Common use of Cost of Living Clause in Contracts

Cost of Living. Adjustments (Years 1-4: 2015-2016, 2016-2017, 2017-2018 and 2018-2019) (a) Bargaining unit members employed on January 1, 2016 on a 12-month basis shall receive a 2.0% increase in base pay effective January 1, 2016. (b) Bargaining unit members employed on February 1, 2016 on a 9-month basis shall receive a 2.0% increase in base pay effective February 1, 2016. (c) Bargaining unit members employed on a 12-month basis on January 1 in each year of this Agreement, starting January 1, 2017, shall receive a percentage increase to their base pay equal to the percent change in the CPI, provided that the percentage increase in CPI is not less than 1.5% or more than 3.5%. If the percentage increase in CPI is less than 1.5%, then the percentage increase in base pay shall be 1.5%; if the percentage increase in CPI is greater than 3.5%, then the percentage increase in base pay shall be 3.5%. (d) Bargaining unit members employed on a 9-month basis on February 1 in each year of this Agreement, starting February 1, 2017, shall receive a percentage increase to their base pay equal to the percent change in the CPI, provided that the percentage increase in CPI is not less than 1.5% or more than 3.5%. If the percentage increase in CPI is less than 1.5%, then the percentage increase in base pay shall be 1.5%; if the percentage increase in CPI is greater than 3.5%, then the percentage increase in base pay shall be 3.5%.

Appears in 8 contracts

Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement

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