Sunday, September 08, 2013 5:51 pm
Time Warner joins IBM in retiree health switch
The Associated Press
Company spokesman Keith Cocozza confirmed the plan Sunday.
The move, which was earlier reported by Reuters, is similar to a change confirmed by IBM on Saturday.
Both companies plan to allocate money to special accounts for retirees, which they can use in purchasing coverage.
Such moves are meant to lower costs and are part of a corporate trend away from providing traditional retiree health benefits as costs rise.