Corporate retiree health benefits threatened by financial pressures. (Symposium: Health Care)

From: Review of Business | Date: December 22, 1992| Author: | Copyright information

Companies with sizeable unreported liabilities for payment of retiree health care costs will show weaker financial positions once Financial Accounting Standard (FAS) 106 is implemented. This is due to pay-as-you-go practices in which retiree health expenses are taken out of current revenue. FAS 106 requires companies to recognize retiree health costs in financial reports as a lump sum. In effect, companies are prefunding these benefits on paper without actually taking out cash in a lump sum.

Many companies, especially larger ones, provide health benefits to their retirees, often to spouses ...

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