Post by stmayo11 on Apr 27, 2016 13:20:43 GMT
Effective August 1, 2016, the eligibility requirements for the U.S. Retiree Medical Payment Plan have been amended to require that all employees hired on or after August 1, 2016 have at least 10 years of service and attain age 55 to be eligible for retiree medical benefits.
Previously, the plan required that employees have at least 10 years of service and attain age 50 to be eligible for retiree medical benefits, and these requirements will still apply to employees hired or re-hired prior to August 1, 2016.
Additionally, any employee rehired on or after August 1, 2016, who was not eligible for retiree medical benefits at the time of their most recent separation of employment, will also be required to attain age 55 with at least 10 years of service to be eligible to receive retiree medical benefits.
The company retains the right to amend, modify, or terminate the Plan, in whole or in part, at any time and for any reason, subject to applicable law.
Previously, the plan required that employees have at least 10 years of service and attain age 50 to be eligible for retiree medical benefits, and these requirements will still apply to employees hired or re-hired prior to August 1, 2016.
Additionally, any employee rehired on or after August 1, 2016, who was not eligible for retiree medical benefits at the time of their most recent separation of employment, will also be required to attain age 55 with at least 10 years of service to be eligible to receive retiree medical benefits.
The company retains the right to amend, modify, or terminate the Plan, in whole or in part, at any time and for any reason, subject to applicable law.