In February, the first month of the six-month adjustment period for the fourth COLA under the 2018 Agreement, the CPI-W Unadjusted Index (1967=100) rose to 750.436.
If the adjustment were made based on February 2020 Index the adjustment would be:
| Monthly Tracking | Amount |
|---|---|
| Per Annum | $104.00 |
| Per Pay Period | $4.00 |
| Cents Per Hour | $0.05 |
However, the fourth COLA under the 2018 National Agreement will be based on July 2020 Index and would be effective August 29, 2020 (pay period 19-2020, pay date September 18, 2020). We expect the Index to fall for the next few months recovering a bit by July. The actual adjustment will likely be close to the current estimate; but could be zero.
Under the 2018 National Agreement, employees accrued the following adjustments totaling $790.00:
| # | Amount | Effective Date | Pay Period | Pay Date |
|---|---|---|---|---|
| 1 | $0.00 | March 2, 2019 | 06-2019 | March 22, 2019 |
| 2 | $624.00 | August 31, 2019 | 19-2019 | September 20, 2019 |
| 3 | $166.00 | February 29, 2020 | 06-2020 | March 20, 2020 |