees receive the dignified retirement 
that they deserve.
  Unfortunately, in 1986, Congress created a two-tiered system that now 
prevents nearly 800,000 retired Federal employees from receiving a full 
cost-of-living adjustment when consumer prices increase more than 2 
percent from year to year.
  In January, some Federal retirees received 5.9 percent COLA. However, 
other Federal retirees received only a 4.9 percent increase due to this 
policy, which fails to protect retired employees who are living on a 
fixed income.
  That is why I am proud to introduce this legislation to fix this 
unfair system and ensure that all retired Federal employees receive 
full retirement benefits that keep up with the cost of living.
  I hope my colleagues will join me in support of this bill to ensure 
that retired Federal employees no longer pay the price of a misguided 
law and that their benefits fully keep pace with the cost of living.

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