Equal COLA Act

This bill, the Equal COLA Act (S 624), equalizes cost-of-living adjustments (COLAs) for federal retirees under the Federal Employees Retirement System (FERS) and the Civil Service Retirement System (CSRS). It directly affects current and future FERS retirees, who currently receive less favorable COLAs than CSRS retirees. The key provision amends federal law to apply the same annual COLA calculation method - based on the previous year's price index change - to both systems, effective December 1 each year. This change ensures FERS annuities receive the same adjustment percentage as CSRS annuities, regardless of when the annuity began. The bill applies to all affected annuities commencing before, on, or after enactment.