A new ruling announced on 12/26 by the Equal Employment Opportunity Commission (EEOC) , according to a New York Times article, U.S. Ruling Backs Benefit Cut at 65 in Retiree Plans, said that employers could reduce or eliminate health benefits for retirees when they turn 65 and become eligible for Medicare. The policy, set forth in a new regulation, allows employers to establish two classes of retirees, with more comprehensive benefits for those under 65 and more limited benefits - or none at all - for those older.
The U.S. Equal Employment Opportunity Commission (EEOC) announced the publication of the final rule allowing employers that provide retiree health benefits to continue the longstanding practice of coordinating those benefits with Medicare (or comparable state health benefits) without violating the Age Discrimination in Employment Act (ADEA). The regulation, which safeguards retiree health benefits, was published in the Federal Register and is available on the EEOC's web site at http://www.eeoc.gov/policy/regs/index.html.
Click here for EEOC's press release for more about this new ruling.
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Hi Lawrence,
Yikes, I wonder how many people know about this? I'll follow your links to read more. Thanks for sharing!