Retireerism

Retireeism is a pejorative term used to describe the practice of assigning certain benefits, rights, or advantages to employees who have retired from a company or organization. This can include, but is not limited to, continued health insurance, pension benefits, or access to company assets.

Retireeism often arises from a combination of factors, including labor laws, company policies, and contractual agreements. In some cases, companies may have legally binding obligations to provide certain benefits to their retired employees, either as a matter of local law or as a result of collective bargaining agreements.

However, retireeism can have negative consequences for the company itself. It can create instances of favoritism, where retired employees are treated more favorably than active employees, which can lead to decreased morale and motivation among current employees. Additionally, the financial costs associated with providing these benefits can be significant, potentially negatively impacting a company's bottom line.

In response to concerns surrounding retireeism, some companies have begun to adopt different retirement policies and benefits strategies, including 'non-qualified' or'supplemental' retirement plans. These plans allow companies to provide additional benefits to senior employees without creating unintended consequences or burdens on the business.

The legality and tax implications of retireeism vary widely depending on jurisdiction and the specifics of each company's policies. As such, the practice of retireeism continues to be an evolving and complex issue in the realms of employment law and business management.