COLA means a percentage-based general wage increase adjustment provided in accordance with this Memorandum of Agreement. COLA is an upward adjustment applied to and folded into all wage rates. The "annualized average of BC CPI over twelve months” (AABC CPI) 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 in the preceding year and concluding at the end of the following February. 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 Index % 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. The percentage change reported by BC Stats that will form the basis for determining any COLA increase is calculated to one decimal point. 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 means cost of living adjustments.
COLA means cost of living adjustment based in part upon the Consumer Price Index; the COLA applies to annual adjustments in the amounts of certain Pensions.
Examples of COLA in a sentence
The percentage change reported by BC Stats that will form the basis for determining any COLA increase is calculated to one decimal point.
The COLA will be calculated by determining the difference between the AABC CPI and the annual general wage increase to the maximum COLA prescribed that year in Wage Schedule – Grids.
For example purposes only, combining the 3.74% increase (as it is considered in this LOA) in Year 1 with the maximum potential combined GWI and COLA increases of 6.75% in Year 2 and 3% in Year 3 would result in a cumulative nominal increases of 13.49% over three years.
If the 2023 AABC CPI exceeds the April 2023 GWI of 5.5%, then, on the first pay period after April 1, 2023 the April 2023 GWI will be adjusted upwards to reflect a COLA equal to the difference between the April 2023 GWI and the 2023 AABC CPI up to a maximum of 1.25%.
If the 2024 AABC CPI exceeds the April 2024 GWI of 2.0%, then, on the first pay period after April 1, 2024 the April 2024 GWI will be adjusted upwards to reflect a COLA equal to the difference between the April 2024 GWI and the 2024 AABC CPI up to a maximum of 1.00%.
More Definitions of COLA
COLA means the Cost of Living Allowance paid to employees serving abroad;
COLA means cash paid by Delphi for Cost of Living Allowance, as defined in the applicable collective bargaining agreement, to hourly employees for the time period included in calculating the Labor Cost Amount. The definition of the Labor Cost Amount shall not include COLA after it ceases to be paid under the applicable collective bargaining agreement.
COLA means the District’s Coordinated Optimization Logic and Accounting system, which includes the energy management system, river models, project and unit dispatch models and logic, spill and other operational logic, and accounting systems for operations associated with Output.
COLA means funded COLA.
COLA means Cost of Living Allowance;
COLA means funded COLA. Part-Time Faculty “Parity” Stipend If the District receives additional “parity” monies for the school years pursuant to the State Budget Act appropriation stated specifically by the state legislature to make part-time faculty compensation more comparable to full-time faculty compensation for similar work, the distribution of District revenue pursuant to the State Budget Act shall be made to part-time unit member on a one-time non-repetitive (off schedule) basis for the applicable school year(s) covered by the term of this Agreement. The District and the Federation agree to the following definition of “parity”: • Definition of part-time parity at seventy-five percent (75%) of full-time instructional salary – Duties and responsibilities that are currently required of part-time unit members, which do not include office hours or committee/departmental meetings, shall be based on a fifteen (15) LHE full-time load. • Definition of parity at one hundred percent (100%) of full-time salary – All duties and responsibilities currently required of full-time unit members. Compensation for each LHE of part-time unit members during the fall semester shall be the calculation amount of one-half (1/2) of the District’s total allocation for part-time unit members’ compensation divided by the total number of LHE for the fall semester, less the total of all state and federal statutory costs (e.g., Medicare, unemployment insurance, workers’ compensation, STRS, etc.). Payment of this amount per LHE shall be “off schedule” on a one-time, non- repetitive basis, conditioned upon receipt of state monies. Compensation for each LHE of part-time unit members during the spring semester shall be the calculation amount of one-half (1/2) of the District’s total allocation for part-time unit members compensation divided by the total number of LHE for the spring semester, less the total of all state and federal statutory costs (e.spring., Medicare, unemployment insurance, workers’ compensation, STRS, etc.). Payment of this amount per LHE shall be “off schedule” on a one- time, non-repetitive basis, conditioned upon receipt of state monies. Under no circumstances shall the District be required to provide more money to part-time unit members in excess of the District’s allocation actually received.