COLA ISSUE CONFUSES FEAR WITH COLD, HARD FACTS.(MAIN)

Byline: GREG SCHIFFER UTICA

I read with great interest the March 1 letter from Cynthia Wilson, President of the Retired Public Employees Association.

She takes to task criticism of a cost-of-living adjustment (COLA) based on how it would adversely affect state and local governments. She closes endorsing the COLA as a way to ``relieve the fears of current employees who are now facing retirement.''

Perhaps Ms. Wilson is confusing fear with facts. In 1976 the state and local retirement system enacted three basic changes.

1. All new members must pay in 3 percent.

2. A 60 percent maximum benefit cap.

3. A huge pre-age-62 …