3% vs. Cost of Living Adjustment (COLA)

Did you know that the 2019-2020 salary increase of 3% proposed by the Board of Trustees falls short of meeting the cost of living adjustment (COLA) for 2019 and 2020?

Each October, the Social Security Administration announces the cost of living adjustment (COLA) for the next year. For 2019, the cost of living went up by 2.8%. The cost of living increased another 1.6% for 2020, for a total of 4.4%.

UNF’s 2017-2024 Strategic Plan established a goal to “ensure [a] regular standard of living salary adjustment for faculty and staff.” The 3% proposed salary increase doesn’t meet that goal.

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Posted in Did you know?, Uncategorized.