(b) Beginning on January 1, 2015, the minimum wage shall be an hourly rate of. $8.40 an hour; beginning on January 1, 201 the minimum wage shall be an hourly rate 7. of $9.20 an hour; and beginning on January 1, 201 the minimum wage shall be an 9. hourly rate of $10.10 an hour.
The pension adjustment (PA) amount is the value of the benefits you earned in 2014 under your employer's registered pension plans (RPP) and deferred profit sharing plans (DPSP), and possibly, some unregistered retirement plans or arrangements.
Definition. A cost-of-living adjustment (COLA) is an increase in salary or annuity usually based on an objective measure that estimates how much additional money a typical person or household needs to maintain their standard of living. Inflation acts against the buying power of every dollar.