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  • COLA Formula Generates 29¢ Effective 06/11/21
    Posted On: May 15, 2021

    Effective June 11th, 2021, a 29¢ cost-of-living adjustment (COLA) will be added to the hourly wage rate for IAM members at Boeing. The 29¢ was generated for the quarter February, March and April 2021. COLA is generated quarterly under the IAM contract and is based on the federal government’s Consumer Price Index.

    COLA is permanently rolled into a member’s base rate each September. The value of our quarterly COLA, even when it is only a few pennies, has a significant impact on our maximum rates over time. As of March 2021, $17.08 of the maximum rates is the result of COLA payments being folded into our base rates.

    For a YouTube video Doodly explanation of the math, click here
    https://www.youtube.com/watch?v=TiMFMr_6QfA 


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