May 22, 2023: Effective July 1st 2023, eligible Georgia State employees will receive a $2,000 Cost-of-Living Adjustment (COLA) recently approved by Governor Brian Kemp, the University System of Georgia Board of Regents and state legislators.
The majority of the COLA pay adjustments will be completed in July, but there may be unique situations such as job changes, and leave statuses, that may require manual pay adjustments through the end of August.
COLA -Eligibility 2024
All regular, benefits-eligible faculty and non-academic staff of the University System of Georgia who are actively employed on July 1, 2023, will be eligible to receive a $2,000 increase to base pay as a Cost-of-Living Adjustment (COLA). The increase will be prorated based on full-time equivalency (FTE).
The $2,000 salary adjustment is for all regular fully benefited (30+ standard hours) faculty and staff of the USG who are actively employed on July 1, 2023. The adjustment will be prorated based on full-time equivalency (FTE). Non-benefited employees, including temporary and those working less than 30 hours are not eligible for the adjustment. There may be exceptions to the eligibility population based on unit structure and funding.
Employees working less than 30 hours (less than .75 FTE) are not eligible. If the person is a regular, benefits-eligible employee working 30 or more hours per week, they will receive the prorated increase. Temporary staff and part-time staff working fewer than 30 hours per week are not eligible.
Yes, provided they are fully benefits-eligible, working 30 hours (.75 FTE) or greater and actively employed on or before July 1, 2023.
No, they must be actively employed in the eligible position on July 1st to receive the adjustment.
The $2,000 salary adjustment is only intended to cover the standard contract and not summer earnings. Related Policy BOR 22.214.171.124 Summer School Salaries
COLA Timeline 2024
The adjustment is effective July 1, 2023. Eligible employees will receive the $2,000 COLA if they are actively employed on or before July 1st.
- Eligible employees paid biweekly will see the increase in their July 14 paychecks.
- Eligible employees paid monthly will see the change in their July 31 paychecks.
- Eligible faculty on academic year contracts will see the increase on their August 31 paychecks.
No, the $2,000 cost of living adjustment (COLA) is an adjustment to your base salary. Eligible employees will receive an increase to their regular rate of pay. For example, for monthly paid employees, your paycheck will increase by $166.67 per pay period ($2,000/12). For non-exempt hourly employees, the hourly rate will increase to .9615/hr. The adjustment will be prorated based on the full-time equivalency (FTE).
COLA Other 2024
Payments will be subject to all applicable FICA Taxes, Federal Income Tax, and State Income Tax. Federal and State Income tax will be withheld at the employee’s normal tax rate.