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sciulliCHAPTER PRESIDENT'S MESSAGE

November 2020

Open enrollment is over. The election is over. How will we manage to stay awake now?

One of our members had a suggestion and sent along a gift for nostalgia buffs. Click here to read the Story of WECO - 1938. Other history info is available at the HISTORY CORNER.

Joe Sciulli
Chapter President

HOW YOU CAN HELP OUR CHAPTER

  • Be an active member. Respond to Action Alerts. Congress does listen to what constituents are saying. Your letters supporting NRLN lobbying efforts make a difference. Congress knows that those letters and emails are from retirees trying to protect retirees.

  • Reach out to other retirees that you know through clubs, your emails or Facebook. We need them to join us to gain strength. Ask them to sign up for emails here.

  • Volunteer your time. We need folks who are a little younger than mid-eighties to help in small ways. It’s time for the next generation -- you know, you 60- to 70-year-olds, to step up! Bob Martina needs Grassroots volunteers. . If you have HR experience, you could be very helpful in the benefits area. If you think you would like to help, even a few hours a week, email me at lucentchapter@nrln.org.

  • Support us financially. Your contribution of $25 or more is important to finance the work of the new chapter. Click here to make your contribution by credit card or send a check to NRLN Inc., and mail to PO Box 69051, Baltimore, MD 21264-9051.

Let’s get our new chapter off to a strong beginning!


HELP FOR SURVIVORS

We receive frequent requests for dealing with the passing of a retiree or surviving spouse. Consequently, we have created a document that focuses on communicating with Nokia benefits and pensions, along with links to websites with checklists for other family issues. The document is available here.

RETIREE ISSUES BEING PURSUED BY THE NRLN

Life Insurance Benefit: The LRO has been dealing with Nokia for years to secure additional funding for the underfunded Group Life Insurance Trust (GLI). Recently Nokia announced it plans to transfer up to $76 million of the excess pension assets to pay for Group Life coverage for eligible Lucent / Nokia retirees. The current pension funding exceeds the current law's threshold of 120%. The NRLN, LRO and Nokia continue to lobby members of Congress to pass legislation that would make it possible for Nokia (and other companies) with pension plans funded at 110% or more to use surplus funds to sustain benefits.

Pension Recoupment: The NRLN is also advocating its pension recoupment proposal. Recoupment is when a pension plan sponsor finds an error in the pension payment calculation and forces a retiree (some Lucent retirees have experienced this) to pay back thousands of dollars and suffer a cut in his/her pension benefit. The NRLN wants to limit on the number of years that retirees can be exposed to paying back overpayments and the percent that can be taken from their monthly pension checks to repay the pension plan.

Corporate Mergers: We have gone through the corporate mergers with Alcatel-Lucent and Nokia. The NRLN has developed a whitepaper and is lobbying Congress for legislation to protect retirees in corporate mergers, acquisitions and spin-off.

Social Security: Beginning in 2020, Social Security will pay more in benefits than it takes in from taxes and interest. Social Security will deplete its $2.9 trillion reserve fund in 2035. While the program will not go bankrupt due to payroll taxes, benefits would be cut by about one-fourth. To prevent a cut in benefits and fund the program for the next 75 years, the NRLN is supporting passage of Social Security 2100 Act in Congress.

Medicare & Medicare Advantage: Original Medicare’s Hospital Insurance program (Medicare Part A) is pointed toward insolvency by 2026. At that time, Medicare Part A will only have enough funds to pay about 87% of costs. Congress is allowing the Centers for Medicare and Medicaid (CMS) to use taxpayer dollars to subsidize insurance companies for Medicare Advantage (MA) plans to serve as a move toward privatization. The NRLN opposes the use of MA plans to privatize Medicare. The NRLN is also advocating that original Medicare participants have access to the special benefits being offered in MA plans. If Medicare is privatized, current MA plan participants should be grandfathered to protect their benefits and subsidies.

Prescription Drug Prices: The NRLN is lobbying to allow Medicare to do competitive bidding for lower prescription drug prices; end pay-for-delay and other brand name drugmakers’ tactics that keep generic drugs off the market, and allow importation of safe and less expensive drugs from Canada.


LRO DISSOLUTION MEETING POSTPONED

In view of the possible threat to the US from the coronavirus and for the welfare of our members, the LRO Board has decided to cancel the LRO Member meeting scheduled for March 25, in Dallas, TX. The meeting will be rescheduled to a later date with ample advance notification to our members to allow for travel accommodations. Thank you for your understanding of this postponement and your vigilance in remaining cautious and healthy.

review focus READ THE LATEST ISSUES OF REVIEW AND FOCUS HERE


RETIREE ISSUES IN THE NEWS

This column contains media links to articles of particular interest to Lucent and Nokia retirees.Please visit www.nrln.org for a wider range of retiree news.

Nokia's new CEO may face leadership brain drain
By Mike Dano; Light Reading ~ Nov 25, 2020

Basil Alwan, Sri Reddy join Nokia exodus
By Ray Le Maistre; TelecomTV ~ Nov 24, 2020

How 5G Is Changing the Landscape for Nokia
From Dana Blankenhorn; InvestorPlace ~ Nov 24, 2020

Nokia’s latest top table team change: Marcus Weldon out as CTO, head of Bell Labs
By Ray Le Maistre; TelecomTV ~ Nov 23, 2020

As Its Free Cash Flow Perks up Nokia Stock Has Breakout Potential
By Mark R. Hake, CFA; InvestorPlace ~ Nov 17, 2020

UScellular's new ConnectHQ IoT service powered by Nokia WING
Via “News Wire Feed”; Light Reading ~ Nov 16, 2020

Nokia Stock Continues to Struggle to Rise Above $4
From Will Ashworth; InvestorPlace ~ Nov 13, 2020

Nokia (NOK) Modernizes Deutsche Telekom's Networks for 5G Era
Via Sacks Equity Research; Yahoo Finance ~ Nov 12, 2020

CommScope, Nokia team up on 5G antennas
Via “News Wire Feed” ; Light Reading ~ Nov 11, 2020

Nokia breaks the French connection as CMO quits
By Iain Morris; Light Reading ~ Nov 06, 2020

Setback for Nokia in German patent battle with Lenovo
By Douglas Busvine ; Reuters ~ Nov 02, 2020

Nokia’s New CEO Will Do ‘Whatever It Takes’ on 5G, Shares Fall
By Kati Pohjanpalo; Bloomberg ~ Oct 29, 2020

Nokia (NOK) Q3 Earnings Miss, Shares Fall on Tweaked View
Yahoo Finance – Oct 29, 2020

Nokia Escalates Patent Wars by Taking on German Lenovo Sales
By Karin Matussek; Bloomberg ~ Oct 22, 2020

NYPA to test private LTE with AT&T, Nokia, Anterix, others
Via “News Wire Feed”; Light Reading ~ Oct 22, 2020

Why Nokia Could Get Bought Out
By Chris Lau, Seeking Alpha – Oct 21, 2020

Verizon and Nokia snuggle up in private 5G
By Iain Morris; Light Reading ~ Oct 20, 2020

AT&T adds Nokia to CBRS private network drive
Via “News Wire Feed”; Light Reading ~ Oct 19, 2020

Nokia secures $14.1m NASA funding to roll out 4G on the Moon
XDA Developers ~ Oct 17, 2020

Nokia Ditches Data Centers for Google Cloud in Five-Year Deal
By Thomas Seal; Bloomberg ~ Oct 14, 2020

Nokia adds to 5G hype with $8T forecast
By Iain Morris; Light Reading ~ Oct 12, 2020

Belgian telcos drop Huawei for Nokia
By Iain Morris; Light Reading ~ Oct 09, 2020

Equinix to deploy Nokia's IP/MPLS network
Via “News Wire Feed”; Light Reading ~ Oct 07, 2020

Opinion: Microsoft In The Frame To Buy Nokia (Again)
By Barry Collins, Forbes – Oct 5, 2020

Nokia hits 100 5G deals
By Bevin Fletcher; FierceWireless ~ Oct 02, 2020

Nokia launches ‘world-first’ 4G, 5G automation network slicing solution
By Charlie Osborne; ZDNet ~ Oct 01, 2020


SPECIAL NOTICES TO MEMBERS

Nokia Benefits Website

Retirees can use the YBR website for benefit-related activities such as:

  • Enrolling in Nokia’s health and welfare plans (e.g., medical and dental);
  • Making and/or changing Nokia Savings/401(k) Plan elections;
  • Updating dependent or beneficiary information
  • Projecting pension benefits and/or electing to commence pension benefits.

Nokia Benefits Resource Center (NBRC)1-888-232-4111
International Long Distance 1-212-444-0994

https://digital.alight.com/nokia   
Other links here.


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