cost-of-living adjustment


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Cost-of-Living Adjustment

An increase to a wage, salary, or pension designed so that the real value remains the same. That is, a cost-of-living adjustment increases the underlying wage, salary, or pension so that it keeps pace with (but does not run ahead of) inflation. Federal pensions and Social Security include cost-of-living adjustments, though few other pensions do.

Cost-of-living adjustment (COLA).

A COLA results in a wage or benefit increase that is designed to help you keep pace with increased living costs that result from inflation.

COLAs are usually pegged to increases in the consumer price index (CPI). Federal government pensions, some state pensions, and Social Security are usually adjusted annually, but only a few private pensions provide COLAs.

cost-of-living adjustment (COLA)

A change in payments, such as rent in subsidized housing, based on a change in the index that measures inflation.

References in periodicals archive ?
But the lack of a cost-of-living adjustment may also mean a double whammy to federal retirees under the Civil Service Retirement System.
An automatic cost-of-living adjustment would, in any case, fail to achieve its primary objective, which is to relieve board members of the awkward task of raising their own pay.
7% increase in their retirement checks in January due to the annual cost-of-living adjustment, while retirees under the newer Federal Employees Retirement System will see the same increase in their Social Security checks.
Here in Oregon property taxes are up an average of 3 percent, and some places are seeing increases close to 8 percent - yet these taxes are not included in the current calculations for the Social Security cost-of-living adjustment.
2056(b)-7(e)(2), the references to a cost-of-living adjustment were disregarded.
The new compensation program includes a yearly salary increase that reflects a cost-of-living adjustment (COLA) and three bonus pools.
If there are no cost-of-living adjustment payments, employees will not pay part of health care costs.
In addition to protecting members' health care and retirement, the agreement provides for annual wage increases and a cost-of-living adjustment.
The House of Representatives, by a vote of 408-0, has passed an annual cost-of-living adjustment (COLA) for veterans and their dependents.
All we're asking for is a decent cost-of-living adjustment.
90 per hour and provide an annual cost-of-living adjustment based on the Consumer Price Index, a change that would ensure that the wage keeps pace with the cost of living.
The new contract now includes USD2,100 in upfront bonuses and a USD1,200 cost-of-living adjustment.