Retirement is intended to be a time of some dose of relaxation coupled with spending as much time as possible with the grandkids. For those of us keeping engaged in retirement advocacy, we know that we must never get complacent because our retirement is on the line. It is why Association of BellTel Retiree leaders are so active to work collectively to create a stronger future for all current and future retirees.
Proxy 2024:
This year, BellTel submitted two proxy proposals for a vote at the Verizon annual shareholder meeting. The two proposals are our brand-new Lead Cables Proxy, as well as the resubmission of the Executive Clawback Proxy.
In 2023, the Executive Clawback proposal received 37.9% of the vote. We seriously hope to win a majority this year, with the help of our fellow retirees and other shareholders.
On that front, Verizon has told the Securities and Exchange Commission (SEC) that it wishes to omit our second submission, the Lead Cables proposal, from the ballot. As of this writing, our BellTel proxy legal team is working to keep this important measure on the proxy ballot.
As I and other BellTel leaders have done in the past, a delegation of us intend to travel to the Annual meeting in person to make our presentation to the company’s top executives, the Board, and our fellow shareholders.
OSHA Safety:
In 2022, the Association began an added focus on issues relating to occupational health and safety (OSHA). In my own working years, I know I was exposed to toxins at the 1975 NY Telephone Fire (aka: Miracle on 2nd Avenue), which burned for over 19 hours before firefighters were able to extinguish the flames. Millions of pounds of PCBs within the switching station were melted and released as dioxins.
The problem with these various dangerous elements, be they toxic gas from PCBs or lead cables, we were exposed to during our working years, is that often they don’t make us ill until decades later. By then, you may not even connect the dots to your career exposures.
We must be proactive now, in our retirement, because who knows what hazardous materials we were exposed to in our careers.
We Hear You:
The Association of BellTel Retirees also kicked off 2024 with a survey to take the pulse of our members. We are proud to report that we received more than 1,000 responses to that survey in just a matter of days.
This survey has provided many insights into the desires and concerns of our members. This information will play an important part in Association’s strategic efforts moving forward.
Be Proactive:
Our entire community needs to work together to create a more secure retirement future. To illustrate why, we must only look toward the success of recent strikes by the United Auto Workers (UAW) who came together to confront the big three automakers, Ford, GM, and Stellantis.
The new contract achieved major wage increases, unfair “tiered wages” were scrapped, and a major Stellantis plant in Belvidere, Illinois will be reopened.
Unfortunately, the UAW was not able to claw back the pensions lost in the last negotiation cycle in 2007. Seventeen years ago, the UAW agreed that all workers hired after 2007 would no longer receive a defined pension, but instead the company would contribute to a 401(k).
The workers standing united, arm and arm, were able to achieve a historic victory.
We cannot strike but can strategically engage the companies as shareholders. We must likewise come together stronger than ever, to fight for retirees. Without the support of our volunteers and members, things might be much worse off for all of us.
I encourage you to stand up, and to support us. If not financially, then donate with the gift of your time. Volunteer and join the Association’s fight for a better, more secure, retirement future for all of us.
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