Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

cost-of-living adjustment

Read a random definition: prudence

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

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
LSD+ is ad-free, with DMs, discounts, case briefs & more.