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cost of living allowance--COLA
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<blockquote data-quote="JonFrum" data-source="post: 739687" data-attributes="member: 18044"><p>A wage raise isn't a raise at all in any year that it is treated as the bottom part of a COLA payment. Instead of getting a wage raise <u>and</u> a COLA payment, you are effectively just getting a COLA payment.</p><p> </p><p>This is because the COLA formula does not fully compensate for the increase in the cost of living.</p><p> </p><p>There is also months' delay before the COLA payments begin, so you are loosing ground there too.</p></blockquote><p></p>
[QUOTE="JonFrum, post: 739687, member: 18044"] A wage raise isn't a raise at all in any year that it is treated as the bottom part of a COLA payment. Instead of getting a wage raise [U]and[/U] a COLA payment, you are effectively just getting a COLA payment. This is because the COLA formula does not fully compensate for the increase in the cost of living. There is also months' delay before the COLA payments begin, so you are loosing ground there too. [/QUOTE]
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