Common use of Cost of Living Clause in Contracts

Cost of Living. There will be a cost-of-living allowance calculated on hours worked as follows: An Increase of one (1) cent per hour worked for each rise of .062 points in the Consumer Price Index or a decrease of one (1) cent per hour worked for each drop of .062 points in the Consumer Price Index. When CPI changes would result in a decrease in the total COLA payable, it is agreed and understood that the total COLA payable will be maintained at the level in effect prior to the decrease in CPI in exchange for future offsets. These offsets will take the form of postponing any new COLA generated until such time that the CPI used for any an adjustment date exceeds the CPI that generated the last positive COLA payment. The cost-of-living allowance will be established in accordance with changes in the official Consumer Price Index published by Statistics Canada (2002=100) and hereinafter referred to as the Consumer Price Index which was 112.1 as of June 2007 (May 2007). In no event will a decrease in the Consumer Price Index reduce the contract rates listed in the attached wage schedule outlined in Article 14. The amount of any cost-of-living allowance in effect at any time shall be included in computing overtime pay, jury duty pay and funeral time pay. Index is to be reviewed each quarter commencing January 2014. Revision in cost-of-living allowance will take effect the first of the pay period commencing after Index publication. The continuance of the cost-of-living allowance shall be contingent upon the availability of the official monthly Statistics Canada Consumer Price Index in its present form and calculated on the same basis as the Index published January 25, 2014, unless otherwise agreed upon by the parties. In the event the form or basis of the Index is changed, the parties agree to request said Statistics Canada to continue to furnish, for the term of this agreement, the Index in its present form and calculated on the same basis as the Index published January 25, 2014. Fold in all existing COLA adjustments into wages up to and including adjustment #12 (October 2017).

Appears in 2 contracts

Samples: sp.ltc.gov.on.ca, www.sdc.gov.on.ca

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Cost of Living. There cost of living will remain inop- erative for the life of this agreement. All employees covered by this Agreement shall be entitled to a cost-of-living allowance calculated based on hours worked as followsthe following: An Increase The amount of one (1) cent per hour worked for each rise of .062 points in the Consumer Price Index or a decrease of one (1) cent per hour worked for each drop of .062 points in the Consumer Price Index. When CPI changes would result in a decrease in the total COLA payable, it is agreed and understood that the total COLA payable will be maintained at the level in effect prior to the decrease in CPI in exchange for future offsets. These offsets will take the form of postponing any new COLA generated until such time that the CPI used for any an adjustment date exceeds the CPI that generated the last positive COLA payment. The cost-of-living allowance will shall be established in accordance with changes in determined and redetermined as provided below on the official basis of the All Canada Consumer Price Index published by Statistics Canada (2002=100) 1971 = and hereinafter referred to herein as the Consumer Price "Index". The first (1st) pay period in which the living allowance, if any, will apply, shall be the second (2nd) pay period in October, and shall continue in effect until and including the second (2nd) pay period in January, 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 which was 112.1 as follows: Effective date of adjustment the second pay period in October, and at quarterly inter- vals thereafter based upon: As of September and as of June 2007 (May 2007)quarterly intervals thereafter, as follows: READ September, December, 2nd pay period in October 2nd pay period in January 2nd pay period in April The amounts of cost-of-living by the above readings will be deemed to he folded into the base rates where applies. In no the event will a decrease that Statistics Canada shall not issue the appropriate Index on or before the first week of the month following the pay period referred to in the Consumer Price Index reduce the contract rates listed above table, any adjustment in the attached wage schedule outlined allowance required by such Index shall be effective at the beginning of the first (1st) pay period after receipt of such Index. No adjustment retroactive or otherwise shall be made in Article 14. The the amount of any the cost-of-living allowance due to any revision which later may be made in effect at the published figures for the Index for any time shall be included in computing overtime pay, jury duty pay and funeral time paymonth on the basis of which the allowance has been determined. Index is to be reviewed each quarter commencing January 2014. Revision in The amount of the cost-of-living allowance will take effect which shall be effective for any such quarterly period shall be determined in accordance with a table set up using the first June, Consumer Price Index as a start of the pay period commencing after table and continu- ing with a increase equaling zero and a one cent or Mill adjustment for each in Index. cost-of-living allowance shall not to the base rates for any classification, but only to each straight-time hourly or mileage earnings. A decline in Index publicationbelow the reading shall not result in a reduction of clas- sification base rates. The continuance Continuance of the cost-of-living allowance shall be contingent upon the availability continued avail- ability of the official monthly Statistics Canada Consumer Price Index in its present form and calculated on the same basis as the Index published January 25, 2014, unless otherwise agreed upon by the parties. In the event the form or basis of the Index is changed, the parties agree to request said Statistics Canada to continue to furnish, for the term of this agreement, the Index in its present form and calculated on the same basis as the Index published January 25, 2014. Fold in all existing COLA adjustments into wages up to and including adjustment #12 (October 2017).of

Appears in 2 contracts

Samples: Agreement, Agreement

Cost of Living. There will be a cost-of-living allowance calculated on hours worked as follows: An Increase of one (1) cent per hour worked for each rise of .062 .074 points in the Consumer Price Index or a decrease of one (1) cent per hour worked for each drop of .062 .074 points in the Consumer Price IndexIn- dex. When CPI changes would result in a decrease in the total COLA payable, it is agreed and understood under- stood that the total COLA payable will be maintained at the level in effect prior to the decrease in CPI in exchange for future offsets. These offsets will take the form of postponing any new COLA generated generat- ed until such time that the CPI used for any an adjustment date exceeds the CPI that generated the last positive COLA payment. The cost-of-living allowance will be established in accordance with changes in the official Consumer Price Index published by Statistics Canada (2002=1001992=100) and hereinafter referred to as the Consumer Price Index which was 112.1 139.9 as of June 2007 January 2011 (May 2007December 2010). In no event will a decrease in the Consumer Price Index reduce the contract rates listed in the attached wage schedule outlined in Article 14. The amount of any cost-of-living allowance in effect at any time shall be included in computing overtime over- time pay, jury duty pay and funeral time pay. Index is to be reviewed each quarter commencing January 20142011. Revision in cost-of-living allowance allow- ance will take effect the first of the pay period commencing after Index publication. The continuance of the cost-of-living allowance shall be contingent upon the availability of the official monthly Statistics Canada Consumer Price Index in its present form and calculated on the same basis as the Index published January 25, 20142011, unless otherwise agreed upon by the parties. In the event the form or basis of the Index is changed, the parties agree to request said Statistics Canada to continue to furnish, for the term of this agreement, the Index in its present form and calculated on the same basis ba- sis as the Index published January 25, 20142011. Fold in all existing COLA adjustments into wages up to and including adjustment #12 (October 20172010).

Appears in 1 contract

Samples: sp.ltc.gov.on.ca

Cost of Living. There The cost of living will remain inopera- tive for the life of this agreement. All employees covered by this Agreement shall be entitled to a cost-of-living allowance calculated based on hours worked the following: The amount of cost-of-living allowance shall be determined and re-determined as pro- vided below on the basis of the All Consumer Price Index published by Statistics Canada = 100) and referred to herein as the “Index”. The first (1st) pay period in which the of-living allowance, if any, will apply, shall the second (2nd) pay period in October, and shall continue in effect until and including the second (2nd) pay period in January, At that time and thereafter, adjustments in the cost-of-living allowance shall be made annually on the basis of the changes in the Index as follows: An Increase Effective of one adjustment the second pay period in October, and at quarterly inter- thereafter based upon: As of September and as of quarterly in- tervals thereafter, as follows: INDEX September, December, March, 2nd pay period in October 2nd pay period in January 2nd pay period in April The amounts of cost-of-living generated by the above readings will be deemed to be folded into the base rates where applies. In the event that Statistics Canada shall not is- sue the appropriate Index on or before the first (11st) cent per hour worked for each rise week of .062 points the month following the pay pe- riod referred to in the above table, any adjust- ment in the allowance required by such Index shall be effective at the beginning of the first (1st) pay period after receipt of such Index. No adjustment retroactive or otherwise shall be made in the amount of the cost-of-living allow- ance 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. 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, Consumer Price Index as a start of the table and con- tinuing with a increase equaling zero and thereafter a one cent or a decrease of one (1) cent per hour worked Mill adjustment for each drop of .062 points true point change in the Consumer Price Index. When CPI changes would result in a decrease in the total COLA payable, it is agreed and understood that the total COLA payable will be maintained at the level in effect prior to the decrease in CPI in exchange for future offsets. These offsets will take the form of postponing any new COLA generated until such time that the CPI used for any an adjustment date exceeds the CPI that generated the last positive COLA payment. The cost-of-living allowance will shall not be established in accordance with changes add- ed to the base rates for any classification, but only to each employee’s straight-time hourly or mileage earnings. A decline in the official Consumer Price Index published by Statistics Canada (2002=100) and hereinafter referred to as below the Consumer Price Index which was 112.1 as June, reading shall not result in a reduction of June 2007 (May 2007)clas- sification base rates. In no event will a decrease in the Consumer Price Index reduce the contract rates listed in the attached wage schedule outlined in Article 14. The amount of any cost-of-living allowance in effect at any time shall be included in computing overtime pay, jury duty pay and funeral time pay. Index is to be reviewed each quarter commencing January 2014. Revision in cost-of-living allowance will take effect the first of the pay period commencing after Index publication. The continuance Continuance of the cost-of-living allowance shall be contingent upon the availability continued avail- ability of the official monthly Statistics Canada Consumer Price Index in its present form and calculated on the same basis as the Index published January 25, 2014, unless otherwise agreed upon by the parties. In the event the form or basis of the Index is changed, the parties agree to request said Statistics Canada to continue to furnish, for the term of this agreement, the Index in its present form and calculated on the same basis as the Index published January 25, 2014. Fold in all existing COLA adjustments into wages up to and including adjustment #12 (October 2017).June,

Appears in 1 contract

Samples: Agreement

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Cost of Living. There will Hourly wage rates shall be a subject to quarterly cost-of-living allowance calculated on hours worked as follows: An Increase of one (1) cent per hour worked for each rise of .062 points in adjustments. Each adjustment shall be based upon a comparison between the Consumer Price Index or (1992=100) for the end of September, 1999 and the equivalent index for the end of December, 1999 and quarterly, thereafter, for the duration of this Agreement. The quarterly adjustments shall be calculated on a decrease formula of one cent (1$0.01) cent per hour worked for each hour worked during the respective quarter for each point zero eight nine six (.0896) of a point increase between the relevant monthly index and the base index for the month of September, 1999 which is established at 111.4. Adjustments shall be made upwards or downwards except that a drop of .062 points in the Consumer Price Index. When CPI changes would index below the index figure of September 1999 shall not result in a decrease in the total COLA payable, it is agreed and understood that the total COLA payable will be maintained at below the level of hourly rates in effect prior to the decrease in CPI in exchange for future offsets. These offsets will take the form of postponing any new COLA generated until such time that the CPI used for any an adjustment date exceeds the CPI that generated the last positive COLA paymentOctober 1, 1999. The cost-of-living allowance will be established in accordance with changes in the official Consumer Price Index published by Statistics Canada (2002=100) and hereinafter referred to as the Consumer Price Index which was 112.1 as of June 2007 (May 2007). In no event will a decrease in the Consumer Price Index reduce the contract rates listed in the attached wage schedule outlined in Article 14. The amount of any cost-of-living allowance in effect at any time shall be included in computing overtime pay, jury duty pay and funeral time pay. Index is to be reviewed each quarter commencing January 2014. Revision in cost-of-living allowance will take effect the first of the pay period commencing after Index publication. The continuance payment of the cost-of-living allowance formula shall be contingent upon the availability of the official monthly Statistics Canada Consumer Price Index in its present form and calculated made to all employees who are actively employed on the same basis last day of each quarter and be paid on that next regular pay cheque and be taxed as a separate amount at twenty-five (25%) percent within three (3) weeks after the Index published January 25, 2014, unless otherwise agreed upon publication date by the partiesStatistics Canada. In the event that Statistics Canada either discontinues publication of the current Consumer Price Index (Canada wide all items 1992=100) or changes the form or basis and/or method of calculation of the Index is changedindex and publishes a new monthly index which differs from that defined previously in this Article, the parties agree Company and the Union shall enter into immediate negotiations with respect to request said Statistics Canada to continue to furnish, for maintaining the term full protection originally intended by the negotiation of this provision. If the parties are unable to agree, this dispute will be submitted to final and binding arbitration as provided in the collective agreement. The result of the quarterly cost-of-living shall be paid to those employees referred to for each hour worked in the specific period. Such hours to be included as hours worked are: • Normal hours actually worked • Overtime hours actually worked • Statutory holiday hours, if pay for such is authorized • Bereavement hours, if pay for such is authorized • Jury duty hours, if pay for such is authorized • Reporting or call back hours • Vacation pay hours • Hours paid as a result of the Index in its present form and settlement of a grievance In the case of employees who are laid off by the Company, resign or an employee who is retired or retires, then such employee will have the cost of living formula calculated on the same basis of hours worked in the period in question. In the case of the demise of an employee, such payment of any monies due shall be forwarded to the stated beneficiary. This cost-of-living formula will not be added to or form part of the regular earnings, will not include and apply to any benefit plan which involves payment in lieu of work performed, any premium payments or shall it apply to probationary employees who are terminated or who resign. With respect to the present COLA amount of one hundred fifty six (156) cents per hour announced October 24, 2006, eighty-four ($0.84) cents per hour shall be rolled into the new remaining seventy two (72) cents shall become the current COLA float. RSPP effective January 1, 2006 as provided and subject to the Index published limitations in Article 16(a) and the COLA shall continue as per provisions within the collective bargaining agreement. As referred to above, COLA float effective January 251, 2014. Fold in all existing COLA adjustments into wages up to and including adjustment #12 2006 shall be seventy two (October 2017).72) cents and

Appears in 1 contract

Samples: Agreement

Cost of Living. There The cost of living will remain inopera- tive for the life of this agreement. All employees covered by this Agreement shall be entitled to a cost-of-living allowance calculated based on hours worked the following: The amount of cost-of-living allowance shall be determined and re-determined as pro- vided below on the basis of the All Consumer Price Index published by Statistics Canada = 100) and referred to herein as the “Index”. The first (1st) pay period in which the of-living allowance, if any, will apply, shall the second (2nd) pay period in October, and shall continue in effect until and including the second (2nd) pay period in January, At that time and thereafter, adjustments in the cost-of-living allowance shall be made annually on the basis of the changes in the Index as follows: An Increase Effective of one adjustment the second pay period in October, and at quarterly inter- thereafter based upon: As of September and as of quarterly in- tervals thereafter, as follows: INDEX September, December, March, 2nd pay period in October 2nd pay period in January 2nd pay period in April The amounts of cost-of-living generated by the above readings will be deemed to be folded into the base rates where applies. In the event that Statistics Canada shall not is- xxx the appropriate Index on or before the first (11st) cent per hour worked for each rise week of .062 points the month following the pay pe- riod referred to in the above table, any adjust- ment in the allowance required by such Index shall be effective at the beginning of the first (1st) pay period after receipt of such Index. No adjustment retroactive or otherwise shall be made in the amount of the cost-of-living allow- ance 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. 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, Consumer Price Index as a start of the table and con- tinuing with a increase equaling zero and thereafter a one cent or a decrease of one (1) cent per hour worked Mill adjustment for each drop of .062 points true point change in the Consumer Price Index. When CPI changes would result in a decrease in the total COLA payable, it is agreed and understood that the total COLA payable will be maintained at the level in effect prior to the decrease in CPI in exchange for future offsets. These offsets will take the form of postponing any new COLA generated until such time that the CPI used for any an adjustment date exceeds the CPI that generated the last positive COLA payment. The cost-of-living allowance will shall not be established in accordance with changes add- ed to the base rates for any classification, but only to each employee’s straight-time hourly or mileage earnings. A decline in the official Consumer Price Index published by Statistics Canada (2002=100) and hereinafter referred to as below the Consumer Price Index which was 112.1 as June, reading shall not result in a reduction of June 2007 (May 2007)clas- sification base rates. In no event will a decrease in the Consumer Price Index reduce the contract rates listed in the attached wage schedule outlined in Article 14. The amount of any cost-of-living allowance in effect at any time shall be included in computing overtime pay, jury duty pay and funeral time pay. Index is to be reviewed each quarter commencing January 2014. Revision in cost-of-living allowance will take effect the first of the pay period commencing after Index publication. The continuance Continuance of the cost-of-living allowance shall be contingent upon the availability continued avail- ability of the official monthly Statistics Canada Consumer Price Index in its present form and calculated on the same basis as the Index published January 25, 2014, unless otherwise agreed upon by the parties. In the event the form or basis of the Index is changed, the parties agree to request said Statistics Canada to continue to furnish, for the term of this agreement, the Index in its present form and calculated on the same basis as the Index published January 25, 2014. Fold in all existing COLA adjustments into wages up to and including adjustment #12 (October 2017).June,

Appears in 1 contract

Samples: Agreement

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