Examples of COLA in a sentence
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%.
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).
The COLA will be applied as applicable to the GWI effective on the first pay period after April 1, 2023 and April 1, 2024.
The percentage change reported by BC Stats that will form the basis for determining any COLA increase is calculated to one decimal point.
The District agrees that any annual cost-of-living adjustment (COLA) approved for all other managers during each year of this Contract will also be adjusted in the Vice-President’s base salary.