Governments eye reductions in retiree health benefits

10/15/2012 | Reuters

More local governments are cutting benefits for retirees as it's estimated that U.S. health care costs per worker will increase to $11,188 next year, compared with $7,874 in 2007. "There is no guarantee for retiree health, there never has been. It is not as simple to cut as it is in the private sector, but it's a target and it's unfunded," says Paul Fronstin of the Employee Benefit Research Institute.

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