Infographic: Retiree Medical Exit Strategy - Towers Watson
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Infographic: Retiree Medical Exit Strategy - Towers Watson

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Towers Watson’s proprietary Longitude Solution is a turnkey retiree medical exit solution that leverages a customized group annuity, issued by a highly rated insurance company, that transfers the ...

Towers Watson’s proprietary Longitude Solution is a turnkey retiree medical exit solution that leverages a customized group annuity, issued by a highly rated insurance company, that transfers the obligation to pay retiree health benefits from the corporate sponsor to the insurer.

The patent-pending solution lets employers overcome the traditional barriers to fully exiting their legal, accounting and regulatory responsibilities for retiree medical benefits.

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Infographic: Retiree Medical Exit Strategy - Towers Watson Infographic: Retiree Medical Exit Strategy - Towers Watson Document Transcript

  • towerswatson.com What is it? A solution that uses a customized group annuity to help employers exit retiree medical. Creates value for both companies and their retirees. •• Ends all legal, accounting and regulatory responsibility for retiree medical benefits •• Secures the retiree benefit without creating taxable income •• Accelerates tax deductions, eliminating the risk of future adverse tax law changes •• Sheds an off-strategy benefit Where? Contact your Towers Watson consultant for more information. The Longitude approach is a turnkey solution. Towers Watson assists employers throughout the entire process. •• Streamlined pricing process •• Towers Watson and our outside experts help you make informed decisions •• Transparency in the relationship •• Communication planning to promote retiree understanding and support •• A-to-Z implementation plan Why now? Interest rates have increased by more than 150 basis points from their lowest level Potential changes to the tax law Pending updates in mortality tables Allows management to focus on core business while shedding obligations in a way that can protect or enhance your brand and reputation Towers Watson’s Longitude Solution Retiree Medical Exit Strategy