[Congressional Record Volume 169, Number 180 (Wednesday, November 1, 2023)]
[Senate]
[Page S5317]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. PADILLA (for himself, Mr. Van Hollen, Mr. Sanders, Mr. 
        Cardin, Mrs. Murray, and Ms. Warren):
  S. 3194. 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. Madam President, I rise to speak in support of the Equal 
COLA Act, which I reintroduced 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 will receive a 3.2-percent COLA. 
However, other Federal retirees will receive only a 2.2-percent 
increase due to this policy, which fails to protect retired employees 
living on a fixed income.
  That is why I am proud to reintroduce 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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