Re(1): 2009 COLA now up on Pension site IP: 97.102.135.198 Posted on December 18, 2008 at 02:33:08 AM by royhall
Hi All,
Just looked at the package and really feel stupid. I know, I know! I wish someone who really understands this stuff would explain it for us. One example is exhibit I. I'm in class 17 and I retired in 1995. Class 30 must be those who retired in 2008. I counted down from class 17 to class 30 and added that number to 1995. Exhibit IV is the CPI-U used. Using the data there, fiscal 2007 to fiscal 2008, there is a 4.35% increase in the CPI-U. My cummulative COLA is going up 4%. All looks well but poor class 30 seems to be getting short changed by 1% (they are getting 3%). They have never received a COLA, thier base is thier base, and the CPI went up 4%. How can they possibly get just 3%?
PS. If you retired in 2000 and the cost of bread went up 4% of what it was last year, shouldn't your last year's pension have gone up 4% if it is tied correctly to the CPI? Why is it your base pension from 2000 that went up 4%?
If that math teacher had worn longer dresses I might understand this stuff.
I'm also confused by Buck Consultants letter dated November 18, 2008. If class 30 is 2008 retirees, who is class 31 mentioned in the letter but not in attachment I?
Roy Replies: