SRA Retiree Updates: Blog

TRAUMA CENTERS AND THE ELDERLY

Tue, 19 Aug 2008 17:46:49 GMT

Yesterday the Washington Post ran an article about the care seniors received by EMT staff and to what hospitals the patient is first taken for care. Suprisingly the findings from a Maryland servey show the elderly do not receive the high level of care as that of younger patients. Nor are the elderly taken to trauma centers as often.

Read the article at http://www.washingtonpost.com/wp-dyn/content/article/2008/08/18/AR2008081801577.html

NRLN UPDATE

Sat, 16 Aug 2008 13:36:57 GMT

Financial Firms Trying To Buy Out Frozen Pension Plans

An August 5, 2008 article in Business Week has drawn attention to the fact that financial firms have been attempting to lay the groundwork to gain government approval to buy out "frozen" pension plans. According to the article some of the world's biggest investment banks, insurers, hedge funds, and private equity shops have been working in Washington, D.C. to gain control of $500 billion worth of "frozen" pension plan assets.

The concept of off-loading pension funds sounds attractive to some companies that would like the chance to rid themselves of struggling pension plans, which can be a burden to a balance sheet. New accounting rules are approaching that will require companies to mark their pension assets to prevailing market prices each quarter-a change that could devastate some companies' profits. As many NRLN members know, a number of companies no longer want to pay for pension plans, troubled or not.

The National Retiree Legislative Network first became aware of this activity by financial firms last October and Jim Norby, then the NRLN President, sent letters to Congressional Committee Leaders opposing the idea. Norby stated: "We cannot help but be suspicious that this is a profit-driven motive and is not in the best interest of retirees."

The NRLN's position was then and is now that the proposed buyouts of corporate pension plans are a dangerous idea that would lead to diminished pension benefits. Among our main concerns is that shareowners of financial companies would expect executives to maximize profits and the firms would have no loyalty to retirees and the employees who will be future retirees.

Last week, the U.S. Treasury Department ruled that employers cannot transfer most pension plans to an unrelated entity without also transferring significant business assets, operations or employees. The ruling apparently is directed toward preventing transfers of tax-qualified pension plans to unrelated firms that only operate the plans, such as financial firms.

Treasury noted that federal law requires qualified pension plans be established by employers for the "exclusive benefit of its employees or their beneficiaries." It stated that transferring a pension plan to a third party in a move that is not part of an acquisition of business assets or operations would benefit a firm whose sole business aim is to profit from the operation of the plan. Such a transfer would not qualify for tax benefits because an unrelated pension operator would not be considered an employer. In addition, the benefits would not be exclusive to employees and beneficiaries.

On its face, the Treasury ruling seems to throw cold water on the financial firms' efforts to buy out "frozen" pension plans. However, Treasury, the Labor Department, the Commerce Department and the Pension Benefit Guaranty Corp have developed guidelines for new legislation that would permit transfers where the transaction is in the "best interest of plan participants, their beneficiaries, employers and the pension insurance system."

Under this so called "legislative framework", a "frozen" pension plan where benefits are no longer accruing could be transferred to an entity unrelated to the employer or former employer, provided certain conditions were met. It would require that advance notice be given to all parties including regulators. Plan acquirers would be required to be in strong financial shape and in well-regulated industries. It would have to be demonstrated that the transfer is in the best interest of participants and their benefits would be exposed to less risk. Supposedly, transfer limitations would be imposed to prevent an undue concentration of risks.

The NRLN will keep a watchful eye on whether such legislation is introduced. If it has the potential to be a threat to retirees' pension security, our Grassroots Network members will be called on to help the NRLN mount a campaign against the proposed legislation.

Bill Kadereit, NRLN President

AT&T CONNECTICUT UPDATE

Thu, 14 Aug 2008 13:13:30 GMT

AT&T and North Haven Senior Center Host 'Cell Phones for Seniors' and 'Surfing for Seniors' Events August 14th

NEW HAVEN, Conn., Aug. 13 /PRNewswire-FirstCall/ -- AT&T Inc. (NYSE: T) announced today the launch of a new public service initiative designed to benefit Connecticut’s mature adult population. AT&T Connecticut will host a series of free events, titled "Cell Phones for Seniors" and "Surfing for Seniors" at senior centers throughout Connecticut over the next several months. The first of these is scheduled on August 14, from 10:00 a.m. to 2:30 p.m. at the North Haven Senior Center, 189 Pool Road, North Haven, Conn.

"AT&T’s free seminar is a unique opportunity for seniors to receive help with two areas of technology that are engrained in our daily lives -- mobile phones and the Internet," said Judy Amarone, manager, North Haven Senior Center. "With AT&T’s assistance, we expect our members to be able to walk away feeling more comfortable and confident that they will have a positive, safe experience using their cell phones and surfing the Internet."

This event is open to the public and mature adults interested in attending are encouraged to call the North Haven Senior Center at 203-239-5432.

In "Cell Phones for Seniors", which starts at 10 a.m., AT&T volunteers will work in a classroom setting to teach seniors about mobile phone basics, such as controlling the phone volume, checking voice mail, and storing a number in the phone’s address book. Seniors can also learn about AT&T’s Hearing Aid Compatible (HAC) options as well as how to send text messages and share pictures on their phones. Participants are encouraged to bring their mobile phones, regardless of which wireless carrier they currently use. AT&T will also have free "practice" phones on-site.

In "Surfing for Seniors", starting at 1 p.m. mature adults will receive training from AT&T representatives in a classroom setting where they’ll learn how to safely navigate the information superhighway, including understanding the risks and needed precautions to surf safely and securely. Topics will include how avoid spam, scams, fraud and phishing schemes, as well as privacy best practices and how to use spyware.

"Technology is no longer a vehicle used only by businesses and gadgeteers, but rather a commonality in all of our lives today," said State Representative Steve Fontana (D - North Haven). "I commend AT&T in their efforts to inform and educate the mature consumers of Connecticut on how to use this technology in a convenient and safe manner."

"These events are a great example of AT&T’s philosophy to connect people with their world, where they live and work," said Ramona Carlow, president, AT&T Connecticut. "Our goal with these events is to make even better and lasting connections using mobile phones and the Internet -- both safely and securely."

    Below are more dates and locations are open to the mature adult public:

    Mansfield:
    August 18, 2008, 12:30 - 4 p.m.
    Mansfield Senior Center
    303 Maple Road, Mansfield, Conn

    Hartford:
    August 20, 2008, 10:30 a.m. - 2:30 p.m.
    Southend Wellness Senior Center
    830 Maple Avenue, Hartford, Conn

    Norwalk:
    August, 26, 2008, 10:30 - 11:30 a.m.
    Norwalk Senior Center
    584 Main Avenue, Norwalk, Conn

    Meriden:
    August 27, 2008, 11 a.m. - 12:30 p.m.
    Meriden Senior Center
    22 W. Main Street, Meriden, Conn

AT&T has plans to expand the "Cell Phones for Seniors" and "Surfing for Seniors" programs to other areas of Connecticut in the coming weeks and months. For additional information on the Connecticut event series - or to inquire about scheduling a free seminar in your community - please contact Sarah Beth Luce Del Prete at 203-771-0212.

See http://money.cnn.com/news/newsfeeds/articles/prnewswire/200808130908PR_NEWS_USPR_____AQW065.htm

Beer

Tue, 12 Aug 2008 20:11:54 GMT

A-B offers sweetened early retirement package to cut employment costs

St. Louis Business Journal - by Kelsey Volkmann

Anheuser-Busch Cos. Inc. said it is boosting its early retirement plan for salaried workers to cut costs, according to a filing Tuesday with the Securities and Exchange Commission.

As part of its previously announced plan to reduce costs and improve efficiency, the brewer of Budweiser approved an "enhanced" retirement program for salaried employees. The plan provides better pension and retiree medical benefits, as well as severance, to salaried employees who are at least 55 years old by the end of the year.

Of the 8,600 employees eligible for the program, including 1,300 who are 55 and older, the company expects 10 percent to 15 percent will accept the plan.

See article at http://www.bizjournals.com/stlouis/stories/2008/08/11/daily33.html

SRA 2008 Picnic Information 2ed. Posting

Sun, 10 Aug 2008 01:39:34 GMT

Click on picture to enlarge.

IMPORTANT SRA NEWS UPDATE

Sat, 02 Aug 2008 00:15:50 GMT

To All SRA Members,

As some of you are aware there have been several lawsuits pending regarding the caculations of pension when conversions took place. Non management retirees from certain compaies now known as AT&T maybe be involved in the settlement of the class action announced today. Please see the below news item for more information on this case.

JoAnn Alix-Gagain

SRA President

Agreement Reached in AT&T Pension Calculation Lawsuit

Plaintiffs Law Firm's Press Release - BusinessWire - July 29, 2008

Attorneys for a class of participants in the AT&T Pension Plan today announced an agreement to settle a class action lawsuit filed in 2003 under which the AT&T Pension Plan will pay a total of $16 million to settle a claim that it miscalculated the pension benefits owed to some non-bargained (management) retirees of certain AT&T companies who retired under a 2000 early retirement window known as the Enhanced Pension and Retirement Program ("EPR").

The federal court lawsuit in Washington, D.C., Wagener, et al. v. SBC Pension Benefit Plan-NonBargained Program, Civ. Action No. 03-00769 (D.D.C.) (RCL), alleged that the Plan (since renamed the AT&T Pension Plan), incorrectly omitted pay earned for work performed during an averaging period used as one component in the calculation of retirees' pensions for retirees entitled to one of several pension options. The Plan denied liability and contended that the omission of the pay in question was authorized and consistent with the terms of the Plan. In 2004, the district court agreed that the Plan's interpretation was reasonable and dismissed Plaintiffs' claims. Plaintiffs appealed and in 2005 the District of Columbia Circuit Court of Appeals reversed the dismissal of the case and reinstated Plaintiffs' claims. See Wagener v. SBC Pension Benefit Plan--Non-Bargained Program, 407 F.3d 395 (D.C. Cir. 2005). Following remand, the district court certified the case as a class action and for over two years, the Parties engaged in substantial discovery, filed and briefed various motions and filed amended pleadings. Near the completion of the discovery process, the Parties reached agreement on the terms of a settlement.

After the deduction of notice costs, and attorneys' fees and compensation for the named plaintiffs in amounts to be determined by the Court, the net settlement benefit will be distributed to the approximately 3,800 plan participant class members and their beneficiaries on a pro rata basis (using the Plan's fall 2001 estimates of participants' benefits compared to the overall amount paid to those participants as a group). The net average additional payment, calculated as a lump sum, that each plan participant class member and his or her beneficiaries is expected to receive is approximately $2,900.00. The vast majority of participants and their beneficiaries will be able to elect to receive a tax-qualified additional lump sum payment. A small number of participants and their beneficiaries, those who originally received tax-qualified annuities, will have the option of taking an increased monthly annuity or a one-time qualified lump sum payment. About 10% of plan participant class members or their beneficiaries will receive a non-tax qualified lump sum.

To become effective, the agreement must be both preliminarily and finally approved by Chief Judge Royce C. Lamberth of the United States District Court for the District of Columbia. As part of the agreement, a second case, pending in the Western District of Texas, Calder, et al. v. AT&T, Inc., et al, 07-cv-00340-XR (W.D. Tex.), brought on behalf of the class raising other claims seeking the same relief, will also be dismissed with prejudice.

Eli Gottesdiener, one of the attorneys for plaintiffs and the class, hailed the settlement as an "excellent result given the very real risk the class could have ended up with no additional benefits had we litigated the case to judgment. Frankly, these are difficult cases to win."

Class members can obtain more information about the settlement from Class Counsel or at the following website: www.EPRClassAction.com.

NRLN Update

Wed, 30 Jul 2008 12:34:15 GMT

Seeking Cases Where 401(k) Is Inadequate For Retirement

An organization that the National Retiree Legislative Network cooperates with is preparing to release a report that demonstrates that defined benefit pension plans are a much more economical approach to providing retirement benefits than individual 401(k) accounts. The NRLN's assistance has been requested to possibly identify retirees who are struggling to live on less than adequate savings in their 401(k) or individuals who are unable to retiree because they have an underfunded 401(k) and no pension plan from their employer.

If this is your situation with your 401(k), or someone you know, please let the NRLN know whether you would be willing to talk with a reporter about the difficulty of surviving financially with an inadequate 401(k) and possibly Social Security. Click "Reply" to this message (nrlnmessage@msn.com) and provide your name, phone number, email address and a brief description about your 401(k) situation.

Ed Beltram
NRLN Vice President - Communications

Public Pension Funds

Fri, 25 Jul 2008 17:41:37 GMT

Pension Plans Stay Bullish on Hedge Funds

It is a brutal time for many hedge funds: A few have shut down in the last year or so, and lots of others have gotten skimpy returns, prompting apologetic letters to investors — who generally expect big profits for the hefty fees they pay.

So it may be surprising to hear that money managers at public pension funds are sounding quite bullish about the idea of investing in hedge funds. In a recent survey by Hedge Fund Manager Week, about half of the respondents said they already put some of their funds into hedge funds. Of those, about 41 percent said they will slightly increase the amount of money they set aside for hedge funds in the next three years. None said they would decrease the amount.

Among fund managers that don’t currently put money in hedge funds, nearly three-quarters said they were considering doing so.

The survey results come just as Reuters is reporting that Jeffrey Larson, whose $3 billion hedge fund, Sowood Capital, collapsed last year, is canvassing investors for his next fund.

The Massachusetts state pension system lost $30 million in Sowood’s demise; it took even bigger losses in the implosion of Amaranth Advisors in 2006.

Hedge Fund Manager Week said it surveyed a “wide number” of pension plans and retirement systems, whose assets under management ranged from $50 million to more than $250 billion.

See full article at http://dealbook.blogs.nytimes.com/2008/07/25/pension-systems-stay-bullish-on-hedge-funds/

NRLN Update

Thu, 24 Jul 2008 02:31:05 GMT

Tell Congress GM Retirees Are Latest Victims Of EEOC Rule

You have probably read or heard the news reports that on July 15th, General Motors announced a number of cost cutting measures that included the elimination of its health care plan for retirees age 65 and older who are eligible for Medicare. On January 1, 2009, GM will cancel medical, dental, vision, hearing aid, prescription drug, extended care coverage and a $76 per month Medicare B premium payment, for tens of thousands of retirees age 65 and older, surviving spouses and dependents.

In lieu of the healthcare benefits, GM will provide a monthly pre-tax pension increase of $300. This amount will only be a drop in the bucket for what it will cost retirees living on fixed incomes to purchase replacement insurance for the coverage lost.

GM's announcement is the latest horrific example of the harm that a rule published by the Equal Employment Opportunity Commission (EEOC) is causing. The EEOC Rule allows employers to reduce or eliminate health care benefits to retirees when they become Medicare-eligible at age 65. The EEOC's purported reasoning for creating the Rule was that by allowing employers to discriminate and treat older retirees less favorably, employers might have an incentive to continue to offer healthcare benefits for younger retirees and active employees. However, nowhere in the EEOC Rule or elsewhere is it written that those under age 65 have any assurances their benefits will not be reduced. The law does not protect them.

The thousands of GM salaried retirees who will lose their health care benefits are one of the largest retiree groups to be targeted. With the attention that GM's announcement has received in the press, many other employers are most likely examining GM's decision and giving consideration to taking similar action. Therefore, it is in the interest of all retirees and future retirees to write to their U.S. Senators and Representatives to request that legislation be passed to overturn the EEOC Rule and provide safeguards for retirement health care benefits.

We have called for this in letters faxed last week to the Democrat and Republican leaders of the U.S. Senate and House of Representatives and the Chairs and Ranking Members of the Congressional committees that deal with retirement legislative issues. (Read my letter in the NRLN Website Latest News at www.nrln.org.) In these letters, we proposed the passage of the "Health Care Protection Act of 2008." Under the act, should an employer reduce or eliminate health care benefits, retirees would receive a Maintenance of Cost Payment (MCP) equivalent to the cost of their defined health care benefits as of the date of retirement. With the MCP, corporations would know their costs for retiree health care would not grow. Retirees would be more secure in knowing they could replace benefits with the MCP fixed-payment dollars.

I am asking you as an NRLN Grassroots Advocate to use the NRLN's sample letter to write to your U.S. Senators and Representative. Please go to http://capwiz.com/abtr/home/ and look for the Action Alert headline: GM RETIREES LATEST VICTIMS OF EEOC RULE. Click on "Take Action." On the next screen, type in your zip code to identify the Senators and Representative to receive your letter. I encourage you to add your own personal comments to the sample letter. If you have a problem accessing the Action Alert with the above link, go to www.nrln.org and click on the "Take Action Now" headline at the top of the NRLN Website's Home Page.

Send your letter today. It would also help to call the Washington, D.C. or state office of your Senators and Representative. Phone numbers for the offices can be found through the NRLN's Capwiz website at http://capwiz.com/abtr/dbq/officials/.

The more constituents who write and call their Senators and Representatives, the better chance we have gaining their attention on retirement issues. Please share this email with your family and friends and encourage them to write and call their members of Congress. Also, encourage them to sign up in the Grassroots Network at http://capwiz.com/abtr/mlm/signup/ and become an NRLN Individual Member by making a personal annual contribution. Details are available at www.nrln.org.

Bill Kadereit, President
National Retiree Legislative Network

SRA 2008 Picnic Information

Tue, 22 Jul 2008 17:57:44 GMT

Click on picture to enlarge.

Just a Cute Story

Sat, 19 Jul 2008 22:14:33 GMT

While working for an organization that delivers
lunches to elderly shut-ins, I used to take my 4-year-old daughter on my
afternoon rounds. She was unfailingly intrigued by the various
appliances of old age, particularly the canes, walkers and wheelchairs.
One day I found her staring at a pair of false teeth soaking in a glass.
As I braced myself for the inevitable barrage of questions, she merely
turned and whispered, 'The tooth fairy will never believe this!'

Author Unknown!

NRLN Update

Thu, 17 Jul 2008 00:38:29 GMT

Congress Overrides President's Veto Of Medicare Fees To Physicians

The U.S. House and Senate voted Tuesday, July 15, to override President Bush's veto of legislation that reverses a 10.6 percent cut in Medicare payments to physicians. The House voted 383-41 and the Senate voted 70-26 to enact legislation over the White House's objections.

Our Representatives and Senators recognized that it is important that payments to physicians must be sufficient to provide current and future Medicare participants access to medical services and that retention of benefits is equally important. We project that there will be ongoing debate regarding how to pay for the maintenance of Medicare services and other benefit and that a full debate over the future of Medicare and National Healthcare will play out over the next 1-3 year period. Your NRLN representatives in Washington and the NRLN Legislative Affairs Committee will be focusing in on the protection and enhancement of these services and benefits for retirees and will ask us all to help lobby with our Capwiz Action Alert messages. Stay tuned.

The NRLN appreciates the interest that our Grassroots Advocates have had in following this legislation as reflected in the number of emails received from those who supported and those who opposed the legislation. It is a good when our members take an interest in what is going on in Washington, D.C. related to retirement issues.

Bill Kadereit, President
National Retiree Legislative Network

Advice

Fri, 11 Jul 2008 17:32:19 GMT

Discarding Electronics May Be Hazardous To Your ID

If you carelessly dispose of your personal digital assistant (PDA), cell phone, or computer, you could be handing over personal information to the new "owners" of your discarded or recycled equipment, according to one of the guests on Sunday's H&FF Radio show.

Home & Family Finance airs Sundays at 3 p.m. EDT on the Radio America Network. The one-hour program devoted to consumer finance issues is brought to you by America's credit unions and their 90 million members, and is presented by CO-OP Network.

The Credit Union National Association (CUNA) and Radio America are podcasting Home & Family Finance through iTunes, Podcast Alley, Odeo, and other popular podcast library sites, as well as on Radio America and CUNA's websites.

Sunday's show, which you also can hear later via the Internet, features Paul Berry, Washington, D.C., journalist and broadcaster, discussing these topics with special guests:

"Gadgets That Help You Use and Conserve Water Wisely," with Stacy Bass, utilities department public relations officer, and manager of education and outreach programs, Mesa, Ariz.;
"Saving for College," with Jason Alderman, director, issues management, Visa USA, San Francisco, Calif.;
"The Secrets of Money: A Guide for Everyone on Practical Financial Literacy," with Braun Mincher, entrepreneur and author, Fort Collins, Colo.;
"Identity Theft and Safely Discarding Your Personal Electronic Equipment," with Jim Stickley, founder, chief technical officer, and vice president of engineering, TraceSecurity, San Diego, Calif.; and
Host Paul Berry Answers Your Questions: Simple ways to save gas, ladder certificates of deposit, and select a credit counselor.

CUNA News Now

NRLN Update

Fri, 11 Jul 2008 00:31:59 GMT

President Bush To Veto Legislation For Medicare Payments To Physicians

This is a follow-up to my Tuesday, July 8th email. I want to let you know that the White House has confirmed that President Bush will stand by his threat to veto Medicare legislation passed by the Senate on Wednesday, July 9th. The Senate passed legislation that would halt a 10.6 percent cut in Medicare payments to physicians. The vote was 69-30. The U.S. House of Representatives had passed the legislation on June 24 by a vote of 355-59.

The President's veto will set up override votes in the House and Senate, where the legislation passed with more than the two-thirds majority needed to overcome the President's rejection. It remains to be seen whether Republicans who voted for the legislation will vote to override the President's veto. News reports have stated that the primary objection of the White House and the Congressional Republicans who voted against the bills is the cuts to private Medicare Advantage health plans to offset the additional costs for medical services provided in the legislation.

Democrats argued for reducing payments to private insurers because the Medicare Advantage plans are paid on average 13 percent more than it costs to provide health benefits directly from Medicare. More than 20 percent of Medicare's 44 million beneficiaries are enrolled in Medicare Advantage plans.

I have pasted below a listing by state on how the Senators voted on the bill in case you wish to check on how your Senators voted.

Bill Kadereit, President
National Retiree Legislative Network

------------------------------------------------------------------------------------------------------
The Senate passed legislation that would halt a 10.6 percent cut in Medicare payments to physicians.
Note: On this vote, a "yes" vote was a vote in favor of the bill and a "no" vote was a vote against it.
Voting "yes" were 49 Democrats, 18 Republicans and two independents. Voting "no" were 0 Democrats and 30 Republicans.
By state:
Alabama, Sessions (R) No; Shelby (R) No.
Alaska, Murkowski (R) Yes; Stevens (R) Yes.
Arizona, Kyl (R) No; McCain (R) Not Voting.
Arkansas, Lincoln (D) Yes; Pryor (D) Yes.
California, Boxer (D) Yes; Feinstein (D) Yes.
Colorado, Allard (R) No; Salazar (D) Yes.
Connecticut,Dodd (D) Yes; Lieberman (I) Yes.
Delaware, Biden (D) Yes; Carper (D) Yes.
Florida, Martinez (R) Yes; Nelson (D) Yes.
Georgia, Chambliss (R) Yes; Isakson (R) Yes.
Hawaii,Akaka (D) Yes; Inouye (D) Yes.
Idaho, Craig (R) No; Crapo (R) No.
Illinois, Durbin (D) Yes; Obama (D) Yes.
Indiana,Bayh (D) Yes; Lugar (R) No.
Iowa, Grassley (R) No; Harkin (D) Yes.
Kansas,Brownback (R) No; Roberts (R) Yes.
Kentucky,Bunning (R) No; McConnell (R) No.
Louisiana, Landrieu (D) Yes; Vitter (R) No.
Maine, Collins (R) Yes; Snowe (R) Yes.
Maryland, Cardin (D) Yes; Mikulski (D) Yes.
Massachusetts, Kennedy (D) Yes; Kerry (D) Yes.
Michigan, Levin (D) Yes; Stabenow (D) Yes.
Minnesota, Coleman (R) Yes; Klobuchar (D) Yes.
Mississippi, Cochran (R) No; Wicker (R) No.
Missouri , Bond (R) No; McCaskill (D) Yes.
Montana, Baucus (D) Yes; Tester (D) Yes.
Nebraska, Hagel (R) No; Nelson (D) Yes.
Nevada, Ensign (R) No; Reid (D) Yes.
New Hampshire, Gregg (R) No; Sununu (R) No.
New Jersey, Lautenberg (D) Yes; Menendez (D) Yes.
New Mexico, Bingaman (D) Yes; Domenici (R) No.
New York, Clinton (D) Yes; Schumer (D) Yes.
North Carolina, Burr (R) No; Dole (R) Yes.
North Dakota, Conrad (D) Yes; Dorgan (D) Yes.
Ohio, Brown (D) Yes; Voinovich (R) Yes.
Oklahoma, Coburn (R) No; Inhofe (R) No.
Oregon, Smith (R) Yes; Wyden (D) Yes.
Pennsylvania, Casey (D) Yes; Specter (R) Yes.
Rhode Island, Reed (D) Yes; Whitehouse (D) Yes.
South Carolina, DeMint (R) No; Graham (R) No.
South Dakota, Johnson (D) Yes; Thune (R) No.
Tennessee, Alexander (R) Yes; Corker (R) Yes.
Texas, Cornyn (R) Yes; Hutchison (R) Yes.
Utah, Bennett (R) No; Hatch (R) No.
Vermont, Leahy (D) Yes; Sanders (I) Yes.
Virginia, Warner (R) Yes; Webb (D) Yes.
Washington, Cantwell (D) Yes; Murray (D) Yes.
West Virginia, Byrd (D) Yes; Rockefeller (D) Yes.
Wisconsin, Feingold (D) Yes; Kohl (D) Yes.
Wyoming, Barrasso (R) No; Enzi (R) No.

NRLN Update

Tue, 08 Jul 2008 20:46:17 GMT

Senate Faces Unfinished Business On Medicare Payments To Physicians

U.S. Senators return to Washington, D.C. this week following the Independence Day recess to face the unfinished business of Medicare payments to physicians. On June 24, the House of Representatives passed H.R. 6331, the Medicare Improvements for Patients and Providers Act of 2008, by a vote of 355-59. Following that vote, the Senate failed in a vote on June 26 to take up a measure that would halt a July 1 cut in Medicare fees to physicians.

On June 30, the Bush administration announced that it was freezing a scheduled 10.6 percent fee cut for doctors who treat Medicare patients and would not process Medicare claims until July 15 in order to give Congress time to consider a legislative fix. The cuts in Medicare payments to 600,000 doctors were scheduled for July 1 because of a formula that requires fee cuts when Medicare spending exceeds established goals.

In place of the cut, the bill passed by the House would hold payments at their current level for the rest of this year and establish a 1.1 percent pay hike in 2009. In addition, it would also spend more money to enhance preventive services, improve low-income assistance programs and make other modest changes.

The National Retiree Legislative Network urges the Senate to pass a bill that grants fee increases sufficient enough to attract enough physicians to serve retiree needs and we also support increased preventive care benefits. We join many others who support such legislation, including the American Medical Association, the health care insurance industry, a number of labor unions and the AARP.

Your NRLN Health Care Advisory Committee (HCAC) and the NRLN Legislative Affairs Committee are watching progress of proposed bills and, if one passes, whether or not the President exercises veto power. If necessary, we will ask for your support by sending you a Capwiz message asking that you write members of Congress and / or the President.

I hope this clarifies where the NRLN stands on this important pending legislation.

Bill Kadereit, President
National Retiree Legislative Network

weekly Thought

Sun, 06 Jul 2008 21:07:13 GMT

Why is it that, at class reunions, you feel younger than everyone else looks?

Cell Phones for Soldiers

Thu, 03 Jul 2008 15:58:02 GMT

AT&T and Cell Phones for Soldiers Surpass First-Year Goal, Raising Over $2 Million to Support U.S. Troops with Free Phone Cards

Recycling Program That Sends Phone Cards to U.S. Troops Has Helped Recycle More Than a Million Wireless Phones, Surpassing Initial $1.4 Million Goal

AT&T's Recycling Support to Continue Via 2,000-Plus Company Stores and Volunteer Efforts

San Antonio, Texas, July 2, 2008

Recycle wireless phones and help connect U.S. military families with free phone cards. AT&T Inc. (NYSE:T) and military charity Cell Phones for Soldiers (CPFS) have been connecting those dots since July 2007 — by recycling cell phones in more than 2,000 AT&T stores across 1,100 U.S. cities. And, as Independence Day approaches, the company and the charity are celebrating that CPFS has now raised more than $2 million — including recycling proceeds and financial and in-kind donations — since the two joined forces.

To celebrate the one-year milestone, AT&T is now pledging another year of recycling support for the charity — in all company-owned stores.

CPFS collects and recycles wireless phones and uses the proceeds to buy free phone cards for U.S. military members and their families. The first-year results of the program have surpassed the 2007 goal of raising $1.4 million, enough to provide a free 20-minute phone card for all troops stationed in Iraq at that time.

Phones recycled through AT&T stores, community drives and online tools have added volume to the broader efforts of the CPFS recycling program, which has now collected more than a million total wireless phones since July 2007 — including 90,000 phones collected via AT&T channels in just the past three months.

NRLN Update

Sun, 29 Jun 2008 13:55:40 GMT

Read FOCUS Newsletter On NRLN Website

The National Retiree Legislative Network's FOCUS Newsletter summer issue is available to read at: http://www.nrln.org/Newsletters/NRLN-FOCUS-SUMMER-2008.pdf . If you have a problem accessing the newsletter via this link, please go to the NRLN's website at www.nrln.org and click on the headline about the newsletter in "Latest News" on the NRLN home page.

NRLN President Bill Kadereit explains in his column that the NRLN Board of Directors has reorganized with the objective of providing greater support to members and growing the organization. NRLN Executive Director Marta Bascom covers in her column the work the NRLN is doing to find champions in Congress to overturn an onerous ruling by the Equal Employment Opportunity Commission (EEOC). The EEOC rule allows employers to drop retirees from their health care benefits plan once those retirees reach Medicare eligibility.

The Retiree Association profiled this issue is the National Association of Prudential Retirees Inc. (NAPRI). Be sure to read the articles by Bob Foresta, NRLN Vice President - Legislative Affairs, and by Bob Martina, NRLN Vice President - Grassroots Networks. Among the other articles are profiles on two NRLN Board Members who are leaders in the Association of US WEST Retirees. They are Kathleen "Kitty" Kennedy, of Tucson, Arizona, President of Telephone Retirees Association of Arizona, Inc. (TRA-AZ) and Mary Ann Neuman, of New Hope, Minnesota, Chairwoman of the 5-state Northwestern Bell group of retirees

at&t News Update

Sat, 28 Jun 2008 21:01:22 GMT

AT&T Corporate Headquarters to Move to Dallas

San Antonio, Texas, June 27, 2008

AT&T Inc. (NYSE:T), the world's largest telecom company, announced today that it will move its corporate headquarters from San Antonio to Dallas to gain better access to its customers and operations throughout the world, and to the key technology partners, suppliers, innovation and human resources needed as it continues to grow, domestically and internationally.

The move will begin in the coming weeks and is expected to be complete around yearend. It is expected to involve about 700 of the company's nearly 6,000 San Antonio-based employees.

"We're a growing global company with customers and operations around the world," said Randall Stephenson, AT&T chairman and CEO. "Being headquartered in Dallas will benefit our long-term growth prospects and human resources needs, and our ability to operate more efficiently, better serve customers and expand the business in the future.

"San Antonio is a great city with much to offer and it's been good for AT&T as we've grown from primarily a five-state local phone company to the world's largest telecom company," Stephenson said. "San Antonio will continue to be a major operations and employment center for us."

Following the move, AT&T will have about 1,700 more employees in San Antonio than before it relocated its corporate headquarters to the city from St. Louis in 1992. The company's Telecom Operations group, which serves residential and regional business customers in 22 U.S. states, will remain in San Antonio.

NRLN UPDATE

Fri, 27 Jun 2008 15:23:39 GMT

Senate Finance Committee Staff Withdraws Proposal

An extraordinary team effort has caused the Senate Finance Committee staff to withdraw consideration of a proposal to modify Section 420 of the IRS Code to allow the transfer of billions of dollars from traditional defined benefit pension plans to fund 401(h) healthcare accounts to pay the healthcare benefits of active employees.

Because the National Retiree Legislative Network's Washington, D.C. staff members Phyllis Borzi, Marta Bascom and Michael Calabrese learned that the Senate Finance Committee was giving serious consideration to the proposal, we were able to insert ourselves early on into the dialogue to provide a voice for retirees. Early this month, Marta, Michael and I prepared a "white paper" opposing the proposal under consideration and offering alternatives. The "white paper" served as a basis for a conference call with two Senate Finance Committee staff members.

Due to our concerns following the call that the staff might propose legislation to the 21 members of the Senate Finance Committee, the NRLN formed a coalition with the AFL-CIO and the Pension Rights Center to oppose the proposal under consideration. Next, the NRLN's Grassroots Advocates who live in the states that have a member on the Senate Finance Committee responded to our request to send emails to their Senators. Those letters from constituents got the attention of several Senators and the Finance Committee staff members.

On Wednesday, June 25, one of the Finance Committee staff members with whom we had communicated earlier this month requested a conference call with the NRLN. On the Thursday conference call with Marta, Michael and me, the staff member informed us that due to the high level of opposition to the proposal it would be withdrawn.

The withdrawn proposal, motivated by the opportunity to gain additional corporate tax revenues, would have had devastating consequences on the future pension security of 44 million present and future retirees. Heading off this potential legislation shows once gain how important it is for retirees to have a strong voice on Capitol Hill.

This is why we must continue to grow the NRLN's Grassroots Network, gain affiliation with additional Retiree Associations, and attract more Individual Members who will make an annual contribution to fund our legislative efforts. Association solicitation on behalf of the NRLN and encouraging family members and friends to sign up in the Grassroots Network at http://capwiz.com/abtr/mlm/signup/ and become an NRLN Individual Member are critical to our continuing success. Details are available at www.nrln.org.

Thanks again to the NRLN's Washington staff members, the AFL-CIO, the Pension Rights Center and NRLN Grassroots Advocates for coming together to say with one strong voice that it would be a mistake for the Senate Finance Committee to support legislation allowing Section 420 transfers from defined benefit pension plans to be used to pay for healthcare benefits for active employees.

Together we can make a difference in the lives of retirees.

Bill Kadereit, President
National Retiree Legislative Network

Joke of the Week

Sun, 22 Jun 2008 20:47:22 GMT

Well Trained Car

I pulled into the crowded parking lot at the Super Wal-Mart Shopping Center and rolled down the car windows to make sure my Labrador Retriever Pup had fresh air.

She was stretched full-out on the back seat and I wanted to impress upon her that she must remain there.

I walked to the curb backward, pointing my finger at the car and saying emphatically, "Now you stay. Do you hear me?"

"Stay! Stay!"

The driver of a nearby car gave me a strange look and said,"Why don't you just put it in park?"

GM Retirees

Thu, 19 Jun 2008 17:04:24 GMT

17,398 hourly workers take GM buyout

Sharon Terlep / The Detroit News

General Motors Corp. will usher out 17,398 hourly workers through buyout offers and retirement incentives rolled out this spring, according to a final count of departing employees released today by the automaker.

GM last month said about 19,000 workers opted for one of the packages, which included 1,259 who had already retired and were eligible retroactively. Workers had a week to change their minds after taking an offer.

Most workers will be gone by July 1.

Nearly half those leaving -- about 8,500 -- are from Michigan factories. The Flint area alone is set to lose 1,800 workers.

GM extended the offers to all 74,000 United Auto Workers-represented employees in the U.S. as part of a plan to move out highly paid veterans and replace them with lower-wage new hires.

NRLN Update

Tue, 17 Jun 2008 15:41:38 GMT

Senate Struggling With Medicare Fees For Physicians If you regularly access the NRLN website to keep abreast of news articles on retirement issues, you are aware that Congress has been struggling with the dilemma of whether to pass legislation to prevent a 10% cut in Medicare fees to physicians. Without Congressional action, the cut in fees will begin on July 1, 2008. Last week Democratic Senators attempted to bring up the Baucus -Snowe bill that would prevent the payment reductions to physicians. The effort failed by a vote of 54-39 because it needed the backing from 60 Senators for the cloture motion. News articles reported that the vote came up short because of Republican support for a competing bill offered by Finance Committee ranking member Chuck Grassley (R-Iowa) and by key absences from the Democratic caucus. Physician groups say the cut would cripple their business and threaten Medicare beneficiaries' access to medical services. The legislation, sponsored by Finance Committee Chairman Max Baucus, proposed to provide $20 billion over five-years to prevent the cut in payments to physicians. While the legislation is stymied, the NRLN is examining whether it might have an opportunity to bring forth its proposal to include catastrophic coverage in Medicare. As more and more companies eliminate retirees' health care plans that included catastrophic coverage, there is an increasing need for Medicare to embrace coverage for catastrophic health conditions. The NRLN is also seeking to make Medicare available to retirees under 65 by supporting a Medicare buy-in plan such as that proposed by Representative Stark form California. The NRLN believes those under age 65 are in a "no man's land" where they are not old enough (age 65) to qualify for Medicare coverage despite the fact they may have earned more than enough credits to qualify for all Medicare services. The NRLN's proposal would allow those under age 65 to buy in on a cost-adjusted basis so as not to raise the overall cost of Medicare. If you need clarification or more information on this subject, please send an email to the NRLN Legislative Committee at nrlnmessage@msn.com. Please share this email with your fellow retirees and friends. Encourage them to sign up in the Grassroots Network at http://capwiz.com/abtr/mlm/signup/ and become an NRLN Individual Member by making a personal annual contribution. Details are available at www.nrln.org. Thank you for your support. Bill Kadereit, NRLN President

Could Your Next Car Be Electric?

Fri, 13 Jun 2008 23:49:15 GMT

The Electric Pyramid

An Illinois man has built a proto type electric car that will go 240 miles on one charge. It will go 45 mile per hour but the production model will reach 100 mile per hour and go much further before needed a recharge from a 110V outlet.

Production to start in 2009 with one hundred units first year and doubling each year. Price about ten thousand dollars at this time.

Would you buy one? You might be the first retiree in town that never needs to stop at a gas station.

Link to the Dreamcar web site http://www.dreamcar123.com/

Pension Blues!

Tue, 10 Jun 2008 14:51:25 GMT

Number of pensioners in poverty rises to 2.5 million

Kathryn Hopkins
guardian.co.uk,

The number of pensioners living below the poverty line in the UK has risen by 300,000, taking the figure to 2.5 million, official figures out today showed.

The Department for Work and Pensions, which released the statistics, said that this was the first time pensioner poverty had increased since 1998.

The Institute for Fiscal Studies had expected an increase of 100,000. "The actual increase is both statistically significant and unexpectedly large, especially as the pension credit guarantee is increased in line with average earnings," said an IFS spokesperson.

See http://www.guardian.co.uk/politics/2008/jun/10/welfare.economy1

AT&T plan violated federal pension laws

Mon, 09 Jun 2008 15:44:49 GMT

US High Court Rejects AT&T Appeal On $31.2 Million Benefits Judgment

WASHINGTON -(Dow Jones)- The U.S. Supreme Court Monday rejected an appeal by an AT&T Corp. (T) pension plan facing a $31.2 million judgment in a class-action lawsuit over lump-sum retirement benefits paid to some retirees.

The lawsuit, filed in October 2001, alleged the mortality tables the pension plan used to calculate retirement benefits wrongly reduced payments to some workers. Linda Call, the employee who filed the initial lawsuit, said her $219, 312 in benefits were cut by about $36,000 due to a 1999 amendment to the company's plan.

A U.S. District Court in 2004 said the AT&T plan violated federal pension laws and awarded a class of approximately 2,000 retirees the $31.2 million judgment, which included $6.4 million in interest. The 7th U.S. Circuit Court of Appeals in Chicago affirmed that ruling.

The U.S. Solicitor General's office, in a court brief, said the high court should turn away the appeal. The case is AT&T Pension Benefit Plan v. Call, 06- 1398.

-By Mark H. Anderson, Dow Jones Newswires; 202-862-9254; mark.anderson@ dowjones.com

See article at http://money.cnn.com/news/newsfeeds/articles/djf500/200806091041DOWJONESDJONLINE000322_FORTUNE5.htm

Got Any Old Photos?

Fri, 06 Jun 2008 17:18:25 GMT

We are looking for more Photos to add to our Photos on the right side of this web page. Pictures of your old days at SNET before it was SBC or today's at&t. If you want to have one or two possibly placed on our Photos please Scan them onto your computer and email to us for consideration.

Connecticut Credit Unions

Thu, 05 Jun 2008 01:38:32 GMT

Law Allows Connecticut Credit Unions to Open Offices in Emergencies

Connecticut Gov. Jodi Rell recently signed into law an act that would allow credit unions to open temporary offices in the state in an emergency, according to the Credit Union League of Connecticut (CULCT).

The act will be effective Oct. 1.

An emergency is defined as: conditions that arise from enemy action or threat of enemy action, from riot or threat of riot, or from extreme weather conditions, said Kelly Ramsey Fuhlbrigge, League Vice President, Government Relations.

"This is an important act because it will allow our state commissioner to act quickly in the event of a disaster, so that credit union members can have seamless access to their credit union services in emergency situations," said Tony Emerson, CULCT President/CEO.

Do You Agree or Does This Article Upset You?

Tue, 03 Jun 2008 16:40:16 GMT

Fat pensions spell doom for many cities

By Janice Revell, Money Magazine senior writer

Vallejo, Calif., took the extreme step of filing for bankruptcy to get out of generous obligations to public employees. Other cities and states are watching.

NEW YORK (Money Magazine) -- The jig is up. For years, politicians have been playing what amounts to a multi-trillion-dollar shell game with state and local pensions. They've doled out lush retiree benefits to their heavily unionized workforces, knowing that they could shove the cost for those benefits onto future generations of taxpayers.

But a recent financial bombshell dropped by a San Francisco suburb shows why that shell game is now starting to unravel in a nasty way. And it's a cautionary tale that you can't afford to ignore.

Here's the skinny: In late May, Vallejo, Calif., became the largest city in California history to declare bankruptcy. Its financial demise was brought about partly by the real estate crash, which decimated home prices in the area and put a major dent in the city's tax revenues.

But the real nail in Vallejo's coffin was the city's labor costs. Under the current labor agreement, the average police officer walking the beat in Vallejo will be paid $122,000 this year before overtime, according to city documents. An average sergeant will make $151,000; a captain, $231,000. The average firefighter, meanwhile, will bring in $130,000 before overtime.

That's just the salaries, though. The final budget-crusher was the city's pension plan. Thanks to retroactive benefit enhancements approved by the city council in 2000, police officers and firefighters can now retire at age 50 and receive an annual pension equal to 90% of their final pay (assuming 30 years on the job), an amount that gets increased every year to help keep pace with inflation. The old plan had given the workers a pension equal to 60% of their final pay at age 50.

So a Vallejo police sergeant making $150,000 a year can now retire at age 50 and receive an annual pension of $135,000, increased each year for inflation. To put that amount in context, you would need to amass a retirement nest egg equal to about $3.5 million to produce a similar retirement income on your own.

It wasn't just police and firefighters who benefited from the city's largess. The annual pensions for rank-and-file city employees were jacked up from 60% of final pay at age 55 (after a 30-year career) to a whopping 80% of pay, increased each year for inflation.

Other towns in trouble

Here's the scary part: What's going on Vallejo isn't unique.

Back at the turn of this century, when the stock market was still booming, public pension plans across the country were suddenly overflowing with surplus money. Politicians responded by handing out heavily sweetened pensions.

Then, even though the stock market collapsed, politicians couldn't stop the trend. In 2001 alone, pension benefits were increased in at least 17 state plans, as well as some major cities.

Read complete article at http://money.cnn.com/2008/06/02/pf/retirement/vallejo.moneymag/index.htm?postversion=2008060305

NRLN UPDATE

Sun, 01 Jun 2008 17:21:30 GMT

NRLN Submits Proposals to Democratic & Republican Platform Committees

The NRLN has submitted proposals to the Democratic and Republican Parties on retirement issues to be considered for inclusion in their National Platforms this 2008 Election Year.

The changing global economy, the NRLN noted in its proposals, has put added pressures on employers to become more competitive and they have been using the U.S. Courts, Federal Agencies and ambiguities in legislation to reduce or eliminate those earned retirement benefits they previously promised to employees and retirees.

Following the format of the 2004 Democratic and Republican National Platforms, the NRLN made a number of important recommendations, including:

· The use of "surplus" funds in pension plans must be for the original intended purpose of those plans to benefit retirees, not for corporate restructuring expenses.

· Older workers must be protected from unfair treatment when their Defined Benefit pension plans are converted to Cash Balance Plans.

· Assist American businesses to continue to provide health care programs by proper incentives and also to make available quality, affordable health care coverage for all Americans.

· Supports the five principles of health care reform as described by the National Coalition on Health Care (NCHC); 1) Health care coverage for all; 2) Improved cost management to eliminate waste; 3) Improvement of Health Care Quality and Safety; 4) Equitable Financing; and 5) Simplified Administration that established electronic record keeping networks and minimizes redundancies.

· Support a retiree health care Maintenance-of-Cost Payment (MCP) equal to the cost of an individual's earned health care benefits at the time of retirement or at a subsequent time, whichever is highest, when reduction or cancellation of coverage may occur.

· Provide tax credits to businesses that continue to provide health care benefits to retirees so they may maintain quality, reliable health care during their retirement years.

· Offer retirees under age 65 who do not have employer-provided health care coverage either tax credits or a Medicare buy-in program at the then current Medicare cost levels.

· In 1993, Congress, as part of a balanced budget initiative, implemented taxation on Social Security benefits aimed at upper income groups. The level of taxable benefits was not indexed to inflationary changes, resulting in injustices done to larger numbers of retirees than the intended legislation targeted. Support legislation that amends the tax codes to eliminate or reduce this unintended consequence and harm to lower income retirees.

In addition platform proposals, the NRLN has inquired of both Parties whether there would be an opportunity for an NRLN Washington, D.C. staff member to testify before any hearings held by the respective National Platform Committee.

To read the entire platform proposal to the Democratic Platform Committee on the NRLN website go to www.nrln.org/2008-Dem-platform.htm . To read the entire platform proposal to the Republican Platform Committee on the NRLN website got to www.nrln.org/2008-Rep-platform.htm . You may also want to look again at the 17 questions that have been asked of the presidential candidates and will be asked of all candidates for Senate and House seats. We posted the questions on April 12 and you can see them at http://www.nrln.org/BKLETTERS/NRLN%20Presidency%20Questions.htm .

Bob Foresta, NRLN Vice President - Legislative Affairs

Joke of the Week

Sat, 31 May 2008 19:05:15 GMT

The Wrong Anniversary Gift

Ed was in trouble. He forgot his wedding anniversary and his wife was really angry.

She told him, 'Tomorrow morning I expect to find a gift in the driveway that goes from 0 to 200 in less then 6 Seconds AND IT BETTER BE THERE!!'

The next morning Ed got up early and left for work. When his wife woke up she looked out the window and sure enough there was a box gift-wrapped in the middle of the driveway.

Confused, the wife put on her robe and ran out to the driveway, and brought the box back in the house. She opened it and found a brand new Bathroom Scale.

Ed has been missing since Friday. Please pray for him.