Common use of Cost of Living Adjustment Clause Clause in Contracts

Cost of Living Adjustment Clause. Modify the third and fourth paragraphs of Article 33, Section 4 as follows: Effective April 1, 2020, and every April 1 thereafter during the life of the Agreement, a cost-of- living allowance will be calculated on the basis of the difference between the Index for January, 2019, (published February, 2019) and the index for January, 2020 (published February, 2020) with a similar calculation for every year thereafter, as follows: For every 0.2 point increase in the Index over and above the base (prior year’s) Index plus 3.5%, there will be a 1 cent increase in the hourly wage rates payable on April 1, 2020, and every April 1 thereafter. These increases shall only be payable if they equal a minimum of five cents ($.05) in a year.

Cost of Living Adjustment Clause. Modify the third and fourth paragraphs of Article 33, Section 4 as follows: Effective April 1, 2020, and every April 1 thereafter during the life of the Agreement, a cost-of- of-living allowance will be calculated on the basis of the difference between the Index for January, 2019, (published February, 2019) and the index for January, 2020 (published February, 2020) with a similar calculation for every year thereafter, as follows: For every 0.2 point increase in the Index over and above the base (prior year’s) Index plus 3.5%, there will be a 1 cent increase in the hourly wage rates payable on April 1, 2020, and every April 1 thereafter. These increases shall only be payable if they equal a minimum of five cents ($.05) in a year.