cost-of-living adjustment

(redirected from Automatic Cost of Living Adjustment)
Also found in: Financial.

cost-of-liv·ing adjustment

(kôst′əv-lĭv′ĭng)
n. Abbr. COLA
An adjustment made in wages that corresponds with a change in the cost of living.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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Ford also received major concessions in February such as the elimination of automatic cost of living adjustments dramatically reduced health care costs and deferral of previously agreed future rises.
During an extensive community budget process, our citizens affirmed that Pay for Performance, not automatic cost of living adjustments, was the appropriate way to compensate high achieving employees.

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