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Reply #30: that guys info about COLA is slightly out of date. [View All]

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Home » Discuss » General Discussion: Presidency

Sirveri

(1000+ posts) Send PM | Profile | Ignore

Fri Sep-09-11 02:55 PM
Response to Reply #19

30. that guys info about COLA is slightly out of date.

The 3% trigger was abolished. Also they track the last two years, and it has to be above both. The last two years didn't see a COLA increase because of a oil price spike which caused a corresponding massive spike to CPI for the tracking quarter. The next year oil prices collapsed causing CPI to be lower than 12 months prior, and while it increased 12 months after that, it still hadn't overcome the original oil spike. Hence, no COLA.

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