Some employees may be entitled to a cost of living increase in their salaries. Generally, a cost of living increase kicks in annually to adjust for inflation and other factors. If you believe you have been wrongly denied such an increase to your pay, you will want to talk to a Bronx employment law attorney.
Cost of Living Increase Rights Explained by a Bronx Employment Law Attorney
A Bronx employment law lawyer can explain to you the types of employees that may be entitled to a cost of living adjustment or COLA. Typically, employees in the public sector and those in a union may have a right to the increase.
The right will generally be given in a collective bargaining agreement or contract. If you are unsure what your contract says, you should have a Bronx employment law attorney review it.
Some private employees may also be entitled to a cost of living adjustment. A Bronx employment law attorney can tell that in these cases, the adjustment is almost always a contractual right. If the employer does not explicitly give you the right of the adjustment, you may have no right to one.
Cost of Living Increase Defined by a Bronx Employment Law Attorney
The cost of living adjustment is typically set by the Social Security Administration. A Bronx employment law lawyer can tell you that this adjustment is a complex formula that considers inflation and other factors and generally tries to reflect the spending power of a dollar in current time.
While the Social Security Administration determines the cost of living adjustment to determine the spending power of Social Security payments, many employers also use the cost of living adjustment to determine raises and other increases in benefits.
Contact a Bronx Employment Law Attorney
If you have any questions about a cost of living increase or other employment right, you will want to work with an experienced attorney. Schedule a consultation to discuss the specific facts of your case with a Bronx employment law lawyer at the Law Office of Delmas Costin, Jr. by calling 718-618-0589.