Leave Market Gains Out of Pay Picture
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* Gov. Gray Davis should not cave in to the pressures to pass on [market] gains for more than 800,000 government workers and retirees [“CalPERS, Flush With Market Gains, Wants to Boost Retiree Pay,” June 17].
If the market dropped significantly, would the workers and retirees then agree to a cut? You can be sure that they would not.
RONALD A. HAW
Culver City
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