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January 4, 2008
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Chairman’s Annual Report -
As we close the 5th year of our TelCo Retirees Association, it seems appropriate to thank our members for their ongoing personal and financial support, their advice and counsel (and yes...on occasion, constructive criticism).
Throughout the past years, our association has attempted to mitigate numerous communication "road blocks" with SBC/AT&T in order to resolve retiree benefit issues of critical importance to our members. We have challenged AT&T through shareowner proxies requiring the election of corporate Directors by a majority of shareowner votes and the reduction of the largesse of annual bonuses for AT&T senior officers. (The TelCo Association was successful on both proxy issues and forced AT&T to modify its corporate bylaws to accommodate the proxy recommendations.)
The Securities & Exchange Commission recently voted to let companies deny shareholders access to annual proxy ballots, a move governance advocates say could make corporate America less responsive to shareowners! The American Federation of State, County and Municipal Employees have asked J.P. Morgan Chase & Company and Bear Stearns Cos. to allow all shareholders to vote on bylaw changes for electing Directors. The Federation has threatened to sue if its requests were rejected. (TelCo Retirees Association, Inc. plans to continue monitoring this development to protect our rights as an AT&T shareowner.)
SUMMARY PLAN DESCRIPTION
You will be pleased to know that beginning in February, 2007, AT&T issued a "new" Summary Plan Description - AT&T RULES FOR EMPLOYEE BENEFICIARY DESIGNATIONS. Page 10 of that document states, "Special Designations, Name of the Trustee, title and date of the trust document and name of the person executing the trust document." (This ensures your death benefit proceeds will be paid to your trust in accordance with the terms stated on your Beneficiary Designation Form.)
If you have not received a copy of the February 2007 Summary Plan Description, you may receive a copy by contacting the Beneficiary Designation Administrator at 1-800-416-2363. (Or write to: The Fidelity Service Center, P.O. Box 770003, Cincinnati, OH 45277-0070)
JOINT AND SUVIVOR ANNUITY OPTION
Joint and Survivor Annuity Option (Restoration of Full Monthly Pension)
If your retirement benefits included the joint and survivor option and your pension was reduced 10% to ensure your spouse would receive 50% of your monthly retirement pension (and your spouse predeceased you), you may restore your full monthly pension. (Contact the Fidelity Service Center at the number in the preceding paragraph or on the last page of the newsletter.)
Only your spouse at the time of the start of your service pension is eligible for the continuation of your pension benefit.
HMOs
A number of our members have been impacted by substantial increases in their 2008 HMO health benefit contributions and have called this to our attention. For your edification, the short answer is that HMO premiums have increased significantly for some Health Maintenance Organizations (some as much as 18%) caused by "bad claims experience", i.e. significantly higher than expected members’ claims for extensive medical treatment. When this occurs, the HMO attempts to recoup their losses by raising member's rates. This situation is compounded when the Pacific Telesis Group Health Care Network costs remain relatively flat. If the cost of the HMO exceeds the cost of the company plan, the retiree pays the same contribution as those enrolled in the company plan - plus the excess of the amount the HMO exceeds the company plan cost. (For example, if the monthly premium for an HMO was $1500 and the premium equivalent rate for the company plan was $1400, that difference = $100. If the contribution for the company plan is $250, then the employee enrolled in the HMO would pay $250 + $100 = $350.)
The cost factors involved in the selection of an HMO are myriad and include Medicare eligibility, dependents, availability of HMO choices, etc. Members are encouraged to explore all avenues in their choices.
In closing my annual report, a special note of appreciation goes to our retiring Treasurer, Mr. Robert Hinshaw. Through his personal efforts, the TelCo Retirees Association, Inc. has attained financial security worthy of the best non-profit organizations. His advice and counsel will be sorely missed as we go forward into the coming year.
VIGILANCE IS THE PRICE AT&T RETIREES PAY FOR
THE PROTECTION OF THEIR BENEFITS.
Summer K. Emery |
WANTED -
MONEY MANAGER
The position of Treasurer will soon be vacated by the retirement of Bob Hinshaw. Our Association has been seeking a member living in the Greater San Diego area (El Cajon, La Mesa, Chula Vista, Scripps Ranch, Solana Beach, La Jolla, Santee, Pacific Beach, etc.) who would like to become a vital part of the TelCo Retirees Association.
The TelCo Association Treasurer is a member of the Executive Committee and interacts with our Board of Directors.
If you have a desire to become an integral part of the Association committed to the continuation of our promised benefits, please contact Chuck Gilbert, President, 619-991-2709, S.K. Emery, Chairman, 619-583-5577 or Bob Hinshaw, Treasurer, 619-583-2633. |
Your Attendance is Requested
at the General Meeting
February 7, 2008
The TelCo Retirees Annual Membership Meeting will be held at the La Mesa Woman’s Club, 5220 Wilson Street, La Mesa, CA on Thursday, February 7, 2008. It will start at 8 am with cookies/rolls and coffee available and is expected to end by 1 pm. This meeting is extremely important for both the board & members; there will be an exchange of information on what the board and other national groups are actively working on to benefit all retirees. |
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TelCo Retirees Association, Inc. CASH FLOW REPORT
as of September 30, 2007
Robert Hinshaw - Treasurer
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CATEGORY
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2003
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2004
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2005
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2006
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2007 YTD
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CASH FLOW IN
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- |
- |
- |
- |
- |
| Dues & Donations |
0.00
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57,952.00
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73,310.25
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69,128.00
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61,855.00
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| Loans |
2,685.00
|
66.00
|
0.00
|
0.00
|
0.00
|
| Dividends & Interest |
0.00
|
0.00
|
0.00
|
200.90
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182.13
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| Redemptions |
0.00
|
0.00
|
0.00
|
5,000.00
|
7,000.00
|
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TOTAL
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$2,685.00
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$58,018.00
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$73,310.25
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$74,328.90
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$69,037.13
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|
-
|
-
|
-
|
-
|
-
|
-
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CASH FLOW OUT
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- |
- |
- |
- |
- |
| Banking |
0.00
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72.35
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35.35
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112.80
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95.75
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| Mailing |
212.00
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4,910.65
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6,308.60
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7,123.66
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5,386.70
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| Printing & Repro. |
0.00
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5,985.16
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7,432.58
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7,582.45
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4,737.38
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| Office Supplies |
0.00
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778.11
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759.54
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1,561.93
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758.50
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| Advertising |
0.00
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638.02
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1,374.98
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398.70
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0.00
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| Meetings & Travel |
0.00
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5,311.49
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23,693.67
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10,209.22
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8,241.88
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| Professional Services |
0.00
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7,141.98
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4,282.25
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4,966.00
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3,366.75
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| Liability Insurance |
0.00
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1,800.00
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1,800.00
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1,620.00
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0.00
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| NRLN Dues |
0.00
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2,050.00
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2,000.00
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6,114.00
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5,860.00
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| Loans Paid Back |
0.00
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2,551.00
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0.00
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0.00
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0.00
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| Miscellaneous |
20.00
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677.00
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111.00
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1,102.50
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625.70
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| Investments |
0.00
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2,000.00
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32,036.00
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50,000.00
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40,000.00
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TOTAL
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$232.00
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$33,915.76
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$79,833.97
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$90,791.26
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$69,072.66
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| CASH FLOW
EXCESS/(SHORT) |
$2,453.00
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$24,102.24
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($6,523.72)
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($16,462.36)
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($35.53)
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| BANK ACCOUNT BALANCE |
$2,453.00
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$26,555.24
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$20,031.52
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$3,569.16
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$3,533.63
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| Active Members
(New & Renewals) |
- |
1664
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2088
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1953
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1839
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Incoming President’s Message:
We are preparing for our Annual Meeting. It will be held February 7, 8-1pm at the La Mesa Women’s Club, 5220 Wilson St., La Mesa, CA. (You may wish to get there a little early for beverages and donuts/muffins etc.) I urge YOU to attend. The agenda will include the usual year end reports, but, more importantly, you will receive first hand information about what your TELCO team and our sister association NRLN, National Retirees Legislative Network, is aspiring to accomplish in Washington, DC, and in local association areas. We have helped to formulate the NRLN’s agenda for 2008. I am an active board member representing YOU, (TELCO), at the national level. For more information go to your TelCo website, www.telcoretirees.org or the NRLN website, www.hrln.org.
I will attend the NRLN annual meeting in Washington, DC, January 22-24, 2008. We are the only organization dedicated exclusively to helping restore and advance fixed income and healthcare benefits for retirees through legislative action at the national level. The 2008 agenda is to long to report in this newsletter. However, our progress can be followed at the websites. Every person’s membership counts! Sign up your retired friends. Talk/write your elected officials about issue that effect you. BE a voice, BE heard, LET them know about your TELCO/NRLN affiliation. We have made a difference and we can again in 2008.
I welcome this opportunity to serve and I look forward to meeting you at our February 7, 2008 Annual Meeting.
Chuck Gilbert, President |
EEOC RULES: U.S. COMPANIES CAN ELIMINATE
HEALTH BENDFITS FOR MEDICARE ELIGIBLE RETIREES
- The EEOC created the "proposed rule" and solicited public opinion in 2004-05.
- The NRLN issued a press release and sent messages to Congress opposing the "proposed rule". AARP actually went on record, publicly, in support of the "proposed rule".
- The NRLN and others wrote its members, objected to AARP’s position, and accused the EEOC of legislating, rather than upholding the law. AARP lost 35,000 members and then reversed its original position. We supported their move.
- AARP sued the EEOC at the District Court level and won but the same District Judge who ruled in favor of AARP the 1st time, reversed herself in 2007.
- AARP filed an appeal with the Supreme Court and the NRLN met with AARP’s legal staff to see if they would allow us to file an amicus (friend of the court) brief. Eventually, the Lucent Retirees (LRO) connected with AARP’s attorneys and the National Employees Legal Association (NELA). The LRO board approved funding to support filing of the brief. NELA filed the amicus brief, pre-cert, meaning the brief was intended to get the court to agree to hear AARP’s appeal. They filed on the 12/20/07 deadline.
- In spite of the Supreme Court deliberation as to whether to hear the case or not, the EEOC "issued" the final rule, making it effective in 2008!
Your TelCo Retirees Association, Inc., in concert with the National Retiree Legislative Network (NRLN), plans to implement a major political effort with all members of Congress to negate this ruling. We shall be asking all members of our association to become personally involved in this issue in protecting the benefits promised at the time of our retirement.
Chuck Gilbert, President |
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Editor’s Notes
Happy 2008!
I hope you approve of the new newsletter format. The Newsletter will continue to be written and distributed shortly following the Board’s Quarterly Meeting or as items needing immediate distribution to the membership arise. Suggestions for items to be included are appreciated and can be sent to the Editor % TelCo Retirees Association, Inc., P.O. Box 600067, San Diego, CA 92160-0067 or info@TelCoRetirees.org.
Benefits Update - AT&T mailed out a "Benefits Update" in December 2007, with important, but brief information regarding your 2008 benefits, and end of year deadlines for Prescription Drugs. If you have not, as yet, received this information in the mail, please call the Fidelity Service Center - 800-416-2363, and don’t forget to have your PIN available before you call.
One of the problems that this editor has is the PIN and SSN/customer ID when you make a call or go on line to Fidelity! No matter how many notes I seem to make, I ALWAYS have a problem getting to speak to a live person or log in! While I do understand the need to keep our information private, I just wonder how, when the time comes for a family to report a retirees death, a member of the family or designated trustee is going to even get to talk to a live person. Not only do we have to have all the important phone numbers well documented & available, all the PINs for each type of Benefit must be easily identified for those who will need them after we are gone. We will publish the following list of "Important Numbers" in every Newsletter, but I suggest you add on your PINS & customer IDs and put the page in your important document files. (I feel sorry for my trustee, she has to find my stuff!)
Jeanne Brady, Editor |
Important Numbers–
Employee Benefits Plans / Programs
Retirees Contact Information
(Effective February 2007)
United Health Care
P.O. Box 30557 Salt Lake City, UT 84130-0557
AT&T Medical Plan —
1-877-506-7221
Pre-certification --
1-866-705-9767
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Pensions
Fidelity Service Center
P.O. Box 770003 Cincinnati, OH 45277-0065
1-800-416-2363
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Prescription Drugs
Caremark (AT&T Dedicated Unit)
P.O. Box 686005 San Antonio, TX 78268-6005
1-800-378-8851
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Vision Service Plan
P.O. Box 997105 Sacramento, CA 95899-7105
1-800-428-4833
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Savings / Security Plans
Fidelity Service Center
P.O. Box 770003 Cincinnati, OH 45277-0065
1-800-416-2363
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Care Plus
AT&T Care Plus Plan
P.O. Box 30571 Salt Lake City, UT 84130-0571
1-877-261-3340
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Employee Telephone Concessions
(Pacific Bell)
1-800-696-8833
(8:00 a.m. - 5:00 p.m. -- Pacific Time)
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Death Benefits
AT&T Survivor Benefits Service Center
1-888-658-8053
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Vision Service Plan
P.O. Box 997105 Sacramento, CA 95899-7105
1-800-428-4833
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Life Insurance
AT&T Health Benefits Enrollment Center
100 Half Day Road P.O. Box 1474 Lincolnshire, IL 60069-1474
1-877-722-0020
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Retirees Wireless Telephone Discount
(For AT&T Retired Employees)
1-800-869-2654
(Be sure to use your company code: 18463)
(Two free Pantech C3 Phones -- when you
activate a new line of service with a two
year contract
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Request for Copies of Documents
(Summary Plan Descriptions)
AT&T Health Benefits Enrollment Center
100 Half Day Road
P.O. Box 1474 Lincolnshire, IL 60069-1474
(Go to http://access.att.com)
1-877-722-0020
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