Admin: /* Section 9.3 Cost of Living Adjustment */

2022-01-07T01:07:46Z

Section 9.3 Cost of Living Adjustment

← Older revision		Revision as of 01:07, 7 January 2022
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	=== Section 9.3 Cost of Living Adjustment ===		=== Section 9.3 Cost of Living Adjustment ===
	<ol style="list-style-type:upper-alpha">		<ol style="list-style-type:upper-alpha">
	<li>A Definitions;		<li>Definitions;
	<ol style="list-style-type:decimal">		<ol style="list-style-type:decimal">
	<li>"Consumer Price Index" refers to the "National Consumer Price Index for Urban Wage Earners and Clerical Workers," published by the Bureau of Labor Statistics, United States Department of Labor (1967=100) and referred to herein as the "Index."		<li>"Consumer Price Index" refers to the "National Consumer Price Index for Urban Wage Earners and Clerical Workers," published by the Bureau of Labor Statistics, United States Department of Labor (1967=100) and referred to herein as the "Index."
	<li>"Consumer Price Index Base" refers to the Consumer Price Index for the month of July ‘’’2019’’’ and is referred to herein as the "Base Index."		</li>
			<li>"Consumer Price Index Base" refers to the Consumer Price Index for the month of July ‘’’2019’’’ and is referred to herein as the "Base Index."
	</li>		</li>
	</ol>		</ol>
	</li>		</li>
	<li> Effective Dates of Adjustment;		<li>Effective Dates of Adjustment;
	Each eligible employee covered by this Agreement shall receive cost-of-living adjustments, upward, in accordance with the formula in 4.C, below, effective on the following dates:		Each eligible employee covered by this Agreement shall receive cost-of-living adjustments, upward, in accordance with the formula in 4.C, below, effective on the following dates:
	: - the second full pay period after the release of the January <b>2020</b> Index		: - the second full pay period after the release of the January <b>2020</b> Index
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	:- the second full pay period after the release of the July <b>2021</b> Index		:- the second full pay period after the release of the July <b>2021</b> Index
	:- the second full pay period after the release of the January <b>2022</b> Index		:- the second full pay period after the release of the January <b>2022</b> Index
	:- the second full pay period after the release of the July <b>2022</b> Index</li>		:- the second full pay period after the release of the July <b>2022</b> Index
	<li>The basic salary schedule provided for in Table One and Step P of Table Two of this Agreement shall be increased 1 cent per hour for each full 0.4 of a point increase in the applicable Index above the Base Index. For example, if the increase in the Index from ~~‘’’January 2020’’’~~ to ~~‘’’July 2020’’’~~ is 1.2 points, pay scales for employees <b>in Table One and Step P of Table</b> ~~Two of’’’~~ this Agreement will be increased by 3 cents per hour. In no event will a decline in the Index below the Base Index result in a decrease in the pay scales provided for in this Agreement. Steps BB through O in the basic salary schedules provided for in Table Two of this Agreement shall receive COLAs calculated using the formula in this paragraph, adjusted proportionally as reflected in Table Two. </li>		</li>
	<li>In the event the appropriate Index is not published on or before the beginning of the effective payroll period, any adjustment ~~re- quired~~ will be made effective at the beginning of the second ~~pay- roll~~ period after publication of the appropriate Index.</li>		<li>The basic salary schedule provided for in Table One and Step P of Table Two of this Agreement shall be increased 1 cent per hour for each full 0.4 of a point increase in the applicable Index above the Base Index. For example, if the increase in the Index from <b>January 2020</b> to <b>July 2020</b> is 1.2 points, pay scales for employees <b>in Table One and Step P of Table Two</b> of this Agreement will be increased by 3 cents per hour. In no event will a decline in the Index below the Base Index result in a decrease in the pay scales provided for in this Agreement. Steps BB through O in the basic salary schedules provided for in Table Two of this Agreement shall receive COLAs calculated using the formula in this paragraph, adjusted proportionally as reflected in Table Two.
			</li>
			<li>In the event the appropriate Index is not published on or before the beginning of the effective payroll period, any adjustment required will be made effective at the beginning of the second payroll period after publication of the appropriate Index.</li>
	<li>No adjustment, retroactive or otherwise, shall be made due to any revision which may later be made in the published figures for the Index for any month mentioned in 4.B., above.</li>		<li>No adjustment, retroactive or otherwise, shall be made due to any revision which may later be made in the published figures for the Index for any month mentioned in 4.B., above.</li>
	<li> If during the life of this Agreement, the BLS ceases to make ~~avail- able~~ the CPI-W (1967=100), the parties agree to use the CPI-W (1982-84=100) at such time as BLS ceases to make available the CPI-W (1967=100). At the time of change to the CPI-W (1982- 84=100), the cost-of-living formula in Section 9.3C will be recalculated to provide the same cost-of-living adjustment that would have been granted under the formula using the CPI-W (1967=100).</li>		<li> If during the life of this Agreement, the BLS ceases to make available the CPI-W (1967=100), the parties agree to use the CPI-W (1982-84=100) at such time as BLS ceases to make available the CPI-W (1967=100). At the time of change to the CPI-W (1982- 84=100), the cost-of-living formula in Section 9.3C will be recalculated to provide the same cost-of-living adjustment that would have been granted under the formula using the CPI-W (1967=100).
			</li>
	</ol>		</ol>

Admin: Created page with "=== Section 9.3 Cost of Living Adjustment ===

A Definitions;

"Consumer Price Index" refers to the "National Consumer Price Index for Urban Wage Earners and Clerical Workers," published by the Bureau of Labor Statistics, United States Department of Labor (1967=100) and referred to herein as the "Index."
"Consumer Price Index Base" refers to the Consumer Price Index..."

2022-01-07T01:03:12Z

Created page with "=== Section 9.3 Cost of Living Adjustment === <ol style="list-style-type:upper-alpha"> <li>A Definitions; <ol style="list-style-type:decimal"> <li>"Consumer Price Index" refers to the "National Consumer Price Index for Urban Wage Earners and Clerical Workers," published by the Bureau of Labor Statistics, United States Department of Labor (1967=100) and referred to herein as the "Index." <li>"Consumer Price Index Base" refers to the Consumer Price Index..."

New page

=== Section 9.3 Cost of Living Adjustment ===
<ol style="list-style-type:upper-alpha">
<li>A Definitions;
<ol style="list-style-type:decimal">
<li>"Consumer Price Index" refers to the "National Consumer Price Index for Urban Wage Earners and Clerical Workers," published by the Bureau of Labor Statistics, United States Department of Labor (1967=100) and referred to herein as the "Index."
<li>"Consumer Price Index Base" refers to the Consumer Price Index for the month of July ‘’’2019’’’ and is referred to herein as the "Base Index."
</li>
</ol>
</li>
<li> Effective Dates of Adjustment;
Each eligible employee covered by this Agreement shall receive cost-of-living adjustments, upward, in accordance with the formula in 4.C, below, effective on the following dates:
: - the second full pay period after the release of the January 2020 Index
:- the second full pay period after the release of the July 2020 Index
:- the second full pay period after the release of the January 2021 Index
:- the second full pay period after the release of the July 2021 Index
:- the second full pay period after the release of the January 2022 Index
:- the second full pay period after the release of the July 2022 Index</li>
<li>The basic salary schedule provided for in Table One and Step P of Table Two of this Agreement shall be increased 1 cent per hour for each full 0.4 of a point increase in the applicable Index above the Base Index. For example, if the increase in the Index from ‘’’January 2020’’’ to ‘’’July 2020’’’ is 1.2 points, pay scales for employees in Table One and Step P of Table Two of’’’ this Agreement will be increased by 3 cents per hour. In no event will a decline in the Index below the Base Index result in a decrease in the pay scales provided for in this Agreement. Steps BB through O in the basic salary schedules provided for in Table Two of this Agreement shall receive COLAs calculated using the formula in this paragraph, adjusted proportionally as reflected in Table Two. </li>
<li>In the event the appropriate Index is not published on or before the beginning of the effective payroll period, any adjustment re- quired will be made effective at the beginning of the second pay- roll period after publication of the appropriate Index.</li>
<li>No adjustment, retroactive or otherwise, shall be made due to any revision which may later be made in the published figures for the Index for any month mentioned in 4.B., above.</li>
<li> If during the life of this Agreement, the BLS ceases to make avail- able the CPI-W (1967=100), the parties agree to use the CPI-W (1982-84=100) at such time as BLS ceases to make available the CPI-W (1967=100). At the time of change to the CPI-W (1982- 84=100), the cost-of-living formula in Section 9.3C will be recalculated to provide the same cost-of-living adjustment that would have been granted under the formula using the CPI-W (1967=100).</li>
</ol>

Section 9.3 - Revision history

Admin: /* Section 9.3 Cost of Living Adjustment */