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What is a COLA?

What is a COLA?

At the first full pay period after the beginning of each fiscal year, pay plan exhibit C of section 19-42 of the City Code shall be automatically adjusted to provide a cost of living adjustment (COLA) to each step of each pay grade equal to the annualized consumer price index (CPI) using the south urban CPI from the U.S. Department of Labor released in January of each year. This will increase employees' base pay equal to the COLA effective at the beginning of the first pay period with a pay date on or after Oct. 1 of each year. Part-time employees shall receive a COLA effective at the beginning of the first pay date on or after Oct. 1 of each year equal to the annualized CPI using the south urban CPI from the U.S. Department of Labor released in January of each year.