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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.
(pronounced like the beverage) See cost-of-living adjustment.