cost-of-living adjustment

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Related to Cost-of-Living Increase: Cost Of Living Adjustment

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 ?
During the 2016-17 school year, classified employees will have no furlough days and they will get a 2 percent cost-of-living increase, plus a step increase.
The town coordinator, the police chief and the fire chief receive a 4 percent cost-of-living increase annually, according to Mr.
There's an annual cost-of-living increase built in to help you keep up with inflation - except for 1995.
5 percent raises to county government's approximately 200 nonunion employees - the first across-the-board cost-of-living increase for those workers, most of them managers and supervisors, since 2008.
Additionally, a cost-of-living increase has been negotiated for each of the three contract years: a 2 percent pay increase in the first year of the contract, and a 3 percent pay increase in the second and third years of the contract.
While lawmakers did complete work on a cost-of-living increase for veterans' disability compensation and survivors' benefits, a number of bills that were passed by the House Veterans' Affairs Committee were delayed or flocked completely.
5 percent cost-of-living increase during the upcoming school year and again in the 2015-16 school year.
The union is asking for a 2 percent cost-of-living increase and a 3 percent increase to what the district contributes to teachers' monthly health insurance payments.