Download or read book Retiree Health Plans in the Public Sector written by Robert L. Clark and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: While retiree health plans are a dying benefit in the private sector, all US states and many local governments extend health insurance coverage to their retired employees. This book is the first to thoroughly examine public sector health insurance plans. Retiree Health Plans in the Public Sector provides a detailed description of the current plans offered and compares how they vary across states. Health insurance is an important component of compensation in the public sector as it helps governments attract and retain quality workers and encourages timely retirement for career employees. Rapidly rising medical costs, an aging labor force, and an increasing number of retirees have dramatically increased the cost of providing this benefit. A central theme of this analysis is a presentation of the actuarial accrued liabilities, the unfunded liabilities and the annual required contribution of the employers based on the actuarial statements for retiree health plans. The authors alsoinvestigate why some states face major funding problems while the costs of other states? plans are much more manageable. Extensively researched and well-suited for classroom and professional use alike, academics in the fields of economics and public policy will find this an unmatched resource. So too will policymakers, economists, legislators, public sector union leaders and those invested in public sector healthcare.

Download or read book The Funding Status of Retiree Health Plans in the Public Sector written by Robert Clark and published by . This book was released on 2010 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: While no longer common in the private sector, most public sector employers offer retiree health insurance (RHI) as a retirement benefit to their employees. While these plans are thought to be an important tool for employers to attract, retain, motivate, and ultimately retire workers, they represent a large and growing cost. This paper reviews what is currently known about RHI in the public sector, while highlighting many important unanswered research questions. The analysis is informed by detailed data from states on their liabilities associated with RHI, which were produced in accordance with the 2004 Government Accounting Standards Board Rule 45 (GASB 45). We consider the extent of the unfunded liabilities states face and explore what factors may explain the variation in liabilities across states. The importance and sustainability of RHI plans in the public sector ultimately depends on how workers view and value this post-retirement benefit, yet little is known about how RHI directly impacts the public sector labor market. We conclude with a discussion of the future of RHI plans in the public sector -- National Bureau of Economic Research web site.

Download or read book Iceberg Ahead written by Edmund J. McMahon and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "New York taxpayers spend billions of dollars a year on health insurance coverage for retired state and local government employees, many of whom are too young to be eligible for Medicare. But the mounting "pay-as-you-go" bill for retiree healthcare is just the tip of a much larger iceberg. Now, thanks to a new government accounting standard, the true cost of this long-term entitlement is finally emerging from the murky depths of state and local finances. Based on a review of financial reports for the state and its largest local governments, school districts and public authorities, this report estimates that New York's total unfunded liability for public-sector retiree health insurance comes to $205 billion. This figure represents a mammoth potential transfer of wealth from future taxpayers to current government employees and retirees--for a type of benefit that is not available to the vast majority of private-sector workers. The burden of retiree health care is clearly unsustainable and unaffordable. This report, designed as a primer on the issue for taxpayers and government officials, recommends a four-step plan for curbing retiree health care costs before it is too late."

Download or read book The Role of Retiree Health Insurance in the Early Retirement of Public Sector Employees written by John B. Shoven and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most private sector workers with employer-provided health insurance have a strong incentive to continue working until Medicare eligibility in order to maintain group health coverage. However, most government employees have access to retiree health coverage, which allows them access to group health coverage even if they retire before Medicare eligibility. We study the impact of retiree health coverage on the probability of stopping work among public sector workers between the ages of 55 and 64. We find that, for state and local government employees, retiree health coverage raises the probability of stopping work by 5.1 percentage points (around 28 percent) between ages 60 and 64. However, we find no evidence that retiree health coverage influences state and local employees' decisions to stop work at ages 55-59, or that such coverage has an effect on the probability of stopping work for federal and military employees.

Download or read book How Does Retiree Health Insurance Influence Public Sector Employee Saving written by Robert Louis Clark and published by . This book was released on 2013 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic theory predicts that employer-provided retiree health insurance benefits crowd-out household wealth accumulation. Nevertheless, there is little research on the impacts of retiree health insurance on wealth accruals, so this paper utilizes a unique data file on three baseline cohorts from the Health and Retirement Study to explore how employer-provided retiree health insurance may influence net household wealth among public sector employees, where retiree healthcare benefits are still quite prevalent. We find that most full-time public sector employees who anticipate receiving employer-provided health insurance coverage in retirement save less than their private sector uncovered counterparts.

Download or read book Report Fiscal Year Ended written by United States Civil Service Commission. Bureau of Retirement and Insurance and published by . This book was released on 1965 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Federal Employees and Retirees Health Benefits written by United States. Congress. House. Committee on Post Office and Civil Service. Subcommittee on Retirement, Insurance, and Health Benefits and published by . This book was released on 1970 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Federal Employees and Retirees Health Benefits Hearings Before the Subcommittee on Retirement Insurance and Health Benefits 91 2 on H R 767 March 18 24 25 and 26 1970 written by United States. Congress. House. Post office and Civil Service and published by . This book was released on 1970 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Early Retiree Health written by United States. General Accounting Office and published by . This book was released on 1994 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Retiree Health Benefits written by United States. Congress. House. Select Committee on Aging and published by . This book was released on 1985 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Additional Employee Health Benefit Plans written by United States. Congress. House. Committee on Post Office and Civil Service. Subcommittee on Retirement, Insurance, and Health Benefits and published by . This book was released on 1965 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Health Benefits Program for Certain Retired Government Employees written by United States. Congress. House. Committee on Post Office and Civil Service and published by . This book was released on 1960 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Report Civil Service Retirement Federal Employees Group Insurance Federal Employees Health Benefits Retired Federal Employees Health Benefits written by United States Civil Service Commission and published by . This book was released on with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Health Care Benefit Costs for Retired Public Employees written by Susan K. Claveria and published by . This book was released on 1987 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Federal Employees Staff Retirement and Survivorship Benefits Life Insurance and Health Benefits written by United States. Congress. House. Committee on Post Office and Civil Service and published by . This book was released on 1966 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Providing Health Care Benefits in Retirement written by Judith F. Mazo and published by University of Pennsylvania Press. This book was released on 1994 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume, from the Pension Research Council of the Wharton School, highlights many of the special health insurance problems facing the elderly and some of the solutions that any reform process must consider.

Download or read book The Health Care Benefits of Retirees written by Madelon Lubin Finkel and published by . This book was released on 1991 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: