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<blockquote data-quote="35years" data-source="post: 5203433" data-attributes="member: 60822"><p><strong>I ran the numbers myself; please correct me if I am wrong.</strong></p><p></p><p>Current CPI is 283.716</p><p>Last year's May CPI was 263.612</p><p>3% is excluded by contract.</p><p>To calculate COLA you take the previous index (CPI21), multiply it by 1.03 to get your baseline 3% increase (referred to as 3%base), find the difference between the current CPI-W (CPI22) and the adjusted 3% increase (3%base), and multiply by 5 because each 0.2 points is one cent so each 1 point is therefore 5 cents. The formula is shown below:</p><p>3%base = CPI21 x 1.03 = 271.512</p><p>Raise = (CPI22 - 3%base) x 5</p><p></p><p>So:</p><p>3%base = 263.612 x 1.03 = 271.512</p><p><strong>Raise =</strong> (283.716 - 271.512) x 5 = (12.204) x 5 = <strong>61 cents as of today.</strong></p><p><strong></strong></p><p><strong>Now, the CPI is calculated by May's numbers so it will likely be 15 cents higher by then, for a total of 76 cents.</strong></p></blockquote><p></p>
[QUOTE="35years, post: 5203433, member: 60822"] [B]I ran the numbers myself; please correct me if I am wrong.[/B] Current CPI is 283.716 Last year's May CPI was 263.612 3% is excluded by contract. To calculate COLA you take the previous index (CPI21), multiply it by 1.03 to get your baseline 3% increase (referred to as 3%base), find the difference between the current CPI-W (CPI22) and the adjusted 3% increase (3%base), and multiply by 5 because each 0.2 points is one cent so each 1 point is therefore 5 cents. The formula is shown below: 3%base = CPI21 x 1.03 = 271.512 Raise = (CPI22 - 3%base) x 5 So: 3%base = 263.612 x 1.03 = 271.512 [B]Raise =[/B] (283.716 - 271.512) x 5 = (12.204) x 5 = [B]61 cents as of today. Now, the CPI is calculated by May's numbers so it will likely be 15 cents higher by then, for a total of 76 cents.[/B] [/QUOTE]
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