Posted Sep 7, 2013 by Martin Armstrong
International Business Machines Corp. (IBM) is moving about 110,000 retirees off its company-sponsored health plan, They will be given a payment to buy coverage on a health-insurance exchange. The medical profession has out-priced itself and the contraction will become obvious starting in 2016.
Other companies are laying-off employees 2 to 3 years before reaching retirement. This is the new scheme to deal with pensions. Even the military is laying-off people and moving them to private contractors to escape retirement.