COLA Adjustment. The provincial parties agree that in determining the level of any Cost of Living Adjustments (COLAs) that will be paid out starting on the first pay period after July 1, 2023 and July 1, 2024, respectively, the "annualized average of BC CPI over twelve months” in paragraph 2 of the Provincial Framework Agreement means the Latest 12-month Average (Index) % Change reported by BC Stats in March for British Columbia for the twelve months starting at the beginning of March the preceding year and concluding at the end of the following February. The percentage change reported by BC Stats that will form the basis for determining any COLA increase is calculated to one decimal point. The Latest 12-month Average Index, as defined by BC Stats, is a 12-month moving average of the BC consumer price indexes of the most recent 12 months. This figure is calculated by averaging index levels over the applicable 12 months. The Latest 12-month Average % Change is reported publicly by BC Stats in the monthly BC Stats Consumer Price Index Highlights report. The BC Stats Consumer Price Index Highlights report released in mid-March will contain the applicable figure for the 12-months concluding at the end of February. For reference purposes only, the annualized average of BC CPI over twelve months from March 1, 2021 to February 28, 2022 was 3.4%.
COLA Adjustment. At the beginning of each calendar year of this Agreement, commencing with January 1, 2006, and on such date each year thereafter (the "Adjustment Date"), the Base Salary shall be increased in accordance with the increase, if any, in the cost of living during the preceding one year as determined by the percentage increase in the Consumers Price Index-All Urban Consumers (U.S. City Average/all items) published by the Bureau of Labor Statistics of the U.S. Department of Labor (the "Index"). The average Index for calendar years 2003 and 2004 shall be considered the "Base." The Base Salary for the calendar year following each Adjustment Date shall be the Base Salary specified in Paragraph 4(b) increased by the percentage increase, if any, in the Index for the calendar year immediately preceding the Adjustment Date over the Base. In the event the Index shall cease to be published or the formula underlying the Index shall change materially from the formula used for the Index as of the date hereof, then there shall be substituted for the Index such other index of similar nature as is then generally recognized and accepted. In no event shall the Base Salary during each adjusted calendar year be less than that charged during the preceding year of this Agreement.
COLA Adjustment. COLA adjustments will be fully funded by the employees with the Town providing an initial actuarial study.
COLA Adjustment. Effective July 1, 2015 and July 1 of each year from July 1, 2015 through June 30, 20189 a COLA adjustment percentage increase shall be computed which shall not be less than 2% nor more than 5%. The COLA Adjustment percentage shall be determined by the rolling ten (10)-year average in the CPI-U for the Boston-Brockton-Nashua--MA-NH-ME-CT all items index as computed by the Bureau of Labor Statistics of the U.S. Department of Labor for the ten (10) most recent calendar years preceding the July 1 adjustment. BLS’s calendar year for this index is November through November, it is not published on a December to December basis. The reference base is 1982-1984 equals 100 until BLS updates the reference base at which time the parties agree to adopt the official reference based as used by BLS. Thus if the rolling ten (10)-year average CPI-U for the Boston SMSA (November 2003 – November 2004) is 1.5% the applicable COLA adjustment would be 2%; if it is 3.5% the applicable COLA adjustment would be 3.5%; if it is 5.5% the applicable COLA adjustment would be 5.0%. Applicability After Contract Expires: It is clearly understood that in the event that the three year Working Agreement expires without a successor Working Agreement being settled prior to July 1, 20189 that no further COLA adjustments after July 1, 20178 will be generated under the Working Agreement even though the Working Agreement has an evergreen clause. It is further agreed that continuation of COLA adjustments are not to be deemed “status quo” as the term has been used by the PELRB in the event that a successor agreement has not been settled by July 1, 20189. Therefore the salary schedule effective 2015/16 will read as follows: Position Days 2015-16 CTE Director 210 $85,893 RJA Principal 217 $86,806 Large Elementary Principals 230 $98,305 High School Assistant Principals 210 $85,893 Middle School Principal 230 $102,651 High School Principal 230 $110,892 Middle School Asst. Principal 210 $85,893 Director of School Nutrition 211 $81,467 Special Ed/Assistant Principal LH 210 $79.538 Director of Pupil Support and Instruction 230 $97,186 Administrators will increase their work year by one (1) days in 2009-10 and an additional day in 2012- 13. Starting in the 2016-2017 school year, the parties will create a joint labor/management committee to study and make recommendations about possible performance based compensation systems for the Administrators’ bargaining unit, utilizing data from the implementation of the ...
COLA Adjustment. Commencing with January 1, 2012 and at the beginning of each calendar year of this Agreement thereafter (each an “Adjustment Date”), Executive’s Base Salary shall be increased in accordance with the increase, if any, in the cost of living during the preceding one year as determined by the percentage increase in the Consumers Price Index-All Urban Consumers (U.S. City Average/all items) published by the Bureau of Labor Statistics of the U.S. Department of Labor (the “Index”). The Base Salary for the calendar year following each Adjustment Date shall be the then current Base Salary increased by the percentage increase, if any, in the average annual Index for the calendar year immediately preceding the Adjustment Date (the “Preceding Year”) over the average annual Index for the calendar year immediately preceding the Preceding Year; provided, however, that, if the Base Salary as increased by this Section 4(c) for 2014 is less than 115% of the Base Salary as of the Effective Date, then, for 2014 and 2015 only, the annual increase in the Base Salary shall be the greater of five percent (5%) or the increase otherwise determined in accordance with this Section 4(c). In the event the Index shall cease to be published or the formula underlying the Index shall change materially from the formula used for the Index as of the date hereof, then there shall be substituted for the Index such other index of similar nature as is then generally recognized and accepted. In no event shall the Base Salary during each adjusted calendar year be less than that paid during the preceding year of this Agreement. By way of illustration, (i) on January 1, 2012, the Base Salary shall be increased by the average percentage increase, if any, in the Index for 2011 over 2010, and (ii) if the Base Salary is less than $385,250.00 on January 1, 2014, then the Base Salary shall be increased by no less than five percent (5%) for each of 2014 and 2015.
COLA Adjustment. Effective July 1, 2014 and each July 1 thereafter of each year from July 1, 2014 through June 30, 2017 an annual COLA adjustment percentage increase shall be computed which shall not be less than 2% nor more than 5%. The COLA Adjustment percentage shall be determined by the ten (10)-year rolling average of the annual increase in the CPI-U for the Boston-Brockton-Nashua--MA-NH-ME-CT all items index as computed by the Bureau of Labor Statistics of the U.S. Department of Labor for the most recent calendar year preceding the July 1 adjustment. BLS's calendar year for this index is November through November. It is not published on a December to December basis. The reference base is 1982-1984 equals 100 until BLS updates the reference base at which time the parties agree to adopt the official reference based as used by BLS. Thus if the ten (10)-year average CPI-U for the Boston SMSA is 1.5% the applicable COLA adjustment would be 2%; if it is 3.5% the applicable COLA adjustment would be 3.5%; if it is 5.5% the applicable COLA adjustment would be 5.0%. The parties agree that in the event that the City approves COLA increases, general wage increases, or general bonuses for fiscal years 2009 through 2014 for any other City or School District bargaining unit, except the Association of Portsmouth Teachers, that are greater than the increases generated under the COLA Adjustment clause in this contract, members of this bargaining unit shall be entitled to the same increases. This provision will not be applicable if:
COLA Adjustment. Effective September 1, 2013 and March 1, 2014, a COLA Adjustment percentage increase shall be computed which shall not be less than 2% nor more than 5%. The COLA Adjustment percentage shall be determined by the annual increase in the CPI-U for the Boston-Brockton-Nashua—MA-NH-ME-CT all items index as computed by the Bureau of Labor Statistics of the U.S. Department of Labor for the most recent calendar year preceding the July 1 adjustment. BLS's calendar year for this index is November through November, it is not published on a December to December basis. The reference base is 1982-1984 equals 100 until BLS updates the reference base at which time the parties agree to adopt the official reference based as used by BLS. Thus if the CPI-U for the Boston SMSA calendar year 2003 (Nov. 2002-Nov. 2003) is 1.5% the applicable COLA Adjustment on July, 2004 would be 2%; if it is 3.5% the applicable COLA Adjustment would be 3.5%; if it is 5.5% the applicable COLA Adjustment would be 5.0%. Applicability After Contract Expires: It is clearly understood that in the event that the six four year Working Agreement expires without a successor Working Agreement being settled prior to July 1, 20148 that no further COLA Adjustments after March 1, 2014 July 1, 2017 will be generated under the Working Agreement even if the Working Agreement has an evergreen clause. It is further agreed that continuation of COLA Adjustments are not to be deemed "status quo" as the term has been used by the PELRB in the event that a successor agreement has not been settled by July 1, 2014.
COLA Adjustment. For calendar years 2023 and 2024 only, Verso, Inc. shall make a calendar year-end COLA Adjustment payment in the amount of $1,500.00 (less withholding and deductions) to each Employee who (i) is employed on the date such payment is to be paid (which shall be in the last two weeks of December), and (ii) was employed for at least six (6) months during the applicable calendar year. Profit-Based Bonus. For calendar years 2022, 2023, and 2024 only, ten percent (10%) of New Left Books Ltd.’s (“NLB”) fiscal year net profit (as calculated by NLB in its discretion and recorded in its audited accounts in the UK) shall be allocated to a bonus pool to be divided and paid in equal amounts to each bonus-eligible employee employed worldwide. To be eligible to receive such “Profit-Based Bonus,” an employee must have been employed for at least six (6) months during the applicable year (including the final day of such year) and on the date the Profit Based Bonus is to be paid, which shall be no later than the conclusion of the first quarter of the following fiscal year. (Eligible employees who worked fewer than 12 months (but more than the minimum 6) shall be eligible for a pro-rated Profit-Based Bonus, and part-time employees will be eligible for a pro-rated Profit-Based Bonus.) Notwithstanding anything to the contrary herein, any Ratification Bonus and COLA Adjustment payment shall be deducted from the Profit-Based Bonus otherwise due to an Employee. NLB’s calculation of net profit is not subject to the grievance and arbitration provisions of this Agreement. Schedule: Signing Bonus $1,250 COLA Adjustment $1,500 $1,500 $1,500 $1,500 2022 2023 2024 2025 Banding System Steps Y1 Y2 Y3 Y4 Band 1 2 46,500 47,500 48,500 49,500 Band 2 3 51,500 52,500 53,500 54,500 Band 3 4 61,500 62,500 63,500 64,500 Band 4 6 71,500 72,000 72,500 73,000 Band 5 25 79,500 80,000 80,500 81,000 If promoted from If promoted from Promotion total Promotion total Step Year Step + Year top step Y2/Y3 bottom step from top step bottom step 2,000 1,000 3,000 +1,000 +3,000 4,000 6,000 2,000 1,000 3,000 +4,000 +8,000 7,000 11,000 1,750 1,000 2,750 +2,500 +7,750 5,250 10,500 1,000 500 1,500 +2,000 +7,000 3,500 8,500 1,000 500 1,500 Bands and Steps Step Y1 Y2 Y3 Y4 Band 1a 1 46,500 47,500 48,500 49,500 Band 1b 2 48,500 49,500 50,500 51,500 Band 2a 1 51,500 52,500 53,500 54,500 Band 2b 2 53,500 54,500 55,500 56,500 Band 2c 3 55,500 56,500 57,500 58,500 Band 3a 1 61,500 62,500 63,500 64,500 Band 3b 2 63,250 64,250...
COLA Adjustment. For the term of this contract, the wages in the table above may be adjusted if any other bargaining unit or the exempt employee group receives an annual compensation adjustment greater than 3% above COLA for the time period covered in this contract.
COLA Adjustment. In the case of a Participant who has had a Severance from Employment with the Employer, the Annual Benefit Limit applicable to the Participant in any Limitation Year beginning after the date of severance shall be automatically adjusted under section 415(d) of the Code.
