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Retire in the black.(retirement benefits)

Consumer Reports

| January 01, 2005 | COPYRIGHT 2005 Consumers Union of the United States, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

For many Americans, the dream of a secure and comfortable retirement is slowly receding. Consider Louis H. Cohen. When he retired in 1999 from Time-Warner, the communications giant, where he had served as chief financial officer for the books division, he and his wife, Ann, expected to have no trouble getting by. He had a pension, $10,000 in savings, and a home worth about $250,000 in Merrick, N.Y.

But then, Eke an increasing number of retirees, Cohen lost his employer-sponsored retirement health benefits. And Ann's condition--she had battled multiple sclerosis for years--deteriorated. Soon the Cohens were spending up to $3,000 a month on prescriptions, doctor ...

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