COST OF LIVING ALLOWANCE Sample Clauses

COST OF LIVING ALLOWANCE. 29:01 All employees within the Bargaining Unit shall be paid a cost of living allowance based on the cost of living formula as set forth below: The cost of living allowance will be determined in accordance with changes in the Consumer Price Index, published by Statistics Canada (1961 = 100) and hereinafter referred to as the Consumer Price Index. The base Consumer Price Index shall be the Consumer Price Index for February 2016. The first (1st) cost of living adjustment shall be based on the Consumer Price Index of May, 2016, and each three (3) months thereafter compared to the base Consumer Price Index for February 2016. Cost of living adjustments shall be made on pay periods commencing 11:59 p.m. on the following dates: July 5, 2016; October 11, 2016; January 17, 2017; and April 10, 2017. The cost of living rate adjustment shall be One ($0.01) Cent per hour for each point five (.5) change in the Consumer Price Index. The cost of living allowance will be adjusted up or down if and as required for each quarterly period in accordance with the above mentioned formula, provided, however, that in no event will a decline in the Consumer Price Index below the figure as recorded for February, 2016, minus 2.5 points provide a basis for further reduction in the straight time rates set forth in Schedule "A" of the within Agreement. The amount of cost of living Allowance in effect at any time shall be included in computing vacation pay, holiday pay, call-in pay, sick pay, paid leave of absence and Workplace Safety Insurance Board payments. The amount of cost of living allowance shall be included in computing overtime pay except that there shall be no pyramiding as stated in clause 19:06 of the within Agreement. As of June 30, 2016, the cost of living rate adjustment less Five ($0.05) Cents* will be added to the base rates set forth in Schedule "A" in order to create new base rates - said new base rates to be effective as of July 1, 2016. Upon creation of new base rates as provided in the preceding paragraph, a new base Consumer Price Index shall be established and shall be calculated as being the Consumer Price Index for February 2016 minus 2.5 points. This article shall be frozen during the life of the Collective Agreement and no monies will be generated or paid during the term of the Collective Agreement. *The Five ($0.05) Cents referred to was folded into the Base Hourly Wage Rates noted in Schedule “A” effective July 1, 1986. The University of Windsor and C.U.P.E....
AutoNDA by SimpleDocs
COST OF LIVING ALLOWANCE. The City’s contract with XxxXXXX provides the benefit known as the 2% Cost of Living Allowance Increase as set forth in Government Code section 21329.
COST OF LIVING ALLOWANCE. (COLA) a) Effective on the first pay period on or after Nov 1, and quarterly thereafter during the term of this agreement, a cost of living allowance calculated as set forth in this section shall be made. b) The amount of cost of living adjustment (COLA) shall be determined in accordance with the in- creases or decreases in the Consumer Price Index, 2002 =100, hereafter referred to as the “2002 CPI.” c) In determining the three (3) month average of the indexes for a specified period, the computed average shall be rounded to the nearest 0.1 index point (i.e. 0.05 and greater rounded upward and less than 0.05 rounded downwards. d) The COLA shall be computed using the three (3) month average of the 2002 CPI for Apr, May, and Jun 2020 as the base period. The current COLA amount of $2.56 will be rolled into the base wage. e) COLA adjustments will be made on a quarterly basis at the following times: Date of implementation Based upon the three month average of: 1st pay period beginning on or after Nov 1, 2020 Jul, Aug, Sep 2020 1st pay period beginning on or after Feb 1, 2021 Oct, Nov, Dec 2020 1st pay period beginning on or after May 1, 2021 Jan, Feb, Mar 2021 1st pay period beginning on or after Aug 1, 2021 Apr, May, Jun 2021 And so on at three (3) calendar month intervals thereafter. f) One cent ($0.01) adjustments in the cost of living allowance shall be made payable for each 0.0954 change in the 2002 CPI. g) In the event Statistics Canada ceases monthly publication of the Consumer Price Index or changes the form or the basis of calculating the index, the parties agree to ask Statistics Canada to make available for the life of this agreement, a monthly index in its present form h) No adjustments, retroactive or otherwise shall be made due to any revision which may later be made in the published Statistics Canada CPI. i) The amount of any COLA in effect at any time shall not form part of an employee’s base rate and shall not be included in computing overtime or other premium pay. COLA adjustments will be excluded from calculations pertaining to group welfare benefits. j) The Cost of Living allowance will not exceed $0.50 over the life of this agreement.
COST OF LIVING ALLOWANCE. NOTE: The provisions of this Section 14.11 shall remain inoperative during calendar year 1992 and no cost of living allowance shall be computed, paid or become payable or owing in respect of calendar year 1992. (a) The C.P.I. published for March 1993 shall be compared with the C.P.I. published for December 1992 and effective the pay period immediately following the publication of the March 1993 C.P.I., the allowance, if triggered, shall be one (1) cent per hour worked for each zero point two six five (0.265) increase in excess of 4% by which the March 1993 C.P.I. exceeds the December 1992 C.P.I. (b) Such allowance, if any, shall continue until the publication of the C.P.I. for June 1993. If the June 1993 C.P.I. exceeds by more than 4% the figure published for December 1992, effective the pay period immediately following the publication of the June 1993 C.P.I., the allowance, if triggered, shall be one (1) cent per hour worked for each zero point two six five (0.265) increase in excess of 4% by which the June 1993 CPI exceeds the December 1992 C.P.I. (c) A similar comparison shall be made thereafter on the basis of the
COST OF LIVING ALLOWANCE. Not in Force for Term of Present Collective Agreement: 35.01 If the November 1993 Consumer Price Index (C.P.I.) exceeds the C.P.I. for November 1992 by more than 3.0%, then all basic rates of pay in effect at January 31, 1994 will be increased effective in February 1994 by a percentage figure equal to the difference between the percentage increase in the C.P.I. and 3.0%. 35.02 If the November 1994 Consumer Price Index (C.P.I.) exceeds the C.P.I. for November 1993 by more than 2.0%, then all basic rates of pay in effect at January 31, 1995 will be increased effective in February 1995 by a percentage figure equal to the difference between the percentage increase in the C.P.I. and 2.0%. 35.03 The C.P.I. used for purposes of this Article shall be the C.P.I. - Canada All Items (1986=100) as published by Statistics Canada or any successor Department or Agency. 35.04 Should the C.P.I. be amended or discontinued prior to January 1995, the parties agree to consult to determine a means to give effect to the intention of this Article.
COST OF LIVING ALLOWANCE. A Cost of Living Allowance in a lump sum payment will be paid to regular employees for all hours worked, including vacation and plant holidays [in each calendar year on the first pay period following publication of the December Consumer Price Index (1971=100)] on the basis of $.01 per hour for each full .3 change in the CPI in the year calculated by subtracting the CPI (1971=100) for the month of December from the CPI for the month of December of the previous year after adding 4.5% to that previous year’s December CPI index.
COST OF LIVING ALLOWANCE. During the Term of Employment, the Company shall pay the Executive a monthly cost of living allowance of $10,000.
AutoNDA by SimpleDocs
COST OF LIVING ALLOWANCE. The following Article 29 on the Cost of Living Allowance is suspended for the duration of the Collective Agreement and will not provide or accumulate any monetary payment during said term. Effective January 1977, and continuing until the termination of this Agreement, the Company will pay a cost of living allowance (C.O.L.A.) premium to employees who have established seniority within the Bargaining Unit. 29:01 The Consumer Price Index as published by Statistics Canada in 1961 = 100 shall constitute the controlling index numbers for all calculations of the C.O.L.A. premium. 29:02 During the period of this Agreement, if Statistics Canada revise the base year 1961 = 100, the Company and the Union will meet and determine a conversion factor which would equitably adjust the present base to an amended base or request Statistics Canada to provide an appropriate conversion factor. In this event, the amended base will replace the base index as described in Section 29:01. 29:03 The base index figure will be the September 1976 Consumer Price Index. The index for December 1976, and each subsequent calendar quarter to the termination of this Agreement will have subtracted from it the base, to yield the quarterly differential. 29:04 The C.O.L.A. premium will be paid based on all hours worked commencing with the pay period immediately following the publication of the December 1976 Consumer Price Index. The monetary amount of the premium shall not form part of an employee’s applicable hourly rate nor will it exceed forty-five cents (45¢) per hour. 29:05 The C.O.L.A. premium calculation will be formulated such that one cent ($0.01) will be paid for each full zero point four (0.4) points of quarterly index differential obtained in 29:03. No adjustment, retroactive or otherwise shall be made to the value of the premium due to any revision which may be made at a date subsequent to the publication of the Consumer Price Index of Statistics Canada. 29:06 No premium shall be paid for a quarter in which the average quarterly index is equal to or less than the base index number stated in 29:03. Continuance of the premium is dependent upon the availability of the Consumer Price Index as published by Statistics Canada.
COST OF LIVING ALLOWANCE. Effective October 1, 2001 COLA will recommence. The base for this purpose shall be the CPI index for May, 2001. COLA adjustments, commencing October 1, 2001 will be determined by comparing the average index for the previous applicable three-month period to the base described above, payable on a quarterly basis. The formula provides a one cent (1¢) adjustment for each 0.125 change in the average Consumers Index (1992 = 100). The COLA adjustment will be folded into the base wage rates as they become payable. There will be no reduction in hourly rates should there be a decrease in the CPI. In the event that Statistics Canada ceases to publish the monthly CPI in its present form, such change shall be the subject of discussion by the parties prior to amending their provision.
COST OF LIVING ALLOWANCE. 34.01 (a) For Wage Schedules 1 and 3, if the June 2007 Consumer Price Index (C.P.I.) exceeds the C.P.I. for June 2006 by more than 2.0%, then all basic rates of pay in effect at August 31, 2007 will be increased effective September 1, 2007 by a percentage figure equal to the difference between: (i) the percentage by which the June 2007 C.P.I. exceeds the June 2006 C.P.I. and (ii) 2.0% to a maximum of 1.0% of basic rates of pay. (b) For Wage Schedule 2, if the June 2007 Consumer Price Index (C.P.I.) exceeds the C.P.I. for June 2006, then all basic rates of pay in effect at August 31, 2007 will be increased effective September 1, 2007 by a percentage figure equal to the difference between the percentage by which the June 2007 C.P.I. exceeds the June 2006 C.P.I. to a maximum of 1.0% of basic rates of pay.
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!