What is your Pension worth in today's dollars?
If you retired from any Verizon company in 1994, your pension buying power is 47% less than it was when you retired. That means that today it would take $1,471 to buy what $1,000 would buy in 1994.
We are working hard to get pension increases for all retirees.
|
VERIZON PENSION PLAN STATUS
(CONSOLIDATED NYNEX & BELL ATLANTIC)
in millions of dollars
| Year |
Beginning
Balance
|
Earnings
|
Benefits
Paid
|
Ending
Balance
|
Fund
Net Change
|
Excess Funds
|
| 1996 |
$28,988 |
$4,298 |
$1,955 |
$31,066 |
$2,078 |
N/A |
| 1997 |
31,066 |
6,194 |
2,042 |
35,253 |
4,187 |
8,521 |
| 1998 |
35,253 |
4,019 |
2,371 |
36,967 |
1,717 |
8,886 |
| 1999 |
36,967 |
6,214 |
2,713 |
40,502 |
3,535 |
15,064 |
VERIZON PENSION PLAN STATUS
(CONSOLIDATED GTE& BELL ATLANTIC)
After Merger
in Millions of Dollars
Negative numbers shown in ( )
|
Year
|
Beginning
Balance
|
Earnings
|
Benefits
Paid
|
Ending
Balance
|
Fund
Net Change
|
Excess
Funds
|
|
1999
|
54,915
|
9,129
|
4,903
|
59,141
|
4,226
|
26,145
|
|
2000
|
59,141 |
1,294 |
5,210 |
55,225 |
(3,972) |
22,089 |
| 2001 |
55,225 |
(3,063) |
3,851 |
48,558 |
(6,667) |
12,167 |
| 2002 |
48,558 |
(4,678) |
5,892 |
38,676 |
(9,882) |
768 |
| 2003 |
38,676 |
8,671 |
3,925 |
42,841 |
4,165 |
1,798 |
| 2004 |
42,841 |
4,874 |
8,989 |
39,106 |
(3,735) |
1,711 |
| 2005 |
39,106 |
4,246 |
2,977 |
40,990 |
1,884 |
3,429 |
| 2006 |
40,990 |
5,536 |
2,762 |
41,509 |
519 |
7,350 |
| 2007 |
41,509 |
4,591 |
4,204 |
42,659 |
1,150 |
10,164 |
|
2008
|
42,659
|
(10,280)
|
2,577
|
27,791
|
(14,868)
|
(2,603)
|
|
2009
|
27,791
|
4,793
|
2,565
|
28,592
|
801
|
(3,226)
|
Source: Verizon Annual Reports
You can do something about this: Become a member of our Association.
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