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which CPI for TCP1?

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By scooby
Does anybody remember which CPI data is used for calculate the yearly adjustment of LLNL TCP1 pension benefit CPI inflator?

I can't remember if it is the CPI all factors, CPI urban worker wages, or CPI all factors minus food and energy.

It is the average of Feb - Feb annual rate for SFO and Los Angeles urban areas, but I can't remember which measurement.

For LA depending on which one is used, it can be between 0.1 and 1%, for SF it will be between 2% and 3.5% based on recently released data.

So the expected increase in July will be either 1% or 2% depending on which measurement is used.

Anybody have the reference?

Comments

Anonymous said…
According to an old thread in
this blog from 2008, the CPI-U is used. It is the average of the annual year over year increase in LA and SF measured in Feb.

According to the BLS, the LA CPI-U
Feb 14 to Feb 15 is 0.1 %. For the same period the SF area CPI-U IS 2.5%.

This yields a UCRS and TCP-1 COLA estimate of 1.3%.
4/07/2015 10:33 PM
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