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Kodak Looks to End Health Benefits for Some Retirees

Eastman Kodak Company plans to end health care benefits for many retirees as a cost-cutting measure in its reorganization under Chapter 11 bankruptcy protection.

Kodak retirees were notified of the company’s plans in a letter from Kodak Monday. As part of the bankruptcy, Kodak has to get permission from the court to take the action.

WXXI Innovation Trail report Zack Seward has an extensive wrap up of the motion.

The letter explains who would be affected in this paragraph:

The motion filed by the Company would discontinue retiree benefits under Kodak’s medical plan (defined in the motion as “Medicare Enhanced Benefits”) for the following individuals who have attained age 65 (regardless of Medicare eligibility) or are under age 65 and Medicare eligible: Former employees who retired on or after October 1, 1991; Former employees who became eligible for long-term disability benefits on or after October 1, 1991; Current employees who are retirement eligible when they leave the Company; and Survivors and dependents of these individuals.

The plan will be discussed in a court hearing scheduled for March 20.

 

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