Attack on Pay and Retirement

[Introduction

COLA (Cost of Living Adjustment) defines as the sporadic increase in pay and earnings, to reimburse for loss in procuring control of money as a result of inflation. COLA is also known as Cost of living allowance. Rate of COLA usually attach to common index such as consumer price index (www.humanresourcesiq.com). The concept of COLA popularized during 1970s. When inflation was truly high, and as a result, reward allied contracts, realty contracts and management benefits, led to the advanced practice of cost of living adjustment to defend against the rise in price.

Discussion

President Obama's new ...