Ad Hoc Coalition to Restore Retirement Security

Dear Senator Kerry:

We offer our congratulations on your many primary victories.  We are writing to ask that, as you continue your campaign, you give greater prominence to the importance of fulfilling retirement income needs, and we ask that your pledge to strongly support measures that will guarantee that pension and retiree health insurance promises will be kept.  

The undersigned organizations represent hundreds of thousands of individuals who spent their careers loyally working for some of the largest, most prominent and prosperous companies in the nation. We trusted our employers to make good on their promises that our hard work would be acknowledged and compensated during our "golden years".  Instead, without conscience or consequence, they significantly reduced, and in many cases canceled, the benefits we worked long and hard to earn.

We are pleased that you include pension issues in your Workers' Bill of Rights.  Specifically, we are heartened that you recognize the need for companies to be required to offer employees affected by "cash balance conversions" to be offered the option to remain in their traditional pension plans. You also acknowledge the unfairness of requiring employees in Enron-type situations to hold onto company stock held by their 401(k) plans when company officials are selling their shares.  

We ask that you pledge that if you are elected President you will take steps to ensure that individuals affected by Enron-type situations will be able to fully cover their losses, and that you will also support the measures outlined in the attached "Fulfilling the Promises" document that would remedy other equally egregious broken pension and health insurance promises.

Thank you for your consideration.  If you have questions or need further information, please contact the Coalition’s spokesperson, Janice Winston (215) 843-3357.

Sincerely,