Lucent NRLN Lucent - Nokia Chapter

Chapter President’s Message

Joe Sciulli
Chapter President

AT&T Slashed Promised Life Insurance for Former Workers—and Time Runs Out at Year-End

HELP YOUR FELLOW RETIREES:

I want to call your attention and invite your comments to the recent article in the Wall Street Journal, which reports on AT&T’s reduction of the life insurance benefits and death benefits for retirees.

As you know, Nokia recently transferred surplus money from our pension fund to the life insurance trust in order to protect our benefit. Also, the NRLN has been following the progress of a pension bill that contains an amendment that would allow Nokia to use more plan surplus to prepay life insurance as long as the plan remained funded at 110% or higher. We expect that once all the budget federal issues are resolved, this bill may be advanced this year. I will advise you of any news that develops.

The Wall Street Journal article is the result of several month’s work by many members of the Telco Retirees Association working with and providing documentation to 2 reporters from the WSJ, Theo Francis and his colleague Drew Fitzgerald. I urge you all to post your feelings and comments in the conversation box included in the link. They need all the publicity and support they can get. Hopefully, this publicity will slow or stop the reduction of their promised retiree benefits. After all, as we well know, those benefits were part of their compensation packages and they depended on them at retirement. For most of us, we tailored our life insurance programs to our benefits package. 

Your comments on the article can be posted at the bottom of the article. Or, write to Theo Francis at theo.francis@wsj.com and Drew FitzGerald at andrew.fitzgerald@wsj.com

Dean Allison
CLICK HERE to read the full article

Speaking of health, I want to call your attention to the PRESIDENT’S FORUM on the NRLN homepage and the current ACTION ALERT.

It’s hard to believe that this is going on and not a word about it in the national press.

HOW YOU CAN HELP OUR CHAPTER

  • Be an active member. Respond to Action Alerts. Congress does listen to what constituents are saying. Your letters supporting NRLN lobbying efforts make a difference. Congress knows that those letters and emails are from retirees trying to protect retirees.
  • Reach out to other retirees that you know through clubs, your emails or Facebook. We need them to join us to gain strength. Ask them to sign up for emails here.
  • Volunteer your time. We need folks who are a little younger than mid-eighties to help in small ways. It’s time for the next generation — you know, you 60- to 70-year-olds, to step up! Bob Martina needs Grassroots volunteers.  If you have HR experience, you could be very helpful in the benefits area. If you think you would like to help, even a few hours a week, email me at lucentchapter@nrln.org.
  • Support us financially. Your contribution of $25 or more is important to finance the work of the new chapter. Click here to make your contribution by credit card or send a check to NRLN Inc., and mail to PO Box 69051, Baltimore, MD 21264-9051.

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