IAM members working at Boeing on the active payroll on September 6, 2019 will receive a 14-cent cost-of-living adjustment (COLA) based on the months of May, June and July 2019. The new 14-cent COLA (along with the 11 cents COLA generated since the fold in last September) will be permanently added into the base wage.
COLA is generated quarterly under the IAM-Boeing contract and is based on the federal government’s Consumer Price Index. The value of the quarterly COLA, even when it is only a few pennies, has a significant impact on our maximum rate over time. As of Sept. 2019, $16.52 of the maximum rate is a result of COLA payments being folded into our base rates.