To any old IBM employees. I remember my dad explaining how he was taking a reduced retirement to ensure my mom was covered if he passed first. Does anyone remember this, have copies of the paperwork and more importantly know if this reduction was for retirement income OR retirement income AND insurance. TxwilsonATsbcglobalDOTnet
For the vast ill-informed: Yes the medical plan is changing beginning in 2014. However, in the past, IBM has spent $ XXXX amount of dollars on retiree medical coverage. As I understand the new plan, we now have more options for our medical insurance and IBM puts the $ XXXX amount of dollars into a Health Reimbursement Arrangement ( HRA ) which is a tax free account that we can use to pay out of pocket expenses. So, until we or you know more about the plan, I feel it is far too premature to criticize IBM for making this change. It believe IBM recognizes that OBAMACARE will cause medical care to sky rocket and is making an attempt to figure out a way for us to afford medical coverage. So, if anything, blame OBAMA!!!!
36 year retired IBM employee here. Yes I do remember the offering. Usually the employee would take a reduced retirement pension so that the spouse would receive 50% of the retirement check if the retiree passed on. There were different percentages offered and the most expensive (vastly reduced pension) gave the spouse 100% of the retirees pension check.This is separate from any life insurance or medical insurance.