Cost Of Living Adjustment - COLA
For example, if Kevin received $10,000 last year for Social Security benefits and COLAs for this year were 4.1%, then his benefits for this year would be $10,410.
During the 1970s, inflation was really high, and as a result compensation related contracts, real estate contracts and government benefits, led to the popularized usage of COLAs to protect against inflation.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
cost-of-living allowance — noun an allowance for changes in the consumer price index • Hypernyms: ↑allowance, ↑adjustment … Useful english dictionary
adjustment — noun 1. making or becoming suitable; adjusting to circumstances (Freq. 5) • Syn: ↑accommodation, ↑fitting • Derivationally related forms: ↑fit (for: ↑fitting), ↑accommodate … Useful english dictionary
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