ABF Teamsters to Receive COLA plus Annual Scheduled Raise
ABF-NMFA Article 33, Sec. 4 – COLA
Based on the Consumer Price Index (CPI-W) figures released February 10th, by the Bureau of Labor Statistics, the Teamster membership covered by the 2018 – 2023 ABF NMFA will be due a cost-of-living allowance per Article 33, Section 4 when the next scheduled hourly and mileage increase takes place on July 1, 2022.
As you know, ABF Teamsters covered by this agreement are eligible for an annual COLA in 2022 that allows a one cent ($0.01) per hour and .25 mils per mile increase for every 0.2-point increase in the index in excess of 3.5% and at least totaling $0.05. Reaching an index level of 276.296 in January 2022, the CPI-W increased 12.065 points above the January 2021 Index plus 3.5%, and that translates to the following COLA increases:
$0.05 per hour
0.125 cents per mile
Please note these increases are in addition to the negotiated increases per the 2018 – 2023 ABF NMFA settlement which are effective July 1, 2022:
$0.50 per hour
1.250 cents per mile
Essentially, this means that hourly wages are scheduled to increase by $0.55 per hour and 1.375 cents per mile on July 1, 2022. The annual ABF COLA increase is contractually capped at $0.05 cents per hour. As previously indicated, however, qualified ABF workers have received a profit-sharing bonus this year in the amount of 3% of their 2021 W-2 earnings.
Please note this is the first wage COLA payable to our ABF freight members since 2006.