OPENING THE RECORD
OPENING THE RECORD
H.R. 491 · 119TH CONGRESS
This has not become law. Both chambers must pass the same text before sending it to the president. How a bill becomes law.
CONGRESSIONAL RESEARCH SERVICE
Equal COLA Act
This bill applies a cost-of-living adjustment (COLA) for annuities paid under the Federal Employees Retirement System that is equal to the increase in inflation, regardless of the amount of the increase.
Specifically, for any year in which the Consumer Price Index (CPI) has increased over the previous year, the COLA amount shall be increased by the change in the CPI from the previous year.
Current law applies an adjustment equal to the change in CPI only if the change is 2% or less. If the change is between 2% and 3%, the adjustment is limited to 2%. If the change is more than 3%, the adjustment is limited to 1% less than the change.
Written by the Congressional Research Service for this version of the bill. Later versions may differ. Read at Congress.gov.