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Meaning of notch baby

notch' ba"by

Pronunciation: [key]
  1. a person who was born in the U.S. between 1917 and 1921 and as a retiree received lower cost-of-living increases in Social Security than others after Congress readjusted Social Security benefits in 1977.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.