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  • Retiree benefits drain finances ( Exploiting pension funds )

    05/08/2006 5:57:46 PM PDT · by george76 · 8 replies · 723+ views
    Milwaukee Journal Sentinel ^ | May 7, 2006 | AVRUM D. LANK and DAVE UMHOEFER
    Enhanced pension deals are county's albatross... The county has the distinction of carrying more retirees (6,050) than active employees (4,631) on county health insurance. Add in 3,100 spouses and dependents of retirees, and the county is insuring more than 9,000 individuals on the retiree side. The county now pays out more in health care for retirees than for active employees. In addition to her monthly check, she was promised, and cherishes, free health insurance for the rest of her life. It is the sum of such promises to Schumann and 6,000-plus other retirees that is a major stumbling block as...