There have been some questions on how the COLA number was reached.
This week’s COLA adjustment was the average of the past 3 years for the second quarter of the calendar year.
Second quarter Year 1 – 47 cents, Year 2 – $1.05, Year 3 – 44 cents – divided by 3 = 65 cents
The actual COLA increase for the second quarter was 44 cents – however we get the average of the past 3 years.
That formula was agreed to during Detroit 3 bargaining in the last contract. The Detroit 3 take the same COLA adjustments at the same time. We are included in the COLA formula and take the same adjustments at the same time as the Detroit 3.
COLA increase started June 5, you should see it on your pay next week – please remember you must be at full rate to receive COLA.