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Simple English definitions for legal terms

cost-of-living adjustment

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A quick definition of cost-of-living adjustment:

Term: COST-OF-LIVING ADJUSTMENT

Definition: A cost-of-living adjustment is when the amount of money someone gets paid goes up or down based on how much things cost. The government keeps track of how much things cost and uses that information to decide how much money should be paid. This is usually used for support or maintenance payments between two parties. It is often abbreviated as COLA.

A more thorough explanation:

A cost-of-living adjustment (COLA) is an automatic increase or decrease in the amount of money paid by one party to another, usually for support or maintenance. The adjustment is tied to the cost-of-living-adjustment figures maintained and updated by the federal government.

For example, if a person is receiving alimony payments from their ex-spouse, the agreement may include a COLA clause that adjusts the amount of the payments based on changes in the cost of living. If the cost of living goes up, the alimony payments will increase accordingly.

Another example is Social Security benefits. The government provides a COLA each year to adjust the amount of benefits to keep up with inflation and changes in the cost of living.

These examples illustrate how a COLA works to ensure that payments keep up with the changing cost of living. It helps to prevent the recipient from experiencing a decrease in their standard of living due to inflation.

cost of carrying | cost-of-living clause

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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