United States S 3194: Equal COLA Act

Bill Text

II
118TH CONGRESS
1ST SESSION S. 3194
To amend title 5, United States Code, to achieve parity between the cost-
of-living adjustment with respect to an annuity under the Federal Em-
ployees Retirement System and an annuity under the Civil Service Retire-
ment System, and for other purposes.
IN THE SENATE OF THE UNITED STATES
NOVEMBER 1, 2023
Mr. PADILLA (for himself, Mr. VAN HOLLEN, Mr. SANDERS, Mr. CARDIN,
Mrs. MURRAY, and Ms. WARREN) 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 Sys-
tem, and for other purposes.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Equal COLA Act’’. 4
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2
•S 3194 IS
SEC. 2. INCREASE IN COLA FOR FERS ANNUITIES. 1
(a) IN GENERAL.—Section 8462(b)(1) of title 5, 2
United States Code, is amended to read as follows: 3
‘‘(b)(1) Except as provided in subsection (c), effective 4
December 1 of each year, each annuity payable from the 5
Fund having a commencing date not later than such De-6
cember 1 shall be increased by the percent change in the 7
price index for the base quarter of such year over the price 8
index for the base quarter of the preceding year in which 9
an adjustment under this subsection was made, adjusted 10
to the nearest 1⁄10 of 1 percent.’’. 11
(b) APPLICATION.—The amendment made by sub-12
section (a) shall apply to— 13
(1) any cost-of-living adjustment under section 14
8462 of title 5, United States Code, made after the 15
date of enactment of this Act; and 16
(2) any annuity covered by section 8462 of title 17
5, United States Code, commencing before, on, or 18
after the date of enactment of this Act. 19
Æ
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