Equal COLA Act
Rep. Connolly Introduces Equal COLA Act to Boost Retirement Benefits for Federal Employees
Stalled
No legislative action in over 90 days.
↔Companion bill: Senator Padilla Proposes Full Inflation Raises for Millions of Federal RetireesLegislative Progress
Key Points
- This bill, called the Equal COLA Act, would change how annual inflation raises are calculated for retired federal employees. It aims to make sure all federal retirees get the same percentage increase regardless of which retirement plan they are in.
- Currently, federal workers in the newer retirement system often receive smaller cost-of-living adjustments than those in the older system. When inflation is above 2%, the newer system's raise is often reduced, which means these retirees' checks don't go as far over time as prices for goods and services rise.
- The policy would fix this by ensuring that retirement checks increase by the full amount of inflation every year. This helps retirees keep up with the rising costs of everyday items like food, gas, and medicine without losing their buying power.
- These changes would apply to all future cost-of-living adjustments once the bill is signed into law. It would help millions of current and future federal retirees maintain their standard of living throughout their retirement years.
Impact Analysis
Personal Impact
Life & Work
This bill would give retired federal workers under the newer FERS retirement system the same full cost-of-living adjustment that retirees under the older CSRS system already receive. Right now, when inflation tops 2%, FERS retirees get a smaller raise — typically 1 percentage point less than the actual inflation rate. Over many years of retirement, that gap adds up to thousands of dollars in lost purchasing power. If passed, this change would apply to all current and future FERS retirees, helping their retirement checks keep pace with rising prices for groceries, housing, and healthcare.
Programs
State Impacts
Milestones
ASSUMING FIRST SPONSORSHIP - Mr. Walkinshaw asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 491, a bill originally introduced by Representative Connolly, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.
Referred to the House Committee on Oversight and Government Reform.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
5 articles
Virginia lawmaker takes over advocacy for federal workforce bills
Newly elected Rep. James Walkinshaw (D-Va.) has formally taken over as the lead sponsor for the Equal COLA Act (H.R. 491) following the death of Rep. Gerry Connolly. The bill seeks to standardize cost-of-living adjustments across the CSRS and FERS retirement systems to prevent the 'diet COLA' penalty currently affecting newer federal retirees.
Senate Dem reintroduces Equal COLA Act, and more
Senator Alex Padilla (D-Calif.) reintroduced the Equal COLA Act (S. 624) to ensure enrollees in both the Civil Service Retirement System and the Federal Employees Retirement System receive the same cost-of-living increase each year. Padilla noted the bill has renewed urgency as the administration conducts workforce reductions and offers early retirement.
Legislation Would Boost COLAs For Some Federal Retirees
The Equal COLA Act (H.R. 491) has been reintroduced in the House to eliminate the disparity between FERS and CSRS cost-of-living adjustments. Currently, FERS retirees receive a reduced adjustment when inflation exceeds 2%, a policy the bill's sponsors argue unfairly penalizes newer federal workers during periods of high inflation.
Source Information
Document Type
Congressional Bill
Official Title
Equal COLA Act
Data Sources
Sponsor
Cosponsors
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