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Article: Retiree health benefits likely to keep shrinking.(Brief Article)
- Article from:
- HRMagazine
- Article date:
- November 1, 2001
- Author:
CopyrightCOPYRIGHT 2001 Society for Human Resource Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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More employers plan to cut back on providing retiree health benefits chiefly because of recent changes in accounting procedures, age discrimination rulings by federal courts, increases in health care costs and pending federal legislation, according to a recent report by the Employee Benefit Research Institute (EBRI) in Washington, D.C.
The report notes that the downward trend in retiree health benefits is not that apparent to current retirees. Courts have ruled that an employer has no right to terminate or amend retiree health benefits unless it has proved that such a right has been reserved or stated in specific language and is widely known among retirees and ...