Equal COLA Act
This bill revises the formula used to calculate the cost-of-living adjustment for annuities paid under the Federal Employees Retirement System.
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 System, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Equal COLA Act''.

SEC. 2. INCREASE IN COLA FOR FERS ANNUITIES.

    (a) In General.--Paragraph (1) of subsection (b) of section 8462 of 
title 5, United States Code, is amended to read as follows:
    ``(1) Except as provided in subsection (c), effective December 1 of 
each year, each annuity payable from the Fund having a commencing date 
not later than such December 1 shall be increased by the percent change 
in the price index for the base quarter of such year over the price 
index for the base quarter of the preceding year in which an adjustment 
under this subsection was made, adjusted to the nearest \1/10\ of 1 
percent.''.
    (b) Application.--The amendment made by subsection (a) shall apply 
to--
            (1) any cost-of-living adjustment under section 8462 of 
        title 5, United States Code, made after the date of the 
        enactment of this Act; and
            (2) any annuity covered by such section commencing before, 
        on, or after such date.
                                 <all>
Equal COLA Act
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 System, and for other purposes.
Equal COLA Act
Rep. Connolly, Gerald E.