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Wouldn't the starting payout for 62 year olds have been adjusted up by the same 2009 COLA increase? If so, they're not losing out on anything. If not, then what do they use to determine how much to raise the starting payouts for retirees each year if not the COLA?

It looks like the strictly correct thing to do in periods of deflation would be to reduce the payout when the COLA is negative. But I can see where that wouldn't go over well....
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