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Dear GMRA Member,
The letter below is for your
information. We appreciate your support. Hope we can count on
you to pass this along within your network of GM retiree friends
and acquaintances who are not GMRA members.
October, 2010
Dear GM Retiree,
We continue to work on your behalf to protect
GM retiree pensions and represent the interests of GM retirees.
Working closely with the National Retiree Legislative Network,
we are engaging the support of Congress -- officials we elect --
to protect our pensions. The GMRA legislative agenda is
available at the GMRA website:
GMRA
Legislative Agenda.
We need your support to continue our work.
There are costs associated with our operation such as website
maintenance, mailings, communication and legal counsel. In
fairness to dues-paid members, we will be restricting access to
GMRA website notices, litigation actions, email alerts and other
GM retiree news to registered dues-paid members effective
November 1, 2010.
A GMRA membership includes a complimentary
membership with the National Retiree Legislative Network (NRLN).
The GMRA executive board receives no compensation for their
time, talent and effort.
If you are a paid GMRA member and have
contributed your dues of $25 for 2010, thank you for your
support. You will continue to have full access to the GMRA
website and will receive GMRA news, alerts and notices. Make
sure that your contact information with GMRA is current so you
do not miss GMRA news or mailings. You can check your
information on record and make changes online using the Change
Profile option on the GMRA website:
Change Member Information.
An update on GMRA activities follows at the
end of this letter. If you belong to a retiree club, consider
distributing this letter and update at your next club meeting.
To Join:
It takes just five minutes to join GMRA or renew a membership
and make your payment online at Join or Renew Membership. If you
prefer to register by mail, complete the Member Registration
form at:
Member Registration Form and mail it back with your check.
If you are experiencing financial difficulty and cannot
contribute at this time, let us know.
Please forward this notice to your GM friends and acquaintances
to get onboard with us too. There is strength in numbers and
with your help, we will continue to grow.
We always appreciate hearing from our members and welcome your
input on your personal retirement challenges.
All the best,
President
GM Retirees Association
GMRA BOARD OF DIRECTORS
| John
Christie, President |
Ralph
Montileone, Regional VP, South East |
| Jim
Shepherd, VP, GMRA and Regional VP, Mountain |
Rick Knoth,
Regional VP, Michigan |
| Wayne
Williamson, Treasurer/Secretary |
Vern
Henderson, Regional VP, Great Lakes |
| Angele Shaw,
Communications Director |
Vic Poleni,
Regional VP, South West |
| Kathy
Gacioch, Membership Director |
Sushil Birla,
Regional VP, Mid-Atlantic |
| Darla
Freeman, Regional VP, North East and Legal Liason |
Bud
McDonald, Regional VP, West Coast |
Working for You
The GMRA team is working hard to protect GM
retiree pensions and what remains of our retirement benefits.
The following list is to keep you updated on our work in
progress, accomplishments, and the challenges we face.
GMRA work is challenging and rewarding. If you can spare time to
support an excellent cause -your retirement future- let us know
at the GMRA website volunteer page:
http://www.gmret.org/volunteer.php. Remember, these are
gratuitous positions. We work for you free of charge, donating
our time for the greater good. GMRA volunteers, including the
Board of Directors, receive no compensation for their time or
talent.
There are several areas where we need help: experience with
excel spreadsheets and data, developing and coordinating website
content and event coordination. If you have background in other
areas, we would like to hear from you too. Also, the NRLN is
looking for someone with a Market Research background. Contact
NRLN at:
http://www.nrln.org/Feedbackform.php.
GMRA Activities
-
Incorporated GMRA as a Michigan non-profit social welfare
organization (2009). Recruited thousands of GM retirees as
members. GMRA is a nation-wide organization with members in 50
states.
-
GMRA leaders are reaching out to GM Retiree Clubs in order to
pursue ways we can work together to accomplish our mutual goals
as GM retirees. GMRA encourages Club leaders to connect with us.
-
Established a working relationship with GM as an official
interface on behalf of GM retirees.
-
GMRA is in ongoing dialogue with GM representatives including
face-to-face meetings and conversations with GM representatives
to discuss retiree pension and benefit issues and concerns. We
are working together to identify new programs and opportunities
for GM retirees and to surface and resolve retiree issues.
-
GMRA is making every effort to ensure GM is aware of the growing
disappointment and distrust of GM by retirees. The result of the
drastic benefit cuts and GM’s disregard for the commitment to a
“Total Compensation” package that included continued health care
and other benefits continuing through retirement years is
influencing the purchasing decisions of GM retirees.
-
As a result of joint GM/GMRA discussions, GM conducted a
benchmarking study to determine the best dental discount options
for retirees. The discount dental information is available on
the U.S. Socrates Retiree website. Visit the GM Socrates
Retirees website for more information:
https://www.gmretiree.com/GM-Retiree-Home.
-
Discussions with GM included the need for a GM retiree website
that would include two-way communication in order to address
retiree issues quickly. Input from members indicated they were
experiencing unreasonably long wait times and inaccurate
information when contacting the GM Benefits & Services Center
(Fidelity). According to GM representatives, retiree servicing
will be addressed with Fidelity.
-
GMRA suggested a COBRA program for retirees, similar to the
COBRA program available to all represented retirees for Dental
and Vision Care. GM’s Human Resources representatives agreed to
pursue the possibility.
-
A
special vehicle purchase discount incentive program for retirees
was discussed and GMRA provided input and recommendations. We
were informed a program would be developed. We have no update on
the status or timing of a retiree vehicle purchase program.
-
GMRA is actively involved in lobbying for legislative reform and
new legislation to protect the pensions and benefits of
retirees, in collaboration with the NRLN. Current pension laws
lack in clarity and are in fact often cited as an expense
(overhead) and used against retirees. Specifics on the
Legislative Agenda are available at the GMRA website at:
http://www.gmret.org/agenda.php.
-
In September 2010, GMRA representatives traveled to Washington,
D.C. to lobby for retiree rights, including pension legislative
reform. In one day on Capitol Hill, GMRA representatives met
with eight different Senators and Congressional Representatives
and their staff in a series of pre-scheduled meetings. We voiced
the need for their support of equitable treatment of retirees.
-
Citing GM’s use of pension fund assets for non-pension business
operating expenses as one example, we educated Representatives
and Senators on the need for new legislation that would stop
company use of pension assets to pay lump-sum severance or
layoff payments or for corporate business expenses.
-
The GMRA Grassroots network supported letter-writing campaigns
and participated in local visits with Congressional
representatives to encourage their support for protecting the
interests of retirees.
-
GMRA leaders met with the Pension Benefit Guaranty Corporation (PBGC)
and its staff on three occasions to present GM retiree issues
and concerns.
-
Actively pursued new opportunities to create awareness of GM
retiree concerns, including an organized demonstration during
the Presidential visit to Michigan, press releases and media
outreach and interviews.
-
Consulted with professional legal counsel on current issues and
matters of interest to GM retirees.
-
GM pension fund status
-
Given the economic chaos and financial downturn, there is
concern and lack of confidence that funding levels are stable,
based on discussions with the PBGC.
-
A
full analysis of the GM pension fund was compiled and posted to
the GMRA website at
www.gmret.org,
and is available online to GMRA dues-paid members. The analysis
is based on a GM pension filing of the last five years, through
Sept. 30, 2007. An update to the GM pension fund analysis is in
progress, based on recent information provided to us that
includes GM filings through Sept. 30, 2008. The updated analysis
will be available on the GMRA website, to dues-paid members,
when it is completed.
-
GMRA leaders met with PBGC officials during the September 2010
Fly-in visit, including an introduction to the newly appointed
director, Joshua Gotbaum, who has responsibility for the
agency's management, personnel, organization, budget and
investments.
-
Discussions with the PBGC officials included our concerns for
the lack of valid and timely GM financial reporting data and
concerns for the overall viability of the GM pension fund.
-
Conversations with the PBGC staff confirm that the best scenario
for GM pension plan participants is a fully funded pension and
GM’s financial reporting schedule needs to be accelerated in
order to validate the status of the GM pension fund. We intend
to elevate this as a lobbying issue.
-
Support for NRLN White Paper development to protect the
interests of retirees, the first step in introducing new
legislation into bills. Two White Papers were recently completed
on Corporate Bankruptcy Reform and PBGC
Reform. The PBGC White Paper was presented to the
Pension Benefit Guarantee Corporation, the House Education and
Workforce Committee and the House Ways and Means Committee in
September. Full text of both White papers is available online
at:
http://www.nrln.org/_pvtflyin.html
We appreciate the feedback we receive from our members and
encourage you to stay in touch with GMRA to help us identify
areas where we need to focus our activities. You can reach us at
the Contact Us option on the GMRA website:
www.gmret.org. |
