Christmas came early for Iola city employees Monday night. Council members approved a 5.9% cost of living adjustment to employee paychecks next year, mirroring the same increases Social Security recipients will receive next year. The city traditionally has tied its COLA to the Social Security Index. Next year’s raise is the largest in the past 20 years. The last time COLAs were north of 5% was in 2009, when raises were 5.8%. While the raises are above what the Council planned when setting the 2022 budget earlier this year, with insurance premiums rising only about 1.3% next year, the city should have plenty of room to absorb the generous increase, City Administrator Matt Rehder explained.
Source: The Iola Register
