When did we get that 12 cent COLA raise?

[DriverNerd]

Where do you read that? And what does the index have to be to trigger the cola. Thanks!

This is the start:

Page 99 on the national.. 1 cent for every .2 over 3.00 on cpi-w… as long as it at least equals 5 cents. So unless cpi-w jumps to 4% in may there will be no cola

Then followed by this:
Effective August 1, 2024 and every August 1, thereafter during the life of the Agreement, a cost-of-living allowance will be calculated on the basis of the difference between the Index for May 2024 (published June 2024) and every May thereafter, and the base Index for May 2023 (published June 2023) and every May thereafter, as follows: For every two tenths (0.2) point increase in the Index, over and above the base (prior year’s) Index plus three percent (3.00%) there will be a one (1) cent increase in the hourly wage rates payable on August 1, 2024 and every August 1 thereafter. These increases shall only be payable if they equal five cents ($.05) in a year.

We were not eligible for a COLA raise in 2024 as it was 3.4%. All that info from the Teamsters telling us about our "best contract ever" said we weren't getting one, but were getting a big raise instead. The wording in the contract states we would have got one if we would have been eligible, but since the contract was finalized so late they already knew we weren't.

 

[KearsargeCoop]

This is the start:

Then followed by this:
Effective August 1, 2024 and every August 1, thereafter during the life of the Agreement, a cost-of-living allowance will be calculated on the basis of the difference between the Index for May 2024 (published June 2024) and every May thereafter, and the base Index for May 2023 (published June 2023) and every May thereafter, as follows: For every two tenths (0.2) point increase in the Index, over and above the base (prior year’s) Index plus three percent (3.00%) there will be a one (1) cent increase in the hourly wage rates payable on August 1, 2024 and every August 1 thereafter. These increases shall only be payable if they equal five cents ($.05) in a year.

We were not eligible for a COLA raise in 2024 as it was 3.4%. All that info from the Teamsters telling us about our "best contract ever" said we weren't getting one, but were getting a big raise instead. The wording in the contract states we would have got one if we would have been eligible, but since the contract was finalized so late they already knew we weren't.

Thank you, appreciate you digging around and posting.

 

[Zowert]

Is it just me or does it seem like the consumer price index hardly reflects reality?

Latest Numbers : U.S. Bureau of Labor Statistics

www.bls.gov