Answer:
C) COLA plus 2.4%
Explanation:
COLA stands for cost of living increase. It refers to the amount that Social Security benefits increase according to inflation rate. This way the Social Security payments should not lose purchasing power against rising inflation, because if inflation rises, the COLA will also increase.
In this case, Nancy's union negotiated an agreement by which the union members' salaries would be 2.4% higher than COLA increases, so they will be 2.4% higher than inflation rate.
