living raises

Why Is Cost Of Living Adjustments Important?

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Why Is Cost Of Living Adjustments Important? A cost-of-living adjustment is important because it allows employees, retirees and people living on fixed incomes to afford housing, goods, services and taxes as prices increase over time. … Retirement benefits, such as Social Security and Supplemental Security Income. Private-sector employee salary increases. How does a cost-of-living adjustment

How Does Cost Of Living Adjustment Work?

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How Does Cost Of Living Adjustment Work? A cost-of-living adjustment (COLA) is an increase in benefits or salaries to counteract inflation. Inflation for the Social Security COLA is calculated annually using the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). How are cost-of-living adjustments calculated? How is a COLA calculated? The Social