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Congress·In Committee

Senator Padilla Proposes Full Inflation Raises for Millions of Federal Retirees

Equal COLA Act

Also known as: Equal COLA Act

about 1 year ago·View on Congress.gov

Legislative Progress

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Key Points

  • This bill, introduced by Senator Padilla, would change how annual raises are calculated for people retired from the federal government. It aims to make sure all federal retirees get the same percentage increase to keep up with inflation.
  • Currently, workers in the newer retirement system often get smaller raises than those in the older system when inflation is high. This bill would remove those limits so everyone gets the full adjustment based on rising prices.
  • The goal is to protect the buying power of retirees. When the cost of things like food and medicine goes up, this change ensures that retirement checks grow at the same rate so seniors do not fall behind financially.
  • If this becomes law, it would apply to all future cost-of-living adjustments. It would help both current retirees and current federal employees who plan to retire in the future.
Labor EmploymentEconomy Finance

Impact Analysis

Scores: 1 = low, 5 = highSentiment: -5 to +5 (net benefit)

Milestones

2 milestones2 actions
Feb 18, 2025Senate

Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S1011)

Feb 18, 2025

Introduced in Senate

Related News

3 articles
FEDweek·9 months ago

FERS Retirement COLAs: Report Lays Out Background, Current Positions on Parity

A Congressional Research Service report examines the Equal COLA Act (HR-491 and S-624), noting that the provision requiring lower COLAs for FERS employees was a 1980s legislative compromise. The bill seeks to provide FERS retirees the same inflation protection as those under the CSRS system.

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Government Executive·4 months ago

Cost-of-living adjustments will stay relatively static in 2026

With 2026 COLA figures set at 2.8% for CSRS and 2.0% for FERS, the article highlights the 'diet COLA' penalty. It notes that the Equal COLA Act, now led in the House by Rep. James Walkinshaw, remains the primary legislative vehicle to end this disparity.

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My Federal Retirement·4 months ago

2026 CSRS COLA / 2026 FERS COLA - Federal Retiree, Social Security

The announcement of the 2026 COLA confirms a 2.8% increase for CSRS and 2.0% for FERS. The report references the Equal COLA Act as the proposed fix for the calculation discrepancy that prevents FERS retirees from receiving full inflation adjustments.

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Source Information

Document Type

Congressional Bill

Official Title

Equal COLA Act

Bill NumberS 624
Congress119th Congress
ChamberSenate
Latest ActionRead twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S1011)

Sponsor

Cosponsors

(16)
D: 14I: 2

Analysis generated by AI. While we strive for accuracy, this should not be considered legal or professional advice. Always verify information with official government sources.