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NEWS FOR GM RETIREES

 

NRLN Is Working For Your Retirement Security

 

Today, corporations and public institutions alike continue to break their promises by reducing, and even eliminating, retirement benefits. Far too often, the pensions and benefits that men and women worked so hard to acquire are disappearing as more companies than ever before withdraw and cancel benefits.
 

A horrific example of corporate broken promises is General Motors’ cancellation of medical, dental, vision, hearing aid, prescription drug, extended care coverage and a $76 per month Medicare B premium payment, for over 190,000 salaried retirees age 65 and older, surviving spouses and dependents. In lieu of the healthcare benefits, GM will provide a monthly pre-tax pension increase of $300.  This amount will only be a drop in the bucket for what it will cost retirees living on fixed incomes to purchase replacement insurance for the coverage lost.


It has reached the point where the best hope for retirement security is to gain federal legislation that ensures the fair treatment of retirees. Based in Washington, D.C., the National Retiree Legislative Network (NRLN) is the only organization in the USA dedicated to a single mission—the protection of retirees’ pensions and benefits through the enactment of federal legislation.

 

Retiree Associations and Grassroots Advocates Create Strong Voice

The NRLN is a nonprofit, nonpartisan organization whose strength comes from a grassroots alliance of management and union retiree associations and individual members. Retirees from General Motors, Ford, Chrysler, AT&T, PAC/Nevada Bell, Ameritech, Southern New England Tel, US WEST/Qwest, Lucent, IBM, Boeing, Aetna, Prudential, Detroit Edison, GM, Ford, Chrysler, Raytheon, and others are among the current members. The NRLN Board of Directors, its Washington staff and tens of thousands Grassroots Advocates in all 50 states are dedicated to gaining passage of a legislative agenda to protect employer-sponsored pensions and benefits, plus keep Social Security and Medicare strong.

 

The NRLN’s lobbying on Capital Hill is based on the merits of its proposals. The NRLN does not spend one cent on wooing members of Congress or their staffs—no campaign contributions, lunches, trips, etc. The NRLN’s lobbying is performed by its staff and Grassroots Advocates, the constituents who write and speak to their U.S. Senators and Representatives about retirement issues. The NRLN does not contact or talk with member association companies (GM) or otherwise engage in association business.

 

How GM Retirees Can Help Make A Difference

 

It is the individuals who sign up to be NRLN Grassroots Advocates who deliver the messages that have the best chance of influencing their elected representatives. Further, as grassroots members they get NRLN’s timely messages about what is happening that could affect them and what is going on inside the NRLN. When you enter your name, email address and U.S. Mail address in the Capwiz database by signing up at http://capwiz.com/abtr/mlm/signup/ you are joining a special group who want to make a difference in the lives of retirees.

 

The reason that email addresses are required for the Grassroots Network is so that the NRLN staff can send you email messages and progress reports on important retirement issues. Your contact information in the NRLN's secure database will only be used to send NRLN messages to you. Your U.S. Mail address, including 9-digit Zip Code, is important because there are times when we need to identify the constituents of particular U.S. Senators and Representatives who should hear the views of retirees and future retirees from "back home" on bills before their committees.

 

Capwiz uses Zip Codes to identify them by State, District and name.

With help from GM retirees, the NRLN can advance its mission of gaining federal legislation that provides for fair treatment of retirees. For more information about the NRLN, go to its website at www.nrln.org .

 

OverTheHillCarPeople Organization Gets Stronger but Does Not Change

 

Like all other 22 NRLN retiree associations, OverTheHillCarPeople will retain its’ independence, mission, website and all member services. Our local GM clubs are encouraged to sign up individually as an NRLN association and individuals may become individual members. We will add strength to a nationwide retiree lobby.


 

Click here to access OverTheHillCarPeople.

 

LATEST GM NEWS

 

 

GM Cut $500 Million in Annual Union Costs Since '07
By Jeff Green; Bloomberg.com ~ Nov 17, 2008
General Motors Corp., trying to win government aid as it runs out of cash, has eliminated about $500 million in annual U.S. union costs by hiring out jobs such as janitors and getting more flexibility from remaining workers. Read more...


As it asks for bailout, GM cuts extravagance, office supplies
By Chris Woodyard; USA TODAY ~ Nov 17, 2008
General Motors' Cadillacs and Hummers may be icons of extravagance, but a cash crunch is forcing frugality on the automaker, from paper clips to auto shows...Read more...


GM retirees worry about pension, benefits as company struggles
By Corey Mitchell; The Bay City Times ~ Nov 17, 2008
On the second Thursday of every month, hundreds of retirees from United Auto Workers Local 668 gather for a catered meal, bingo and socializing at their union hall on Farmer Street in Saginaw. That meeting struck a different tone last week... Read more...


GM to Sell Entire Stake in Suzuki to Raise Cash
By The Associated Press; Fox News ~ Nov 17, 2008
General Motors Corp., a struggling U.S. automaker, will sell its entire stake in Suzuki Motor Corp. for $230 million to raise cash, the Japanese company said Monday...Read more...


Automakers' financial troubles concern retirees
By Craig Patrick; Fox 13 News ~ Nov 15, 2008
Robert Siwecki retired from General Motors in 1982, and says he is very concerned by reports of his former employer's financial distress. "I'm worried about losing my pension," Siwecki said..Read more...


GM Blitzes Washington in Attempt to Win Aid
By Jeffrey Mccracken & John D. Stoll; The Wall Street Journal ~ Nov 15, 2008
General Motors Corp., hoping to sway the battle in Washington over an auto-industry bailout, has begun telling federal officials that a bankruptcy filing by the car maker would set off a chain reaction hammering hundreds of suppliers and dealers -- and in turn the company's Detroit rivals...Read more...


GM Collapse at $200 Billion May Exceed Bailout Plan
By Alex Ortolani & Mike Ramsey; Bloomberg.com ~ Nov 14, 2008
General Motors Corp., seeking a federal bailout as its cash dwindles, would cost the government as much as $200 billion should the biggest U.S. automaker be forced to liquidate, a forecasting firm estimated...Read more...


GM asks dealers to lobby for additional auto loans
By Soyoung Kim & Poornima Gupta; Reuters ~ Nov 12, 2008
General Motors Corp asked all its U.S. dealers on Wednesday to urge the Congress to approve an additional loan package to help the automaker deal with its liquidity crisis.Read more...


White-Collar G.M. Retirees Scramble as Care Is Cut Off
By Nick Bunkley; The New York Times ~ Nov 10, 2008
General Motors is living on borrowed time, spending more than $2 billion in cash a month and lobbying for a government bailout to keep it out of bankruptcy. And for about 100,000 of its white-collar retirees, time is about to run out on G.M.’s medical benefits... Read more...


GM grapples to avoid filing bankruptcy as cash vanishes
By Katie Merx, Detroit Free Press - Nov. 8, 2008
General Motors Corp., for 77 years the world's largest automaker and an icon of American industry, revealed a dire financial outlook Friday that has the company teetering on the edge of bankruptcy. GM Chairman and Chief Executive Officer Rick Wagoner said the company will take every step possible to avoid bankruptcy -- which GM continues to insist is not an option... Read more...


GM doesn’t foresee required contributions
By Barry B. Burr; Pensions & Investments ~ Nov 07, 2008
General Motors Corp., Detroit, does not expect to have to make any pension contributions to meet minimum funding requirements in the next three to four years, even though its funded status declined in the first nine months of 2008 because of negative investment returns and recent employee-related cutbacks...Read more...


Carmakers Report Losses as They Burn Cash
By Bill Vlasic And Nick Bunkley; The New York Times ~ Nov 07, 2008
General Motors is edging closer to running out of money, as slumping sales and deteriorating economic conditions drove the automaker to a larger-than-expected loss of $4.2 billion in the third quarter, excluding a one-time gain... Read more...


GM Workers' Risky Savings Plan
By Joann Muller; Forbes ~ Nov 06, 2008
It's bad enough that General Motors employees and retirees risk losing their jobs and their retirement benefits if the automaker runs out of cash and can't scare up more bailout money in Washington. But many insiders also are in danger of losing $3.9 billion in savings through an investment once deemed as good as cash. These investments, called GMAC Demand Notes, have been marketed over the years as a safe place for GM employees, retirees and others to park their money... Read more...


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Copyright © 2006 National Retiree Legislative Network

Last modified:November 19, 2008