February 17, 2021
COLA RELEASE
A cost of living allowance is paid on the basis of 1 (one) cent per hour for each .125 increase in the Consumer Price Index (1981 = 100).
The Consumer Price Index for October 2020 was 137.5. The Consumer Price Index for January 2021 was 138.2. Therefore, the Cost of Living Allowance generated would be an increase of 11 cents.
As a result, effective March 1, 2021 (paid April 1, 2021 for salaried), the total C.O.L.A. payable will be $0.40 per hour.