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Politics : Politics for Pros- moderated

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To: KLP who wrote (93528)1/4/2005 10:01:11 AM
From: Lane3  Read Replies (1) of 793750
 
Currently, initial benefits are set by a complex formula that calculates workers' average annual earnings in their 35 highest-paid years and adjusts those earnings up from those years to reflect standards of living near that worker's retirement age. That adjustment is based on wage growth over that time span. Under the commission plan, the adjustment would be based instead on the rise of consumer prices.

Finally. Finally an explanation of the wage/price thing. Kudos to the Post.
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