Bill > S4221

This bill, called the Equal COLA Act, aims to achieve parity between the cost-of-living adjustment (COLA) for annuities under the Federal Employees Retirement System (FERS) and the Civil Service Retirement System (CSRS). Specifically, it amends the existing law to remove the separate COLA calculation for FERS annuities and instead apply the same COLA adjustment used for CSRS annuities, which is calculated based on the percent change in the price index. The amendments will take effect 90 days after the bill's enactment and apply to all FERS COLAs made after that date, as well as any FERS annuities commencing before, on, or after that effective date.