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How much will removing the lifetime maximum on our retiree plan mean to our financial statements?

April 26, 2017financial statements lifetime maximum mean Plan removing retiree

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How much will removing the lifetime maximum on our retiree plan mean to our financial statements?

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A512. This will depend on how low your maximum is today, how your carrier is administering it and the precise methodology your actuary is currently using to measure it. In many cases, the lifetime maximum does not have a significant impact on the measurement of retiree obligations. You should talk with your actuary as soon as possible to gauge the potential impact.