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 »
Pension De-Risking Wins in Connecticut & Virginia
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 »
New York State Legislature Unanimously Passes 9/11 Notice Act to Support Forgotten Victims
New York, NY – June 22, 2023 – The New York State Assembly and Senate have demonstrated unwavering support for the forgotten victims of 9/11 by unanimously passing the 9/11 Notice Act (A75B/S2946B). The bill passed unanimously in the State Assembly (146-0) and the State Senate (62-0). Next, the measure will move to Governor Kathy Hochul’s desk… Read More »
A Win for Retirees & Shareowners
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 »
Passing of Two Retiree Champions
In recent months, our BellTel community has sadly lost two retiree leaders who played an integral role in making your Association a powerhouse. Richard Knapp, former BellTel board member from 2003 and 2009 and devoted family man, sadly passed away at age 89. Knapp served as the Association’s strategic planning chair and as corporate secretary.… Read More »
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