Retired Pose For the difficult choice: it will cost millions
Friday, Mar 27,2009, 2:10:36 PM Click:
Copyright: The State, Columbia, s.c.
Source: State, The (Columbia, SC)
Wordcount: 542
Mar. 26 - On paper, it is an easy decision for members of Columbia City Council: management of retired employees of their health insurance premiums or losing $ 96 million in taxpayers' money.
But it is more difficult to do when these figures have a face - including a face like Joe King.
King came to the Wednesday City Council meeting, the oxygen tank trailer, asking advice from its members not to pay insurance premiums for his health.
"Try to understand the time to find the money to be able to retire is very difficult," said King, who retired last September after being diagnosed with a lung infection. "They had to make some changes . I just want to take into consideration the individual. "
King was one of about 100 current and former city employees - mostly firefighters - who showed up unannounced at the board meeting Wednesday to protest against the proposed changes to health. The city intends to require retirees to pay premiums for the first time. Employees will begin paying premiums July 1
If the city does not change, it will have to account for as much as $ 96 million in pension benefits to health. New national accounting standards require the city to put money aside each year to cover this cost.
This exercise, which ends June 30 city taxpayers would have to set aside $ 10 million. If the city does not provide that money aside, the costs will be carried over to next year, the cost plus 5 per cent interest.
"Everyone of you who have retired and given your life to the city, we understand," said Mayor Bob Coble firefighters. "But we are dealing with issues that compel us to do something."
The firefighters, most of burly men with arms, stands against the back wall of City Hall to make their presence felt by counsel in their opinion, has not communicated with them.
"The rumor and anger has been festering since we do not know," said Anthony Holloway, secretary of the Association of Columbia firefighters.
Council members have apologized and then took a closed meeting to discuss the health benefits of retirees. Coble and Tameike Councilor Isaac Devine said board members wanted a legal opinion on what, in any case, employees were promised about health insurance when they retire.
On the cover of the employee handbook of Colombia, are in bold letters that say: "not a contract." But many employees, who for years have witnessed the city has sponsored seminars on retirement planning, said they were free health insurance promised once they retired.
Holloway allusion firefighters consider a lawsuit if the city decides to make changes, but that nothing had been decided.
"We need to court in May to decide whether it's legal, but we know that it is immoral," he said.
The city of Greenville made a similar change to its pensioners, health and faces a trial of 15 former police officers. The officers argue that because of the health of the city promises to care, they do not have to purchase additional health insurance when they were eligible, according to the media.
This is an argument of several firefighters from Colombia made to Council members Wednesday.
Retired firefighter John Reich said municipal officials are often the firefighters say they think about retirement when they were denied merit increases during their careers.
"This health care is a carrot," he said.
Beam reach (803) 771-8405.
Source: State, The (Columbia, SC)
Wordcount: 542
Mar. 26 - On paper, it is an easy decision for members of Columbia City Council: management of retired employees of their health insurance premiums or losing $ 96 million in taxpayers' money.
But it is more difficult to do when these figures have a face - including a face like Joe King.
King came to the Wednesday City Council meeting, the oxygen tank trailer, asking advice from its members not to pay insurance premiums for his health.
"Try to understand the time to find the money to be able to retire is very difficult," said King, who retired last September after being diagnosed with a lung infection. "They had to make some changes . I just want to take into consideration the individual. "
King was one of about 100 current and former city employees - mostly firefighters - who showed up unannounced at the board meeting Wednesday to protest against the proposed changes to health. The city intends to require retirees to pay premiums for the first time. Employees will begin paying premiums July 1
If the city does not change, it will have to account for as much as $ 96 million in pension benefits to health. New national accounting standards require the city to put money aside each year to cover this cost.
This exercise, which ends June 30 city taxpayers would have to set aside $ 10 million. If the city does not provide that money aside, the costs will be carried over to next year, the cost plus 5 per cent interest.
"Everyone of you who have retired and given your life to the city, we understand," said Mayor Bob Coble firefighters. "But we are dealing with issues that compel us to do something."
The firefighters, most of burly men with arms, stands against the back wall of City Hall to make their presence felt by counsel in their opinion, has not communicated with them.
"The rumor and anger has been festering since we do not know," said Anthony Holloway, secretary of the Association of Columbia firefighters.
Council members have apologized and then took a closed meeting to discuss the health benefits of retirees. Coble and Tameike Councilor Isaac Devine said board members wanted a legal opinion on what, in any case, employees were promised about health insurance when they retire.
On the cover of the employee handbook of Colombia, are in bold letters that say: "not a contract." But many employees, who for years have witnessed the city has sponsored seminars on retirement planning, said they were free health insurance promised once they retired.
Holloway allusion firefighters consider a lawsuit if the city decides to make changes, but that nothing had been decided.
"We need to court in May to decide whether it's legal, but we know that it is immoral," he said.
The city of Greenville made a similar change to its pensioners, health and faces a trial of 15 former police officers. The officers argue that because of the health of the city promises to care, they do not have to purchase additional health insurance when they were eligible, according to the media.
This is an argument of several firefighters from Colombia made to Council members Wednesday.
Retired firefighter John Reich said municipal officials are often the firefighters say they think about retirement when they were denied merit increases during their careers.
"This health care is a carrot," he said.
Beam reach (803) 771-8405.
You may also be interested in:
Featured
Earnings roundup: DuPont, Delta Air Lines
Copyright: The Associated Press. All rights reserved. This material may not be
Federal insurance regulation needed, U.S. panel told
Noting that the Obama administration is expected to unveil its plan to enhance
Colo. Department of regulators Insurance Agent 'Strips
The Colorado Department of Regulatory Agencies has revoked Colorado Springs
ING Names Winners of "ING Run For Something
Copyright: PR Newswire Source: PR Newswire Wordcount: 1307 Metro Atlanta school
AnalystChoice.com Free Investment Opinion on PGR, NWL,
NEW DELHI, INDIA -- (MARKET WIRE) -- 06/03/09 -- Analyst Choice has combined
MIB Life Index Reports North American business of life
Braintree, MA. - (March 10, 2009) - North American application activity of life
Berkshire Hathaway Explains Investment Losses in
Berkshire Hathaway Inc., in newly released correspondence with the U.S.
MOST POPULAR
- Most Read
- Most Discussed
- Most Emailed
- Insurance Industry Campaign Contributions Lean in Favor of Democrats
- Total Admitted Assets for Top 25 U.S. Life/Health Writers Dr
- Class Action Suit against Nationwide Insurance
- MetLife's Bank Passes Federal Government's Stress Tests
- Indexed Annuity Sales Set A Record For 2Q 2009
- Insurance Department Releases Report on Executive Compensation at State's Largest Blues' Plans
- New York Life’s Top Ratings Affirmed by All Four Major Rating Agencies
- Best Removes From Under Review, Affirms Ratings of Liberty Bankers Life Insurance Company and Subsidiary; Outlook Negative
- Bank BOLI Assets Exceed $126 Billion in 2008
- LIMRA/McKinsey Study Reveals How Life Insurers Can Optimize
-
Back To Basics: 80/20 Principles Guide Big Wellness Success -
Interview: Eric Dinallo NY Backs Liddy, sees success in Bond -
Freddie, Fannie In Bonus; Troubled Mortgage Titans Lost $ 10 -
Employee Benefits Selections "Recession-resistant" since nearly 9 out of 10 workers in the United States plans to maintain or increase coverage for 2010, according to MetLife Open Enrollment -
Matt Lile Surrenders Insurance License After Financial Meltdown of Cosmopolitan Life -
Pilot To Copilot: 401(k) Plan Sponsors May Require Co-fiduci -
Obama Plan May Give Physicians leverage to press for the pro -
Blue Cross Blue Shield of North Dakota Names von Ebers President, CEO


Discuss this news
Click Here to see all comments