Posted by: Kevin | December 27, 2007

A Special Message from the Equal Employment Opportunity Commission to Retirees

Drop Dead

The Equal Employment Opportunity Commission said Wednesday that employers could reduce or eliminate health benefits for retirees when they turn 65 and become eligible for Medicare.

To anyone staying in their corporate job just so they’ll have the retirement benefits, don’t bother.  This ruling just placed those benefits at the whim of your employer.  The decision makers for that employer can afford private insurance when they retire and are handsomely compensated for cutting costs.  Do the math.  Naturally, large corporations have hailed this ruling. 

Surprisingly, some unions have spoken in favor of it as well.  The thinking appears to be, less for the retirees means more for our working members.  History would indicate otherwise but maybe they know something I don’t. 

The end result here is that a vulnerable segment of society will become still more vulnerable.  Corporations have been relieved of the burden of keeping past promises to retired employees and we the tax payers (not to mention sons and daughters of retirees) will have to pay for the resulting mess.

Via Memeorandum

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