Across multiple U.S. industries, companies are facing massive increases in their pension costs. Delta Airlines reported noncash pension expenses increased $550 million. 3M Co. disclosed a $125 million increase year-over-year. Sysco Foods estimated a $26 million increase due to higher pension costs and interest rates. In this unsettling time for financial markets, high inflation, no… Read More »

Over the years, the BellTel Retirees—along with partners Retirees for Justice and the former ProtectSeniors.org—have achieved numerous legislative and regulatory successes. Perhaps some of the most significant of these occurred in Virginia and Connecticut. In July 2015, then-CT Governor Dannel Malloy signed a vital pension de-risking protection act into law – Public Act 15-167. Retirees… Read More »

Association Chairman Tommy Steed, with our Chief Financial Officer Frank Bruzek, made what turned out to be a victorious trip to Salt Lake City for this year’s Verizon Annual Meeting as company leadership proactively adopted a bylaw change inspired by your Association’s proxy proposal to limit Golden Parachutes (Item #8). Our 2023 “Golden Parachute” proposal… Read More »