C.O.L.A Fourth Quarter 2015

The CPI figure for January 2016 was released on February 19, 2016. As per the Collective Agreement the following calculation will apply.
January 2016 131.0
October 2015 131.7
Difference -0.7
(Divide by .063 per each 1 cent) = -$0.11
Effective with the first pay period after the release, COLA will be $0.31 per straight time hour worked as it was previously $0.42.

The Union is checking these calculations as sometimes they have been incorrect in the past.