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Several million retirees have spent so much on their prescriptions in recent years that they crossed over into the “catastrophic” phase of their Medicare drug plans. Once catastrophic coverage kicks in, Part D drug plans require retirees to pay only 5 percent of their medication costs out of their own pockets. But there’s a catch:…
The brief’s key findings are: The conventional wisdom is that all state and local government workers receive a lifetime annuity in retirement from their employer pension plan. The analysis confirms this presumption for most workers, but also finds that a small share will receive some income that is not annuitized. About 6 percent of a…
