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A public report on Columbia retiree medical benefits, “Resuscitating Retirement Medical Insurance,” written by Eli Noam, Garrett Professor of Public Policy and Business Responsibility, emeritus, and until recently, Chair and Co-Chair of the University Senate Committees on Budget and on Benefits and now a member of the EPIC Steering Committee, has been released. The report provides valuable insight into various aspects of the medical coverage currently offered by the University, as well as the history of coverage, and the current uses of the $260 million trust fund established to support such coverage. Almost none of the gain of the fund is currently being used for the benefit of retired officers.
EPIC’s Steering Committee met to review the report and voted to support its recommendation that the University engage in a serious review and reformulation of retiree medical benefits for officers. The Steering Committee judged that the report, which includes an analysis, an historic overview, and recommendations about retiree medical insurance coverage, is of significant importance for EPIC’s membership.
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