downward. The COLA shall be computed using the three month average of the 1992 CPI for July 2004 to September 2004 as the base period. The first COLA will compare the CPI for the base period with the 3 month average for the October 2004 to December 2004 period. COLA payments will be quarterly according to the following schedule: Adjustment Dates: Comparison Periods: February 2005 October 2005 to December 2005 February 2006 October 2006 to December 2006 Formula One cent (1¢) adjustments shall be payable for each 0.0700 change in the 1992 CPI. If the 1992 CPI goes down such that the difference between the base period and the comparison periods is a negative value, the adjustment will be zero (0). COLA will apply to all compensated hours. All COLA payments will be immediately folded into the base wage. In the application of the formula set out in the foregoing, the following provisions shall govern in the calculation of COLA: - The CPI measurement used from November 2005 to October 2006 increase by
Appears in 2 contracts
Sources: Collective Agreement, Collective Agreement
downward. The COLA shall be computed using the three month average of the 1992 CPI for July 2004 to September 2004 as the base period. period The first COLA will compare the CPI for the base period with the 3 month average for the October 2004 to December 2004 period. period COLA payments will be quarterly according to the following schedule: Adjustment Dates: Comparison Periods: February 2005 October 2005 to December 2005 February 2006 October 2006 to December 2006 Formula One cent (1¢) adjustments shall be payable for each 0.0700 change in the 1992 CPI. If the 1992 CPI goes down such that the difference between the base period and the comparison periods is a negative value, the adjustment will be zero (0). COLA will apply to all compensated hours. All COLA payments will be immediately folded into the base wage. In the application of the formula set out in the foregoing, the following provisions shall govern in the calculation of COLA: - The CPI measurement used from November 2005 to October 2006 increase by
Appears in 1 contract
Sources: Collective Agreement