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2026 Cost of Living Adjustment. <br /> <br />While a cost of living (COLA) increase is not guaranteed each year, the 2026 budget includes an 8% <br />COLA adjustment for the City Clerk. The Social Security COLA for 2026 is 2.8%, while the <br />Minnesota COLA is currently estimated at 2.6%. The current infiation rate is estimated at 3.0%. <br />The action tonight is to discuss a possible COLA increase for 2026 to be effective with the flrst <br />payroll cycle in January 2026.