Contract COLA: 3rd COLA Will Be $270 Annually
The July 2017 Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W, 1967=100) was 710.766, an increase of 12.186 points over the 2016-2019 National Agreement’s July 2014 base index of 698.580. Each full 0.4 point increase above the base index equals a 1-cent-per-hour increase.
As a result, the third cost-of-living-adjustment (COLA) under then 2016-2019 National Agreement will be 13 cents per hour, or $270 annually.
The COLA calculation was made by calculating the cents-per-hour increase from the base index to the current index and subtracting the contract COLAs that have already been included in the pay tables from the amount calculated in Step 1.
The cents-per-hour increase from the base index to the current index is 30 cents. The contract COLAs that have already been included in the pay tables total 17 cents per hour. Thirty cents per hour minus 17 cents per hour is 13 cents per hour; 13 cents per hour, or $270 annually, is the third contract COLA.
The two COLAs previously calculated under the 2016-2019 National Agreement, totaling 17 cents per hour, are as follows: First COLA, 1 cent per hour ($21 annually); second COLA, 16 cents per hour ($333 annually).
2018 Retiree COLAs Projection: 1.5% as of July 2017
The 2018 cost-of-living-adjustments (COLAs) for Civil Service Retirement System (CSRS) and Federal Employees Retirement System (FERS) benefits will be based on the increase in the average Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) between the third quarter of 2016 (235.057) and the third quarter of 2017 (TBA).
Based on the July 2017 CPI-W (1982-84=100) of 238.617, the 2018 CSRS and FERS COLAs are currently projected to be 1.5 percent. The retiree COLA calculation will be finalized when the September 2017 CPI-W is published in October.
CSRS annuities receive full COLAs; COLAs for FERS annuities are payable for retirees 62 and older and may be reduced by up to one percentage point from the increase in the CPI.
2018 FECA COLA Projection: 1.4% as of July 2017
Based on the release of the July 2017 Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W, 1982-84=100), the 2018 2018 Federal Employees’ Compensation Act (FECA) cost-of-living adjustment (COLA) is currently projected to be 1.4 percent. The July 2017 CPI-W (238.617) was 1.4 percent above the December 2016 base index (235.390). The FECA COLA calculation will be finalized when the December 2017 CPI-W is published in January.
FECA COLAs are applicable only in cases where death or disability occurred more than one year prior to the adjustment’s effective date.
source: NALC
Fools
real inflation is 5-7%/year so thanks union with these worthless cola’s and 1%/year raise….. oh and union dues will now go up with a new contract and our portion of our health care will also increase…… yep…. I’d say our union is working real hard for us….. be sure to sign all the cca’s up
Last paycheck of September or first of October
To the many carriers that are unhappy with the contract, I imagine you could have done better. With an anti union congress and President what could you come up with? Just wait for the ride the employees will receive from congress. I read that the UMWU endorsed Dump for President, now they are unhappy with him. Tough!
looks like I was right again: the union’s projected cola of $560 was way off the actual of $270; further proof the higher number was inflated to get more yes votes
where s our money why does this take so long this is rediculous. and our retro should be the whole year from may 20 2016 to now what gives we want our money please
why is it taking so long to get our back pay retro if the contract passed when does the raise go into effecashct when do we get our
I think by late sept.