With a 5.9% COLA to Social Security monthly checks in 2022……do you think Chevron will follow suit? The pension incorporates the SS COLA in the calculation so it only obvious that we should get the 5.9 + performance for our yearly raise. Thoughts?
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HE double hockey sticks NO!
The annual salary adjustments at Chevron and other major employers do not necessarily follow the Consumer Price Index as does Social Security. Chevron benchmarks it’s salary adjustment structure on a survey of what it’s peers in the industry are doing. I’m sure the steep increase in the CPI will have an influence on any salary structure increases due out April 1 next year, but the CPI itself has no direct correlation with Chevron pay. Never has.