(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.
The annual cost-of-living adjustment (COLA) usually means an increase in the benefit amount people receive each month. By law, the monthly Social Security and Supplemental Security Income (SSI) federal benefit rate increases when there is a rise in the cost of living. The government measures changes in the cost of living through the Department of Laborâs Consumer Price Index (CPI-W). The CPI-W rose this year.