cost of living adjustment


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Related to cost of living adjustment: inflation rate, Cost of living index

cost of living adjustment

Abbreviation: COLA
In determining Social Security payments and other financial benefits, a change in compensation based on the rate of inflation, as demonstrated by the U.S. Consumer Price Index.
See also: adjustment
References in periodicals archive ?
Work session on possible geographic adjustments to transportation systems development charge, and proposed cost of living adjustment to parks systems development charge.
Congress passed legislation approving a cost of living adjustment (COLA) to ensure federal employee wages keep up with inflation.
The final Social Security cost of living adjustment will be announced in the fall based on updated data.
Cost of living adjustments were the genesis of an impartial panel of 12 volunteers, called the Compensation Review Board, created in 1984 to advise on salary increases.
He noted that the United States grants retired public employees Cost of Living Adjustments (COLA) which are linked to CPIs or are fixed percentages of the monthly pensions.