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ERIC Number: EJ883590
Record Type: Journal
Publication Date: 2008
Pages: 5
Abstractor: ERIC
Reference Count: 0
ISBN: N/A
ISSN: ISSN-1068-1027
Facing up to Post-Retirement Medical Costs
Biggs, John H.
Trusteeship, v16 n5 p15-19 Sep-Oct 2008
In the late 1990s, the Andrew W. Mellon Foundation made grants to study people's attitudes toward retirement and to determine what factors influenced their decisions to retire. Although faculty were not talking to college administrators or human-resources departments about health care, the researchers found to their surprise that when they surveyed and interviewed faculty members, covering post-retirement health costs was a major concern for those considering retiring. Furthermore, similar anxiety about health-care costs was found in a survey sponsored by the life-insurance in the general population. In 2003, based on the study group's recommendations, a non-profit entity called Emeriti was created to allow institutions and eligible faculty and staff to make defined contributions into tax-advantaged health-savings accounts. This article mentions the key features of the program and discusses how the program can offer possible solution to the growing problem of paying for post-retirement health care for non-profit colleges and universities, public or private, large or small. (Contains 1 table.)
Association of Governing Boards of Universities and Colleges. 1 Dupont Circle Suite 400, Washington, DC 20036. Tel: 800-356-6317; Tel: 202-296-8400; Fax: 202-223-7053; Web site: http://www.agb.org
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A