Our projected expenses under FAS 106 for retiree
medical benefits will more than quadruple from $900,000 on a pay-as-you-go cash basis to a net, after-tax figure of more than $4 million.
The accrued liability figure is the present value of (1) benefits currently owed to retirees
and (2) accrued benefits for active workers who will retire with these benefits.
Warshawsky discusses several current court cases involving attempts by employers to change or terminate health care benefits provided to current retirees
Despite rain, snow, steep slopes, hot temperatures, and going from sea level at Richmond (a suburb of San Francisco) to 6,000 feet in a matter of hours, the Chevron retirees
have never had an injury or had anyone collapse.
fell into the following projected time frames of retirement: 1987-1990 (n=27); 1991-1995 (n=53); and 1996-1999 (n=49).
para]]Aon Survey Shows 66% of Companies Planning to Make Changes to Pre-65 Retiree
Strategies; Most Favoring an Exchange Approach[[/para]]
Many employers have concluded that their pre-65 retiree
medical benefit programs are a costly obligation that fails to meet their current benefit or workforce management objectives, adds Parson.
And, the EBRI report notes, while many employers no longer offer retiree
health benefits, most that have continued to do so have made changes in the benefit package they offer: raising premiums that retirees
are required to pay, tightening eligibility, limiting or reducing benefits, or some combination.
Called the Connector Model, this new strategy helps connect retirees
to individual health coverage options based on their needs, and helps employers lower their costs and administrative challenges.
The explanation of why the city of Worcester did this to its retirees
The issue has now been cleared up, and accountants are trying to figure how much is already owed to military retirees
EDWARDS AIR FORCE BASE -- The Air Force Retiree
Council has an upcoming vacancy for the Area II (California) representative.