Aon Hewitt's 2015 Retiree
Health Care survey of 349 companies covering 3.
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.
Initial changes employers made to retiree
health benefits affected future retirees
as opposed to then-current retirees
, but now more and more retirees
are "aging into" the program changes, and don't realize they won't be getting benefits anymore.
This year alone, health benefit costs for retirees
are expected to increase some 6 percent for pre-65 retirees
and some 4 percent for post-65 retirees
, according to a Towers Watson 2010 Retiree
Health Care Cost Survey.
Call it by either term, but this is what the city of Worcester has committed for many years to enroll over 80 percent of its retirees
Categories: Income Security, Accountability, Cost analysis, Employee medical benefits, Employee retirement plans, Federal employee retirement programs, Federal/state relations, Health care costs, Local governments, Pensions, Program management, Retirees
, Retirement, Retirement benefits, Retirement income, State employees, Statistical data, Strategic planning
This is an important first step in more fairly compensating military longevity retirees
who qualify for service-connected disability compensation," said National Legislative Director Joseph A.
Council representatives serve a four-year term, and are required to travel to Randolph Air Force Base, Texas, to meet with the Air Force Retiree
Council and other official functions.
The GFOA survey of members' practices with respect to retiree
health care indicates that public-sector employers are taking a hard look at the cost of providing retiree
At Chevron, we view retiree
health-care as a conditional and uncertain liability.
Several years ago, FASB investigated cost-based accounting for retiree
health care costs and determined that this practice did not accurately represent corporate liability for retiree
Accustomed to paying only for medical services as they're utilized by retirees
, employers now will be forced to recognize the costs of retiree
medical benefits in advance of their payment--much as they've handled pension benefits in the past.