Voting no on the contract, retiree medical is costing 2 years off your pension this time around
family medical for new retirees is equivalent to loosing 2 or more years of service on your pension "by the end of this contract" who knows what it will cost going forward...by the way that is at a top pension band, if you aren’t at a top pension band in a major metropolitan area it may be 4 or 5 years off your fixed income pension, I don’t mind paying while I am working and pay raises are still be negotiated but I only remember the pension formula going up once in the last 10 years.... there is no pension increase in this contract... Who knows if it will ever be increased, it isn't automatic... think about it.
The company is grabbing back retiree medical care costs, do you think they are interested in increasing retiree pensions?
This was a trick by Verizon to cut pensions without anyone noticing. I noticed.
Yeah -- you're getting the shaft. Think of the Chicago teachers at about $103k per year salary & benefits for about 3/4 work time year around. The kids do so poorly that there is plenty of summer school money to educate them -- as well as keeping them off the street for breakfast & lunch. The teachers don't seem to get evaluated too severely #$%$ of students drop out and about 5% go on to college, many on scholarship. As to the Chicago Teachers Pension Funds, the City of Chicago hasn't made a contribution in years and it's running a big deficit just like the State of Illinois, and the teachers don't pay enough to cover benefit payouts. The $10 bil fund is shrinking by $500 mil a year. I wonder how this will play out?