X hits on this document

50 views

0 shares

0 downloads

0 comments

21 / 27

  • *

    See Appendix for a list of sources.

Benchmarking

Employer

Unfunded Liability

Actions Taken/Proposed

Los Angeles Unified School District

~$10 Billion

  • Conduct employee surveys & evaluate results to recommend changes to

current program

  • Examine & develop Plan Design changes in collaboration w/ Health Benefits

Committee & Board members

General Motors

~$61 Billion

4

  • Cut benefits of 85,000+ salaried retirees

3

Establish savings program to enable union workers to set aside money to use later; will contribute $3 Billion to the program over the next 5 yrs 3

Ford

~$32.4 Billion

4

  • Cut 25,000-30,000 workforce

4

~$22.5 Billion

7

~$469 Million

8

~$1.38 Billion

10

Verizon

San Mateo County

San Diego County

  • Freeze retiree medical & pension benefits

7

Expand budget by $29.2 Million to reduce unfunded liability for the fiscal year 2005-06 9

Reduce benefits Sell bonds to offset losses for county’s investment fund Assess new taxes 11 11

10,11

~$1.3 Billion

12

~$16 Billion

15

Orange County

Los Angeles County

No employee wage increases for at least 2 yrs Healthcare concessions from employees 14

  • Healthcare concessions from employees

15

14

~$3.2 Billion

15

~$108 Billion

15

~$9.8 Billion

19

City of Los Angeles

State of California

United Airlines

IBM

Fresno Unified School District

~$5.89 Billion

23

~$1.2 Billion

25

Cuts to programs & services Possible limits to subsidy increases 15

15

  • Possible cuts to programs & services in the future

15

Chapter 11 Bankruptcy Cut 23,000+ workforce Reduce pensions & benefits 21 21

21

  • Cap payments for retirees’ coverages

3

Adopt cash-balance plans; freeze defined benefit pension in 2008 & make more contributions to 401(K)s 24

Reduce expenditures Contain health & welfare benefits cost 26

26

21

Document info
Document views50
Page views50
Page last viewedSat Dec 03 16:36:40 UTC 2016
Pages27
Paragraphs595
Words1929

Comments