Saturday, July 7, 2007

Substantially equivalent

The phrase "substantially equivalent in the aggregate" occurs throughout the proposed pension and benefit pages.

I take this phrase to mean (see legal disclaimer) that as long as, on average, people have comparable pensions and benefits ("comparable" is a tricky word here) then these people do not have a viable complaint.

Individuals may be hurt badly or may benefit tremendously. As long as the average result is comparable, then the terms of the deal apply.

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