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Examples
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The key points are to increase employee contributions, reduce the noncompounded cost of living adjusment for retirees and require current employees to work slightly longer to increase their final retirement pay.
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The city currently hands out mostly automatic 3 percent, noncompounded increases each year in pension payments.
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The law, which is for simple noncompounded interest, applies to any deposit of money that is held by the landlord for the tenant based on an agreement, such as a security deposit.
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