cost of living adjustment
Wage inflation offset
A cost of living adjustment is a periodic increase in wages, benefits, or payments to offset inflation.
Social Security recipients receive annual cost of living adjustments based on consumer price indices.
Some employment contracts include automatic cost of living adjustments tied to inflation rates.
Often abbreviated COLA: The union negotiated a 3% COLA into the contract.
- minimum wageLowest lawful hourly rate
- annual raisePeriodic salary increase
- retirement benefitsPost-career compensation entitlements
- pension benefitsPayments to retired employees
- inflationSustained price level increase
purchasing power · employee benefits · collective bargaining · survivor benefits · public assistance · disability payments · wage negotiation · monetary policy · fixed income · Social Security · fiscal policy · social welfare programs · pay equity · price stability · CPI · entitlement programs · labor unions · federal employees
- compensationpay, salary, income, wage, bonus
- employment termslabor contract, salary, employment terms, internship, contract terms
- military benefitsVA benefits, military pay, veteran benefits, base pay, health benefits
- pay changesraise, pay raise, pay cut, wage increase, salary bump
- political perkssalary, base salary, per diem, allowances, expense account
- Social SecuritySSN, FICA, Social Security Administration, disability benefits, retirement benefits
cost of living adjustmentmerit raise
Salary boost for achievement
performance bonus · merit increase · performance-based pay · incentive pay · commission
cost of living adjustmentwage stagnation
Pay not increasing over time
pay freeze · wage freeze · pay cut · salary reduction · salary cut
costing, costly, costliness, living, livable, livability, liveliness, adjust, adjusts