inflation and wage inflation p flaition constant in all -- and surprise inflation constant iprice inflationconsta. there are lower rates particularly for california. we looked at all the systems that had an assumption of 7.5 or above and looked at what they're doing this year. they're only three other systems that have not already made a decision to go lower than 7.5 in california. we've talked about this, but this is the key thing reflecting the new asset allocation looking at any pcs assumptions over 5 to 7 years and over a 30 year timeframe. >> and both options, we're reducing the price inflation, one by 50 basis points, the other by 25 basis points. >> so to go quickly right back to the summary of the recommendations. we're happy to answer questions and get into more detail on any of the data behind them. but those are the options we're putting forward. we think both sets of options are reasonable. >> any questions from the board? >> more of an observation than a question. i always look at this spread number. the spread is widened. it leads to the contributors. i hate to use the word "bonus"