Cost of Living Adjustments (COLAs Sample Clauses
A Cost of Living Adjustment (COLA) clause provides for periodic changes to compensation or payment amounts based on fluctuations in the cost of living, typically measured by a recognized index such as the Consumer Price Index (CPI). This clause ensures that salaries, rents, or other recurring payments remain aligned with inflation or deflation, protecting the real value of payments over time. By automatically adjusting amounts to reflect economic changes, the COLA clause helps maintain purchasing power and fairness for the parties involved.
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Cost of Living Adjustments (COLAs. All eligible members who were hired prior to July 1, 2012 and who retire and begin receiving a pension shall receive a three (3%) compounded cost of living adjustment (COLA) upon all annual pension benefit amounts received. All eligible members who were hired on or after July 1, 2012 and who retire and begin receiving a pension shall receive a cost of living adjustment (COLA) each January 1 upon all annual pension benefit amounts received, which COLA shall be equivalent to the lesser of:
(a) 75% of the prior calendar year’s Consumer Price Index for All Urban Consumers (CPI-U) (but not less than 0%), or (b) three (3%) percent .
Cost of Living Adjustments (COLAs. 1. Effective the first full pay period of January 2016, employees shall receive a COLA equivalent to the CPI-U (All Urban Consumers for U.S. City Average) for the period of December 1, 2014, through November 30, 2015. In no event shall the COLA be less than 1.5% or greater than 6.0%.
2. Effective the first full pay period of January 2017, employees shall receive a COLA equivalent to the CPI-U (All Urban Consumers for U.S. City Average) for the period of December 1, 2015, through November 30, 2016. In no event shall the COLA be less than 1.5% or greater than 6.0%.
3. Effective the first full pay period of January 2018, employees shall receive a COLA equivalent to the CPI-U (All Urban Consumers for U.S. City Average) for the period of December 1, 2016, through November 30, 2017. In no event shall the COLA be less than 2.0% or greater than 6.0%.
4. Effective the first full pay period of January 2019, employees shall receive a COLA equivalent to the CPI-U (All Urban Consumers for U.S. City Average) for the period of December 1, 2017, through November 30, 2018. In no event shall the COLA be less than 2.0% or greater than 6.0%.
5. Effective the first full pay period of January 2020, employees shall receive a COLA equivalent to the CPI-U (All Urban Consumers for U.S. City Average) for the period of December 1, 2018, through November 30, 2019. In no event shall the COLA be less than 2.0% or greater than 6.0%. In addition, the Agency shall conduct a salary survey with its agencies of comparison for classifications included in the Water Systems unit during the first six (6) months of calendar year 2020. The median salary for the agencies of comparison (based upon top step in the salary range for comparable classes) shall be used for salary comparison purposes. Internal salary relationships for classifications for which market salary survey data is unavailable shall be preserved. Implementation of salary adjustments, if warranted, shall be completed by October 1, 2020. For purposes of the survey, the agencies of comparison shall be: City of Folsom El Dorado Irrigation District San ▇▇▇▇ Water District City of Rocklin City of Roseville Nevada Irrigation District Placer County
Cost of Living Adjustments (COLAs. The Legislature may provide funds in recognition of increases to the Cost of Living and may also designate how such funds are to be distributed. For the purposes of this Agreement, the parties agree that any COLA increases shall, to the extent allowed by Legislative intent, be distributed as an across the board increase for all full-time faculty covered by the Agreement. COLA increases equal to those provided to state funded positions will be provided to faculty salary increases regardless of the funding source.
Cost of Living Adjustments (COLAs. The session Hourly Rate defined in Paragraph 8.2 may be adjusted annually based on the increase or decrease in the U.S. Department of Labor, Bureau of Labor Statistics’ Consumer Price Index (CPI) for the Los Angeles-Riverside-Orange County Area for the most recently published percentage change for the 12-month period preceding the agreement anniversary date, which shall be the effective date for any cost of living adjustment. However, any increase shall not exceed the general salary movement granted to County employees as determined by the Chief Administrative Office as of each July 1 for the prior 12- month period. Furthermore, should fiscal circumstances ultimately prevent the Board from approving any increase in County employees’ salaries, no cost of living adjustments will be granted. COLAs shall implemented by Amendment to the Agreement executed by the Sheriff pursuant to Section 6.
Cost of Living Adjustments (COLAs. The Association acknowledges the importance of pay equity for all faculty. WEIA/HB 2158 salary increases for faculty teaching in select high-demand programs align the salaries of those faculty closer to their industry peers. This is important for faculty recruitment, retention, and program success in those areas. The Association frames the following options as to how we use COLAs to address our new faculty salary landscape. When faculty COLAs are approved by the Legislature, the Association will approve one of the following COLA payment options:
Cost of Living Adjustments (COLAs.
5.11.1 If requested by Contractor, the Contract hourly, daily, monthly or Unit Rate amount may at the sole discretion of County, be increased annually based on the most recent published percentage change in the United States Department of Labor, Bureau of Labor Statistics' Consumer Price Index (CPI) for the Los Angeles-Riverside-Orange County area for the 12-month period preceding the Contract anniversary date, which shall be the effective date for any Cost of Living Adjustment (COLA). However, any increase shall not exceed the general salary movement granted to County employees as determined by the Chief Executive Officer as of each July 1 for the prior 12-month period. Furthermore, should fiscal circumstances ultimately prevent the Board of Supervisors from approving any increase in County employee salaries, no COLA will be granted. Where County decides to grant a COLA pursuant to this Subparagraph for living wage contracts, County may, in its sole discretion exclude the cost of labor (including the cost of wages and benefits paid to employees providing Services under this Contract) from the base upon which a COLA is calculated, unless Contractor can show that his/her labor cost will actually increase. Further, before any COLA increase shall take effect and become part of this Contract, it shall require a written amendment to this Contract first, that has been formally approved and executed by the parties. At no time shall any increase in the Contract hourly, daily, monthly or Unit Rate amount, or COLA adjustment, ever result in the Contract Sum exceeding the Maximum Annual Contract Sum or Maximum Contract Sum.
Cost of Living Adjustments (COLAs. If requested by the Subrecipient, the Subaward (hourly, daily, monthly, etc.) amount may at the sole discretion of the County, be increased annually based on the most recent published percentage change in the U.S. Department of Labor, Bureau of Labor Statistics’ Consumer Price Index for Urban Consumers (CPI-U) for the Los Angeles-Long Beach- Anaheim Area for the twelve (12) month period preceding the Subaward anniversary date, which will be the effective date for any Cost of Living Adjustment (COLA). However, any increase must not exceed the general salary movement granted to County employees as determined by the Chief Executive Officer as of July 1 for the prior twelve (12) month period. Furthermore, should fiscal circumstances ultimately prevent the Board from approving any increase in County employee salaries, no COLA will be granted. Where the County decides to grant a COLA pursuant to this paragraph for living wage Subawards, it may, in its sole discretion exclude the cost of labor (including the cost of wages and benefits paid to employees providing services under this Subaward) from the base upon which a COLA is calculated, unless the Subrecipient can show that his/her labor cost will actually increase. Further, before any COLA increase takes effect and becomes part of this Subaward, it will require a written amendment to this Subaward first, that has been formally approved and executed by the parties.
Cost of Living Adjustments (COLAs. All eligible members who retire and begin receiving a pension shall receive a three (3%) compounded cost of living adjustment (COLA) upon all annual pension benefit amounts received.
Cost of Living Adjustments (COLAs. The wage rates on the wage schedule shall be increased each year of the contract on September 1 by the terms of the agreement or at least the rate of the yearly increase in the inflationary adjustment index used by the Washington State Legislature in the Apportionment Act each school years (currently understood as the implicit price deflator or IPD).
Cost of Living Adjustments (COLAs. The IPD is understood to be 1.6% percent. Should the IPD be increased by the Legislature the across-the-board increase shall equal the IPD plus 2% but shall not be greater than six (6%) percent (inclusive of the IPD).