Equal COLA Act

I 117TH CONGRESS 1ST SESSION H. R. 304 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 HOUSE OF REPRESENTATIVES JANUARY 13, 2021 Mr. CONNOLLY introduced the following bill; which was referred to the Committee on Oversight and Reform 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 VerDate Sep 11 2014 04:05 Feb 09, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H304.IH H304 dlhill on DSK120RN23PROD with BILLS 2 •HR 304 IH SEC. 2. INCREASE IN COLA FOR FERS ANNUITIES. 1 (a) IN GENERAL.—Paragraph (1) of subsection (b) 2 of section 8462 of title 5, United States Code, is amended 3 to read as follows: 4 ‘‘(1) Except as provided in subsection (c), effective 5 December 1 of each year, each annuity payable from the 6 Fund having a commencing date not later than such De- 7 cember 1 shall be increased by the percent change in the 8 price index for the base quarter of such year over the price 9 index for the base quarter of the preceding year in which 10 an adjustment under this subsection was made, adjusted 11 to the nearest 1⁄10 of 1 percent.’’. 12 (b) APPLICATION.—The amendment made by sub- 13 section (a) shall apply to— 14 (1) any cost-of-living adjustment under section 15 8462 of title 5, United States Code, made after the 16 date of the enactment of this Act; and 17 (2) any annuity covered by such section com- 18 mencing before, on, or after such date. 19 Æ VerDate Sep 11 2014 21:56 Feb 06, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H304.IH H304 dlhill on DSK120RN23PROD with BILLS