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Cost-of-Living Adjustment (COLA)

An annual increase in retirement benefits designed to offset the effects of inflation and maintain retirees' purchasing power.

Federal Employees Retirement System (FERS)

A retirement plan for most federal employees hired after 1983, which includes a basic annuity, Social Security, and the Thrift Savings Plan (TSP).

Civil Service Retirement System (CSRS)

An older retirement plan for federal employees hired before 1984, which provides a larger pension but generally does not include Social Security benefits.

Annuity

A fixed sum of money paid to someone each year, typically for the rest of their life, often as part of a retirement plan.

Parity

The state or condition of being equal, especially in status or pay; in this context, ensuring equal COLA treatment for different retirement systems.

Price Index

A measure that shows how much the prices of a basket of goods and services have changed over time, often used to track inflation (e.g., Consumer Price Index).

Title 5, United States Code

The section of U.S. federal law that deals with government organization and employees, including retirement systems.