Equal COLA Act

HR 866, the Equal COLA Act, changes how cost-of-living adjustments (COLAs) are calculated for federal retirees under the Federal Employees Retirement System (FERS). It requires that each year's COLA be based on the exact percent change in the price index from the previous year's base quarter, rounded to the nearest 0.1%, effective December 1. This applies to all FERS annuities starting before, on, or after the bill's enactment date, ensuring a standardized calculation method for retirees' annual adjustments.