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.
Members of Congress are eligible to receive the same annual cost-of-living increase given to other federal employees, if any. The raise takes effect automatically on January 1 of each year unless Congress, through passage of a joint resolution, votes to decline it, as Congress has done since 2009.