This means that today's work force is making the payments for the current retirees.

For most current and future retirees, we will average your 35 highest years of earnings.

But full benefits would still be paid to current retirees and to everyone else within 10 years of retirement or much longer.

Medical costs for current retirees are already included in the rates.

Those who stand in the way are hurting current and future retirees.

But taxes paid by working people are used to pay benefits to current retirees.

So far, there has not been any effect on the benefits received by current retirees.

The most recent figure was 17.67, which suggests a 5 percent withdrawal rate for current retirees.

That money would otherwise have gone to pay benefits for current retirees, however.

The money going into the accounts would therefore no longer be available to pay benefits to current retirees.