cost-of-living adjustment

(redirected from Automatic COLA)
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cost-of-liv·ing adjustment

n. Abbr. COLA
An adjustment made in wages that corresponds with a change in the cost of living.
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Can we get an automatic COLA of 3 percent or more a year?
* Cost of living adjustments (COLAs) that are granted responsibly, for example through an ad hoc COLA that is amortized quickly, or an automatic COLA that is capped at a modest level;
Additionally, only 3% of civilian retirement plans feature automatic COLA increases to protect retirees against inflation.
About 43 percent of Association members who responded to the NEA survey said their pension system provided some type of ad hoc cost-of-living adjustment (COLA)--forty percent provided an automatic COLA. It's important to find out what your retirement benefit will be and whether your plan includes a COLA.
GASB: The board may consider criteria to serve as a basis for determining whether a given ad hoc COLA is not substantively different from an automatic COLA.

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