Cost of Living. The cost of living allowance/clause will remain inoperative for the life of this agreement. G-27.1 All employees covered by this Agreement shall be entitled to a cost-of-living allowance based on the following: G-27.2 The amount of cost-of-living allowance shall be determined and redetermined as provided below on the basis of the All Canada Consumer Price Index (C.P.I.) published by Statistics Canada (1971 = 100) and referred to herein as the "Index". G-27.3 The first (1st) pay period in which the cost-of-living allowance, if any, will apply, shall be the second (2nd) pay period in October, 1994, and shall continue in effect until and including the second (2nd) pay period in January, 1995. At that time and thereafter, adjustments in the cost-of-living allowance shall be made quarter-annually on the basis of the changes in the Index as follows: Effective date of adjustment - the second pay period in October, 1994, and at quarterly intervals thereafter based upon: As of September 1994, and as of quarterly intervals thereafter, as follows: READ INDEX PAY - September, 1994 2nd pay period in October 1994 - December, 1994 2nd pay period in January 1995 - March, 1995 2nd pay period in April 1995 The amounts of cost-of-living generated by the above readings will be deemed to be folded into the base rates where C.O.L.A. applies. G-27.4 In the event that Statistics Canada shall not issue the appropriate Index on or before the first (1st) week of the month following the pay period referred to in the above table, any adjustment in the allowance required by such Index shall be effective at the beginning of the first (1st) pay period after receipt of such Index. G-27.5 No adjustment retroactive or otherwise shall be made in the amount of the cost-of-living allowance due to any revision which later may be made in the published figures for the Index for any month on the basis of which the allowance has been determined. G-27.6 The amount of the cost-of-living allowance which shall be effective for any such quarterly period shall be determined in accordance with a table set up using the June, 1994, Consumer Price Index as a start of the table and continuing with a .25 increase equaling zero and thereafter a one cent or 2 Mill adjustment for each true .35 point change in the Index. G-27.7 The cost-of-living allowance shall not be added to the base rates for any classification, but only to each employee's straight-time hourly or mileage earnings. G-27.8 A decline in the Index...
Cost of Living. Adjustments of three percent (3%) on the original base retirement pay shall be made annually for the first five (5) years following an employee's retirement. The initial cost of living adjustment shall be payable in the next retirement payment after the completion of one (1) full year of retirement. Cost of living adjustments are not included in computing the retirement allowance financed by the Employer.
Cost of Living. The amount of pension payable to each qualified retiree whose service to the City has terminated and who has reached fifty (50) years of age with 15 years minimum service, shall be increased by 5% of the amount of the pension benefit which the participant is entitled to receive, when such benefit first becomes payable. Each January 1 thereafter the pension benefit shall be increased by the same dollar amount for a period of fifteen (15) years. If exercising the early retirement provision, the 5% COLA will begin at the age of 55 for a period of fifteen (15) years.
Cost of Living. Employees covered by this Agreement shall receive Cost of Living Adjustments to the extent such adjustments become effective under and in accordance with all of the terms, conditions and limitations stated in this Section 6.4. Seniority employees will be eligible to receive COLA increases as defined below. This payment will be based on months of active service and prorated accordingly. COLA calculations will be cumulative from each six (6) month period to six (6) month period.
Cost of Living. If the cost of living, as measured by the Consumer Price Index (CPI) issued by the United States Department of Labor, Urban Consumers, U. S. City Average, average to average change has increased above six percent (6%) for the 12-month period ending on the last day of December of any of the contractual years, each employee will receive, prior to the end of the fiscal year, a cost of living stipend independent of the base salary which is equivalent to one percent (1%) of the median salary of all members of the Professional Support Staff unit for each one percent (1%) increase in the CPI, or fraction thereof, between six percent (6%) and ten percent (10%). To be eligible to receive the cost of living stipend, the employee must be employed through December 31 of the index year. Employees assuming their responsibilities before July 1 of the index year will receive the full stipend, while those assuming their responsibilities between July 1 and December 31 will receive one- half (1/2) of the stipend. Example: If the CPI between December, 1988 (as made available in January, 1989) and December, 1989 (as made available in January, 1990) increases 7.6%, the cost of living stipend will be determined by multiplying 1.6% times the medial salary for the 1988-1989 fiscal year. If the median salary were $32,000.00, the cost of living stipend would be $512.00 and said stipend would be paid prior to the end of the 1989-1990 year.