According to Section 9.3, Cost of Living Adjustment:
A. Definitions
1. "Consumer Price Index" refers to the "National Consumer
Price Index for Urban Wage Earners and Clerical Workers," published by the Bureau of Labor Statistics, United
States Department of Labor (1967=100) and referred to herein as the "Index."
2. "Consumer Price Index Base" refers to the Consumer Price Index for the month of July 2014 and is referred to herein as the "Base Index."
B. Effective Dates of Adjustment:
Each eligible employee covered by this Agreement shall receive cost-of-living adjustments, upward, in accordance with the formula in 4.C, below, effective on the following dates:
- the second full pay period after the release of the January 2018 Index (More reading here)... .
Note: The BLS states the release date of the January 2018 CPI data are scheduled to be released on February 14, 2018, at 8:30 A.M. Eastern Time.
Thus, in the event CPI has risen to the level needed to garner a COLA based on the aforementioned information, the next COLA would be in March checks since the January 2018 CPI data are scheduled to be released on February 14, 2018.
Friday, January 26, 2018
When is the next 'Cost of Living Adjustment' calculated?
When is the next 'Cost of Living Adjustment' calculated?
