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cost-of-living adjustment

   Also found in: Financial, Encyclopedia, Wikipedia 0.01 sec.
cost-of-living adjustment
n. Abbr. COLA
An adjustment made in wages that corresponds with a change in the cost of living.


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Byline: GUEST VIEWPOINT By Peter DeFazio For the first time in more than 30 years, seniors and disabled workers on Social Security will not receive a cost-of-living adjustment next year.
Payroll tax receipts generally hold up much better in recessions than do income taxes, but job losses have been so severe that the CBO expects them to decline slightly from 2008, while benefits rise almost 9 percent because of cost-of-living adjustments and the beginnings of the baby-boomer retirement wave.
Interestingly, the Social Security cost-of-living adjustments for 2008 were also announced recently.
 
 
 
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