The opening balance from the prior month combined with the net of all transactions during the period should result in the closing balance for the current statement.
A cost-of-living raise is an increase in pay that's intended to keep the buying power of an employee's salary the same during a period of inflation.he biggest group affected by cost-of-living raises is Social Security recipients. Some employees have contracts that include automatic cost-of-living raises. Others work for companies that voluntarily increase pay to keep pace with inflation.
As expected, the cities with the highest total living expenses were New York, Washington, D.C. ($88,600), Boston ($85,600) and San Francisco ($84,100). The median cost of modest living was $63,000 for a family of four living in Newaygo County, Mich., EPI said.