COLA For Employees Covered by the National Agreement
In February, the first month of the six-month adjustment period for the fourth COLA under the 2021 Agreement, the CPI-W Unadjusted Index (1967=100) rose to 878.883, an increase over the January 2023 index point upon which employees received the last COLA.
If the adjustment was made based on the February 2023 Index, the third COLA adjustment will be:
| Monthly Tracking | Amount |
|---|---|
| Per Annum | $249.00 |
| Per Pay Period | $9.60 |
| Cents Per Hour | $0.12 |
However, the fourth COLA under the 2021 National Agreement will be based on the July 2023 Index, and would be effective August 26, 2023 (pay period 19-2022, pay date September 15, 2023).
Under the 2021 National Agreement, employees accrued the following adjustments totaling $3,973.00:
| # | Amount | Effective Date | Pay Period | Pay Date |
|---|---|---|---|---|
| 1 | $1,310.00 | February 26, 2022 | 06-2022 | March 18, 2022 |
| 2 | $2,455.00 | August 27, 2022 | 19-2022 | September 16, 2022 |
| 3 | $208.00 | March 11, 2023 | 07-2023 | March 31, 2023 |