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UPS Partners
overworked husband
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<blockquote data-quote="soberups" data-source="post: 986884" data-attributes="member: 14668"><p>My understanding...and Hoax please correct me if I am wrong...is that if a management person waits to retire until age 55, the company picks up the cost of their medical benefits until they are eligible for Medicare at age 65. 10 years=120 months, assuming a $1k COBRA payment per month just to make the math easy, that equals a $120,000 incentive for staying until age 55 vs retiring earlier. It also puts a bullseye on the backs of those management people who are approaching age 55, there is <em>big</em> money to be saved for the company by whacking them just before they reach eligibility. That is how it was explained to me (by a management person) so if I am wrong let me know.</p></blockquote><p></p>
[QUOTE="soberups, post: 986884, member: 14668"] My understanding...and Hoax please correct me if I am wrong...is that if a management person waits to retire until age 55, the company picks up the cost of their medical benefits until they are eligible for Medicare at age 65. 10 years=120 months, assuming a $1k COBRA payment per month just to make the math easy, that equals a $120,000 incentive for staying until age 55 vs retiring earlier. It also puts a bullseye on the backs of those management people who are approaching age 55, there is [I]big[/I] money to be saved for the company by whacking them just before they reach eligibility. That is how it was explained to me (by a management person) so if I am wrong let me know. [/QUOTE]
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