BROWN BRIDGMAN CHANGES ITS NAME TO PREMIT GROUP, INC.
BROWN BRIDGMAN CHANGES ITS NAME TO PREMIT GROUP, INC. NEW YORK, March 1 /PRNewswire/ -- The team that created PREMIT (c) (Prefunded Retiree Medical Investment Trust), the first product developed specifically to help corporate America pre-fund its post- retirement health benefits, has changed its name to the PREMIT Group, Inc. to underscore its singular corporate mission. Previously known as Brown Bridgman & Company Retiree Healthcare Group, the company also announced that it will be expanding into new offices at 1675 Broadway, New York, N.Y., 10019, telephone, 212-581- 1100, fax: 212-581-2413. In making the announcement, Fred Van Remortel, president and chief executive officer of PREMIT Group, Inc., said, "We are proud to make these important changes at the beginning of an important year for Corporate America. This is the year FASB's rule 106 goes into effect and PREMIT is already responding to corporation's needs in the prefunding arena for post-retirement health benefits." Since the early 80s, Fred Van Remortel has studied this important issue. Dissatisfied with the options available as prefunding mechanisms, he created the PREMIT program. The issue was then the focus of media attention and Van Remortel became the acknowledged expert to government, the private sector and Americans everywhere. As Americans are getting older and healthcare costs are soaring each year, it has become imperative for creative solutions such as the PREMIT program to be utilized in managing the enormous liabilities facing corporate America. The PREMIT program is a clone of the pension fund, enabling corporations tax-deductible contributions and tax-free earnings. It is the most efficient funding vehicle available to corporations faced with a retiree health liability. -0- 03/01/92 /CONTACT: Fred Van Remortel, president of PREMIT Group, 212-581-1100, or Michael Anstendig of Jay DeBow & Partners, 212-315-8242, for PREMIT Group/ CO: Brown Bridgman & Company; PREMIT Group Inc. ST: New York IN: HEA, FIN SU:
JP -- NYSU001 -- 3664 03/01/92 09:00 EST
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|Date:||Mar 1, 1992|
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