MarketWatch

Vanguard reverses decision to cut retiree medical benefit after employee outcry

Investment giant Vanguard walked back a decision this week to cut its retiree medical benefit program, which helps pay for healthcare costs in retirement, after an outcry from current and past employees. The benefits in question are retiree medical accounts, also known as RMAs, which are investment accounts that allow individuals to pay for health insurance premiums. Vanguard, which had already stopped offering these benefits to new employees, terminated the program effective immediately on Monday, but changed its mind after workers said it was too sudden, according to a report in the Philadelphia Inquirer.

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