Cost of Living Adjustment (COLA) Update
For Employees Covered by the National Agreement and the Operating Services Agreement:
(Updated 07/16/08) In June, the Consumer Price Index (CPI-W) rose to 641.082. After the fifth month of the six-month measuring period, and assuming the adjustment was made based on the June CPI, the fourth COLA under the 2006 National Agreement would be $1,310 per year, which works out to $50.40 per pay period or 63 cents per hour. However, the fourth COLA will be based on the July 2008 CPI index point and will be effective Aug. 30, 2008 (pay period 19-2008, pay date Sept. 19, 2008).
Under the 2006 National Agreement and Operating Services Agreement, employees have so far received the following cost-of-living adjustments totaling $1,165: $0 (effective March 17, 2007, pay period 07-2007, pay date April 6, 2007; $686 (effective Sept. 1, 2007, pay period 19-2007, pay date Sept. 21, 2007); $479 (effective March 15, 2008, pay period 07-2008, pay date April 4, 2008).
