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States Try to Pop Pension Woes with COLA Changes
Reuters 
June 6, 2012 "According to a National Association of State Retirement Administrators report ..., since 2009, 11 states have changed the cost-of-living adjustments, or 'COLAs,' to benefits for current retirees. Five states have changed them for current employees' future benefits and six have changed them for future hires. ... States are short $660 billion for future pension benefits, according to the Pew Center on the States." |
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