To amend title 5, United States Code, to achieve parity between the cost-of-living adjustment with respect to an annuity under the Federal Employees Retirement System and an annuity under the Civil Service Retirement System, and for other purposes.

Referred to the House Committee on Oversight and Government Reform.

Bill 119 HR 491 aims to make changes to title 5 of the United States Code in order to ensure that the cost-of-living adjustment for annuities under the Federal Employees Retirement System (FERS) is on par with those under the Civil Service Retirement System (CSRS). The bill seeks to achieve parity between the two systems in terms of the adjustments made to annuities to account for changes in the cost of living.

The bill also includes provisions for other purposes related to federal employee retirement benefits. This legislation is important as it aims to ensure fairness and equity in the retirement benefits provided to federal employees under different retirement systems.

Overall, Bill 119 HR 491 seeks to address disparities in cost-of-living adjustments for federal employee annuities and promote equality in retirement benefits for all federal employees.