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To: DMaA who wrote (900)1/15/1998 9:40:00 AM
From: Zeev Hed  Respond to of 9980
 
David, you need the excess for "actuarial" reasons, otherwise, todays payer will pay less than what is required to support their retirement, and future payors will have to pay much more. Thus the excess. Now the excess will not be enough and the power to be are thinking about different solutions, including delaying retirements etc.

Zeev