By William Crum Staff Writer wcrum@oklahoman.comThe Oklahoma City Council on Tuesday deferred for two weeks action on two proposals to curtail retirees' health insurance benefits. The changes would create two classes of employees for the purpose of allocated health insurance costs. One proposal eventually would end the city's practice of paying a portion of retirees' health insurance premiums, shifting the entire weight of those costs to retired employees. The other would require some current employees to work longer and would raise the age limit before they qualify for retiree health coverage cost-sharing. Finance Director Craig Freeman said there is a $400 million gap between the resources necessary to fully fund long-term retiree health liabilities, as they currently stand, and present funds. He said the city has relied on a pay-as-you-go approach to fund its annual contribution to retiree health insurance costs. The fiscal 2017 budget includes nearly $16 million to cover those obligations, Freeman said.Read more on NewsOK.com
Oklahoma City Council Defers Retiree Health Care Action
NewsOK.com RSS - business, Daily Oklahoman: Business
Tue, 10/25/2016 - 5:40pm
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