Equal COLA Act

The Equal COLA Act (S 3194) changes how cost-of-living adjustments (COLAs) are calculated for federal retirees under the Federal Employees Retirement System (FERS). It requires that FERS annuities (retirement benefits) be adjusted each December 1 based on the annual change in the price index, rounded to the nearest 0.1%. This applies to all future COLAs, regardless of when the annuity began - whether before, on, or after the law's effective date. The bill directly affects federal retirees receiving FERS benefits, ensuring their payments rise with inflation as measured by the specified price index.