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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (212823)12/7/2004 7:41:13 AM
From: Amy J   of 1574215
 
Here's a 'small' detail about Bush's proposal - he ties payout to inflation, rather than rate of wage growth. Today, benefits are tied to wage growth.

So what this means:

While Congress would get their 4% raises even if it's during one of the worst economic downturns, the retires would get a raise of 2% because CPI doesn't include gas, food and real estate (the stuff you can live without).

But I would still be for the plan, if savings weren't capped at 1k.

3.6k savings cap would be acceptable, but nothing less.

"That's because starting benefits would be tied to the rate of inflation, rather than to the rate of wage growth"
money.cnn.com
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