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Response to timdog44 (Reply #8)

Sat Apr 6, 2013, 04:15 PM

17. they want to cut approx $660/yr if you're 65. at 85 you lose $1,147 a year (it's huge)

Chained CPI is a benefit cut that gets worse the longer a person is eligible for benefits. The average earner retiring at age 65 would get a $658 cut in annual benefits at age 75, a $1,147 cut at age 85, and a $1,622 cut at age 95. What is far more severe is the cumulative effect of the COLA cut as it compounds over time. The average earner retiring at age 65 would get a cumulative cut of $4,631 at age 75, $13,910 at age 85, and $28,004 at age 95. Proposed increases in benefits at older ages do not adequately compensate for the cut.

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Arrow 28 replies Author Time Post
KoKo Apr 2013 OP
dembotoz Apr 2013 #1
riverbendviewgal Apr 2013 #2
redqueen Apr 2013 #3
bvar22 Apr 2013 #4
winter is coming Apr 2013 #5
WorseBeforeBetter Apr 2013 #11
winter is coming Apr 2013 #20
WorseBeforeBetter Apr 2013 #23
WillyT Apr 2013 #6
antigop Apr 2013 #7
timdog44 Apr 2013 #8
Capt.Rocky300 Apr 2013 #9
timdog44 Apr 2013 #12
zeemike Apr 2013 #10
timdog44 Apr 2013 #13
hfojvt Apr 2013 #14
timdog44 Apr 2013 #15
hfojvt Apr 2013 #19
timdog44 Apr 2013 #21
LineLineReply they want to cut approx $660/yr if you're 65. at 85 you lose $1,147 a year (it's huge)
nashville_brook Apr 2013 #17
timdog44 Apr 2013 #18
duffyduff Apr 2013 #22
timdog44 Apr 2013 #24
whathehell Apr 2013 #26
timdog44 Apr 2013 #27
whathehell Apr 2013 #28
nashville_brook Apr 2013 #16
forestpath Apr 2013 #25
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