Re(3): cola IP: 68.56.62.95 Posted on November 13, 2008 at 02:52:43 AM by J J Oliva
Jeff, If you go to the contract on page 11, section 23. para (2), sub-section (d) explains how the cost of living is figured out. It is truly weird to me . If you figure it out and can put it in plain english that would be nice. It reads: The "average cost of living index" shall be ascertained each year; determined as the average of the immediately preceding 24 monthly consumer price index figures, relative to the United States as a whole, known as the Consumer Price Index for all urban consumers (CPI-U}, (1982-84 = 100 basis), most recently issued as of such date by the Bureau of Labor Statistics. Should the base point or basis of the monthly Consumer Price Index be revised by the Bureau of Labor Statistics, this term shall mean the published average as adjusted by the Board of Trustees with advise from the Actuary so as to maintain consistency in index figures for purposes of this Plan.
What the heck is that? That's pretty clear!!!! It sounds like another snow job. I agree with you we should probably go with the goverment system.
JJ Oliva Replies:
Re(4): cola - By arturo pedreroNovember 13, 2008 at 01:36:53 PM Re(5): cola - By J J OlivaNovember 13, 2008 at 10:54:13 PM Re(6): cola - By arturo pedreroNovember 14, 2008 at 01:18:54 PM Re(7): cola - By royhallNovember 17, 2008 at 08:44:21 PM Re(8): cola - By LARRY VINCENTNovember 25, 2008 at 01:06:55 AM
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