upward change in an employee's compensation because of inflation. The adjustment is typicallybased on a price index such as the Consumer Price Index, Wholesale Price Index, and Gross National Product Index. COLA is sometimes built into labor contracts.
adjustment of wages designed to offset changes in the cost of living, usually as measured by the Consumer Price Index. COLAs are key bargaining issues in labor contracts and are politically sensitive elements of Social Security payments and federal pensions because they affect millions of people.
adjustment of wages designed to offset changes in the cost of living, usually as measured by the Consumer Price Index. COLAs are key bargaining issues in labor contracts and are politically sensitive elements of Social Security payments and federal pensions because they affect millions of people.
automatic adjustment applied to Social Security retirement payments when the consumer price index increases at a rate of at least 3%, the first quarter of one year to the first quarter of the next year.
