Hennepin County, Minnesota follows specific guidelines and formulas when calculating the Cost of Living Adjustment (COLA) for child support payments. The COLA ensures that child support amounts keep up with inflation and changes in the cost of living. Here are the key factors and types of COLA calculations used in Hennepin County: 1. Consumer Price Index (CPI): Hennepin County uses the CPI to determine the percentage increase in the cost of goods and services over a specific time period. The CPI measures changes in the average prices paid by urban consumers for a market basket of goods and services. It is widely recognized as a reliable indicator of inflation. 2. Basic Child Support Obligation (BCO): The BCO is the starting point for calculating child support in Hennepin County. It is based on the combined income of both parents and the number of children requiring support. The COLA calculation is applied to the BCO amount to adjust it for changes in the cost of living. 3. Annual COLA Adjustment: Hennepin County recalculates child support every year to reflect the most recent changes in the cost of living. The annual COLA adjustment is typically determined by comparing the CPI for the calendar year with the CPI from the previous year. If there is an increase in the CPI, the COLA adjustment will be applied to the child support amount. 4. Historical COLA Adjustments: Hennepin County keeps a record of previous COLA adjustments for child support. This allows them to track the changes in child support amounts over time and ensures consistent application of the COLA calculation formula. 5. Mandatory Review Period: In Hennepin County, child support orders are subject to review every three years. During this review, the COLA adjustment is considered to determine if the child support amount needs to be modified due to changes in the cost of living. If the CPI has increased significantly since the last COLA adjustment, a modification may be necessary. Hennepin County aims to provide a fair and accurate child support calculation that reflects the changing economic conditions. The COLA calculation plays a vital role in ensuring that child support payments keep pace with inflation and the rising cost of living in Minnesota.
Hennepin Minnesota Cost of Living Adjustment Calculation for Child Support
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