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TELCO RETIREES ASSOCIATION, INC.
March 10, 2005
Organization
Fictitious Name.......................................February 6, 2003
Employer Identification Number (EIN).........August 12, 2003
Incorporation (State of California)...............January 7, 2004
Non-Profit (IRS)..........................................April 28, 2004
Restated Articles of Incorporation..............August 12, 2004
Non-Profit (State Franchise Tax Board)....September 8, 2004
Medicare Part B Reimbursement
Former PTG managers who retired on or after January 1, 1999 have a Medicare Part B benefit reimbursement capped at $45.00 a month for the retiree only, (No dependent spouse reimbursement available.)
Former PTG managers who retired between January 2, 1991 and December 31, 1998 would be eligible for a $45.00 a month Medicare Part B reimbursement for the retiree and their dependent spouse.
Former PTG managers who retired prior to January 2, 1991 receive the full Medicare Part B reimbursement ($78.50) for the retiree and their dependent spouse.
(This was announced by SBC as a "cost savings initiative" that was put in place beginning in 1999 and continued as SBC merged with other regional companies.)
Dates of Divestiture
Pacific Telesis Group merged with SBC effective April 1, 1997
Southern New England Telephone merged with SBC effective October 26, 1998.
Ameritech merged with SBC effective October 8, 1999.
AT&T will merge with SBC (date not yet established).
Plan Termination Policies (Pensions)
Although it has not expressed any intention to do so, SBC has the right under the Pension Plans to discontinue its contributions at any time and to terminate the Pension Plans subject to the provisions set forth by ERISA. (Employee Retirement Income Security Act)
In the event that the Pension Plans are terminated, (subject to conditions set forth by ERISA):
A. The Pension Plans provide that the net assets available for plan benefits shall be allocated among the participants and the beneficiaries of the Pension Plans in the order provided by ERISA.
B. To the extent unfounded vested benefits then exist, ERISA provides that such benefits are payable by the Pension Benefit Guarantee Corporation (PBGC) to participants, up to specified limitations, as described in ERISA, and
C. To the extent that net assets available for Plan Benefits exceed the amounts to be allocated as provided by ERISA, the Pension Plans provide that such amounts will be used for any benefit purpose that does not contravene applicable law.
Pacific Telesis Group Pension Plan
PTG Pension Plan funding (effective date of plan - 1984) reported the following net assets available for benefits (end of year).
2000 - $7,125,916,999.00
2001 - $6,131,812,000.00
2002 - $4,160,140,000.00
2003 - $4,850,744,000.00 (Total income $1,339,274,000.00 -Total benefit payments $477,535,000.00 Total administrative expenses $15,616,000.00) Total expenses $493,151,000.00 -Net income $846,123,000.00)
(During the 1990's, pension benefit "administration" involved 40 different corporations and investment groups and annual expense for administration was in excess of 40 million dollars. SBC has implemented major reductions in pension administrative expenses!)
Plan Termination Policies (Medical Benefits)
Benefits '90's (Summary Plan Descriptions January 1991 Salaried Before 1987)
Page 97 (information that affects all of your benefit plans) Although Pacific Telesis Group intends to continue each of the following plans indefinitely, Pacific Telesis Group reserves the right to terminate or change any part or all of the following plans at any time during your retirement: Medical, dental, group life insurance and pension.
Pacific Telesis Group reserves the right to require contributions by employees, retirees or their dependents for all the plans including the following: Medical, dental, group life.
Pacific Telesis Group also specifically reserves the right to add or change benefit co-payments and deductibles, (When changes or terminations in the plans are made, the new provisions will apply beginning with the effective date of the change; payments for charges incurred before the effective date will not be reduced.)
Telephone Concession
S.I. (Schedule Cal. P.U.C. A5) Filed November 20, 1998, effective January 1, 1999.
Class A concession applies to all employees with 30 years or more of service.
After December 31, 1998, Class A concession will no longer be offered except to employees with this class of service as of December 31, 1998 and employees with a Class B and C concession who reach 30 years of service on or before December 31, 2000.
Class E concession applies to all employees hired on or after January 1, 1999, management employees at District level and above who qualify for cash payments in lieu of a Class A concession, employees who have not received concession service before December 31, 1998, and employees who moved from outside the Pacific Bell service area into the Pacific Bell service area after December 31, 1998.
Class D concession applies to a bona fide second residence for those persons eligible for Class A, P or R.
Effective January 1, 1999, a second residence concession is no longer offered except for qualifying employees who have a second residence concession on or before December 31, 1998. A change to a second location after December 31, 1998 will terminate eligibility.
Class P concession applies to employees, who retired on or before December 31, 1983.
Class R concession applies to all employees retired between January 1, 1984 and December 31, 1998 and had a Class A, B, or C concession immediately before retirement.
Class G concession applies to employees who retired on or after January 1, 1999 and had a Class A concession with custom calling features immediately before retirement.
Class J concession applies to employees who retired on or after January 1, 1999 and either had a Class B or C concession immediately before retirement or were management employees at District level or above and were receiving cash payment in lieu of a Class A concession.
Limitations or Special Conditions
A. To be eligible for concession, all recipients must select Pacific Bell as their telephone service provider whenever there is a choice.
Effective December 31, 1998, telephone concession for employees out of the Pacific Bell service areas will be eliminated except for those employees of record who have the service at their primary residence location as of December 31, 1998.
B. Concession eligible employees who elect to receive the custom calling features must have selective blocking of the name and number dialing.
Effective January 1, 1999, all recipients (except retirees with a Class P or R), must have selective blocking of the name and number delivery in order to be eligible to receive concession service.
Rates and Changes
Concession rates for eligible employees or retirees apply as follows:
Class A concession - Monthly rate, installation charges, $20.00 local toll charges.
Class B concession - Monthly rate, installation charges, no local toll charges.
Class P concession - Monthly rate, installation charges, $20.00 local toll charges.
Class R concession - Monthly rate, installation charges, $20.00 local toll charges.
SBC@Home Service
Management and non-management retirees who retired before January 1, 1984 will pay $0.00 per month.
Management retirees who retired January 1, 1984 to November 14, 2000 will pay $5.00 per month.
Management retirees who retired November 15, 2000 (EPR) and kept their existing concession will pay $5.00 per month.
Management retirees who retired on or after November 15, 2000 (EPR) and selected SBC@Home will pay $20.00 month.
Management retirees who retired on or after November 16, 2000 with SBC@Home will pay $20.00 month.
Non-management retirees who retired January 1, 1984 to December 31, 2004 will pay $5.00 per month.
Non-management retirees who retired on or after January 1, 2005 will pay $20.00 per month.
(Eligible retirees may take advantage of 2 additional access lines at a discount price; $6.00 per month for each additional line without vertical features or $20.00 per month for each additional line with all vertical features)
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