Other post retirement benefits, or OPRBs refer to and include all types of
benefits that an employee will receive upon retirement other than their
pension. For the purpose of this discussion I chose healthcare because I think
from an employee standpoint it makes the most sense to offer as an OPRB. The
text mentions that healthcare is usually the most significant, most
controversial and usually includes the highest dollar amount (Whalen et al,
2017). Health insurance plans typically pay for some or all of the service
although the amount is usually unknown (Whalen et al, 2017). Pension
payments are typically a set amount depending upon your years worked and
level of pay. Healthcare plans require an estimate of things as well as a
knowledge of martial and dependency status. A similarity that is mentioned in
the text is that both health insurance plans and pensions require the concept of
liability. A pension is usually a set amount that is limited while health
insurance is typically not limited and unpredictable (Whalen et al, 2017). I
think both a pension and health insurance is beneficial for an employer to offer
its employees.
References
Whalen, J. M., Jones, J. P., & Pagach, D. P. (2017). Intermediate Accounting:
Reporting and Analysis (2nd ed.). Cengage Learning.
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