rich 1.0 Action Network https://actionnetwork.org <link href='https://actionnetwork.org/css/style-embed-v3.css' rel='stylesheet' type='text/css' /><script src='https://actionnetwork.org/widgets/v6/letter/its-time-for-congress-to-support-the-equal-cola-act?format=js&source=widget'></script><div id='can-letter-area-its-time-for-congress-to-support-the-equal-cola-act' style='width: 100%'><!-- this div is the target for our HTML insertion --></div> AFGE - American Federation of Government Employees https://actionnetwork.org/groups/week-in-review https://can2-prod.s3.amazonaws.com/groups/default_facebook_images/000/009/309/original/FB-Action-Network.jpg?1592925281 With the announcement of the 2024 Cost of Living Adjustment (COLA), Social Security benefits and Civil Service Retirement System (CSRS) pensions will keep pace with inflation and see a 3.2% increase, but Federal Employees Retirement System (FERS) retirees will only get 2.2%. Housing, food, and healthcare costs go up every year, therefore, having an adequate COLA is critical for workers and retirees to be able to afford these rising costs. Without an adequate COLA, hard earned pension benefits will be eroded over time and the retirement security of federal retirees will be at risk. Rather than receive the full COLA to keep up with inflation as measured by Social Security and under the older CSRS, retirees under FERS face an arbitrary one percent reduction in their COLA in years when inflation is over 3 percent and smaller deductions when inflation is between 2 and 3 percent. For 2024, this means a FERS retiree with an average benefit in 2023 will be short $220 a year from keeping up with rising costs. The Equal COLA Act is legislation to eliminate this one percent penalty that has been introduced in the House by Rep. Connolly (D-VA) with bipartisan support, and will soon be introduced in the Senate by Senator Padilla (D-CA). Use this form to urge your elected officials to support the Equal COLA Act. https://actionnetwork.org/letters/its-time-for-congress-to-support-the-equal-cola-act