For 10 years, ProtectSeniors.Org has been fighting to protect retiree earned healthcare benefits and pensions. Back in 2006, we recognized that corporations were focused on protecting their profits by cutting retiree benefits. This is the polar opposite of the commitments and promises our employers made during our careers. That ‘forever’ security blanket is long gone.
In fact, the Pension Benefits Guaranty Corporation (PBGC) has identified over one million “risk transfer events” (the selling off of pension assets) between 2009-2013.
Retirees cannot afford such sudden economic changes foisted onto our shoulders. We must continue to advocate and fight back. We earned our pensions and benefits, and we all want to protect what has already been earned and what we still have left. We cannot sit idly by and wonder whose retirement assets will be attacked next. It’s why we continue the good fight.
We have succeeded in convincing multiple state guaranty associations to increase their lifetime maximum coverage to $250,000 from $100,000 in seven states (Alaska, Arizona, Indiana, Massachusetts, Mississippi, Missouri and Nevada), where the protection was prohibitively miniscule. For those who have been or will have their pension de-risked, this is critical.
We are now pursuing federal legislation to amend ERISA and prevent employers from cutting or reducing your earned healthcare benefits forever. We are also effectively working in five different state capitals to enact PBGC equivalent protections for pension-annuities.
Our board members are unpaid volunteers. We have a small staff of outside professionals that brings your words and concerns directly to Congress and to representatives in your state capitals. We provide you with resources to petition your representatives, to communicate via your local newspapers, and to put pressure on the decision makers to do what is right for retirees.
We need to fight back and I think you recognize this fight cannot be accomplished individually. We need your support and to keep the fight going. Our small budget comes solely from your donations. Help us do more. It is critical that each of us recognize the threat to our future.
Ask your friends and family members to join and support us. Please take action now. If you have not, please contribute today either using the enclosed form below or by donating online at www.ProtectSeniors.Org. Our only goal is to help you. Once your benefits are lost they are gone for good. Don’t let that happen.
For extra print copies of this newsletter, call us at 1-800-398-3044.
Your friends at ProtectSeniors.Org