Thursday, August 05, 2010

City Death Benefit

While the City of Cincinnati is wrestling with it's pension plan, one place to look for possibly some small savings is it's death benefit. Raised from $1,000 about a decade ago to $7,000 today, does indeed reflect the cost of burial and a funeral. I think my mom's was $11,xxx. You can get buried for considerably less & a simple cremation can be had for under $1,000.
I would suggest a cap of $6-7,000 to be paid when the survivors submit billing for the retirees funeral. Sure, there would be room for the survivor to profit off their loved ones demise but requiring the bill should cover a lot of those issues & the money is to bury the retiree not spread an equal amount of cash around to relatives.
Lowering the benefit to $2,000, as recommended, is pretty drastic.

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