Cost of Living Adjustments COLA

This is a discussion on Cost of Living Adjustments COLA within the Employment and Labor Law Questions forums, part of the Legal Questions & Answers Forum category; I entered into a COLA agreement with my company 7+ years ago. This agreement was a signed contract and stated it was good until I left the area or changed ...

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  1. #1
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    Cost of Living Adjustments COLA

    I entered into a COLA agreement with my company 7+ years ago. This agreement was a signed contract and stated it was good until I left the area or changed jobs. (It equates to about 26K, per year). I received an e-mail stating they are eliminating this program and that this compensation will be removed effective 1/2013 in 25% increments per year. Can they do this?


  2. #2
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    Yes, it is called modifying your compensation. Per your contract, it appears you are free to refuse the modification and they are free to terminate you, thus ending the contract.


 

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