"WAKE UP WORLD!"
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"U.S. Employee Pensions are Shrinking...
While Employers Thrive off of Employee Losses!"

The "Employee Retirement & Benefit Preservation" informational website!!


THIS ONE PAGE SAYS IT ALL--- ALL PRIOR CONTENT REMOVED (9/29/06)

  • About the "Got the Cashpension Blues?"  WEBSITE: (1999-2006)

Do you have the "CASH PENSION BLUES" or any concerns regarding any benefit reduction(s) due to your company's pension plan changes ... If your company has not already slashed your benefits, yours could be next... educate yourself before it happens.

Many U.S. employee's retirement and medical benefits are at risk, while employer's reduce employee benefits at a time when many of these accounts have reported record high excess (surplus) funds. One of the tactics being used to reduce benefits and reallocate the excess funds to other areas of the employer's fancy, is to implement forced employee retirement conversions from "traditional" Defined Benefit (DB) retirement plans to the Cash-Balance (C-B) or other 'hybrid' type accounts (hybrid DB v traditional DB). Does it bother you that your own company might coldly calculate benefit reductions from these healthy accounts to put in harms way, so many of its seasoned and senior workers?

Does it bother you that on July 28 and August 3, 2006 so many representatives sold out employees and voted yes to legalize cash balance plans without provisions to protect older/tenured workers?

Is your representative protecting your retirement security? How did they vote on H.R. 4,
"Pension Protection Act 2006"?


...A YEA (Senate) or AYES (House) Vote shows all those that voted to legalize cash balance plans:

House vote (July 28, 2006):  (279 AYES & only 131 NOES)
http://clerk.house.gov/evs/2006/roll422.xml

Senate vote (August 3, 2006): (93 YEAs & only 5 NAYs)
http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=109&session=2&vote=00230

 HOUSE VOTE ---- AYES    279 ---
THESE ARE THE PEOPLE THAT DID THIS TO YOU!

Ackerman
Aderholt
Akin
Alexander
Bachus
Baker
Barrett (SC)
Barrow
Bartlett (MD)
Bass
Bean
Beauprez
Berry
Biggert
Bilbray
Bishop (GA)
Bishop (UT)
Blackburn
Blumenauer
Blunt
Boehner
Bonner
Bono
Boozman
Boren
Boswell
Boucher
Boustany
Boyd
Bradley (NH)
Brown (SC)
Brown-Waite, Ginny
Burton (IN)
Butterfield
Calvert
Camp (MI)
Campbell (CA)
Cannon
Cantor
Capito
Cardoza
Case
Castle
Chabot
Chandler
Chocola
Clay
Cleaver
Clyburn
Cole (OK)
Conyers
Cooper
Costa
Cramer
Crenshaw
Crowley
Cubin
Cuellar
Davis (AL)
Davis (KY)
Davis (TN)
Davis, Tom
DeFazio
Delahunt
Dent
Diaz-Balart, L.
Diaz-Balart, M.
Dicks
Dingell
Doolittle
Drake
Dreier
Duncan
Ehlers
Emanuel
Emerson
Engel
English (PA)
Everett
Feeney
Ferguson
Fitzpatrick (PA)
Foley
Forbes
Ford
Fortenberry
Fossella
Foxx
Franks (AZ)
Frelinghuysen
Gallegly
Garrett (NJ)
Gerlach
Gibbons
Gilchrest
Gillmor
Gingrey
Goode
Goodlatte
Granger
Graves
Green (WI)
Gutknecht
Harman
Harris
Hart
Hastert
Hastings (WA)
Hayes
Hayworth
Hefley
Herger
Herseth
Higgins
Hobson
Hoekstra
Hooley
Hostettler
Hulshof
Hunter
Hyde
Inglis (SC)
Israel
Issa
Jefferson
Jenkins
Jindal
Johnson (CT)
Johnson (IL)
Kaptur
Keller
Kelly
Kennedy (MN)
Kildee
Kilpatrick (MI)
Kind
King (IA)
King (NY)
Kingston
Kirk
Kline
Knollenberg
Kolbe
Kuhl (NY)
LaHood
Latham
LaTourette
Leach
Levin
Lewis (CA)
Lewis (KY)
Lipinski
LoBiondo
Lucas
Lungren, Daniel E.
Lynch
Mack
Manzullo
Marchant
Marshall
Matheson
Matsui
McCarthy
McCollum (MN)
McCotter
McCrery
McHenry
McHugh
McIntyre
McKeon
McMorris
Meek (FL)
Meeks (NY)
Melancon
Mica
Miller (FL)
Miller (MI)
Miller, Gary
Moore (KS)
Moran (KS)
Murphy
Musgrave
Myrick
Ney
Norwood
Nunes
Nussle
Oberstar
Osborne
Otter
Pearce
Pence
Peterson (MN)
Peterson (PA)
Petri
Pickering
Pitts
Platts
Pombo
Porter
Price (GA)
Pryce (OH)
Putnam
Radanovich
Rahall
Ramstad
Regula
Rehberg
Reichert
Renzi
Reynolds
Rogers (AL)
Rogers (KY)
Rogers (MI)
Rohrabacher
Ros-Lehtinen
Ross
Rothman
Royce
Ruppersberger
Rush
Ryan (WI)
Ryun (KS)
Sabo
Saxton
Schmidt
Schwarz (MI)
Scott (GA)
Sensenbrenner
Sessions
Shadegg
Shaw
Shays
Sherwood
Shimkus
Shuster
Simmons
Simpson
Skelton
Smith (NJ)
Smith (TX)
Sodrel
Souder
Stearns
Strickland
Stupak
Sullivan
Sweeney
Tancredo
Tanner
Tauscher
Taylor (NC)
Terry
Thomas
Thompson (CA)
Thompson (MS)
Tiahrt
Tiberi
Towns
Turner
Udall (CO)
Upton
Velázquez
Walden (OR)
Walsh
Wamp
Weldon (FL)
Weldon (PA)
Weller
Westmoreland
Whitfield
Wicker
Wilson (NM)
Wilson (SC)
Wolf
Wu
Wynn
Young (AK)
Young (FL)

HOUSE VOTE ---- NOES    131 ---  (THANK YOU!)
Abercrombie
Allen
Andrews
Baldwin
Barton (TX)
Becerra
Berkley
Berman
Bishop (NY)
Bonilla
Brady (PA)
Brady (TX)
Brown (OH)
Brown, Corrine
Burgess
Capps
Capuano
Cardin
Carnahan
Carter
Conaway
Costello
Culberson
Cummings
Davis (CA)
Davis (FL)
Davis (IL)
DeGette
DeLauro
Doggett
Doyle
Edwards
Eshoo
Etheridge
Farr
Fattah
Filner
Flake
Frank (MA)
Gonzalez
Green, Al
Green, Gene
Grijalva
Gutierrez
Hall
Hastings (FL)
Hensarling
Hinchey
Hinojosa
Holden
Holt
Honda
Hoyer
Inslee
Jackson (IL)
Jackson-Lee (TX)
Johnson, E. B.
Johnson, Sam
Jones (OH)
Kanjorski
Kennedy (RI)
Kucinich
Langevin
Lantos
Larsen (WA)
Larson (CT)
Lee
Lofgren, Zoe
Lowey
Maloney
Markey
McCaul (TX)
McDermott
McGovern
McNulty
Michaud
Millender-McDonald
Miller (NC)
Miller, George
Mollohan
Moore (WI)
Moran (VA)
Murtha
Nadler
Napolitano
Neal (MA)
Neugebauer
Obey
Olver
Ortiz
Owens
Pallone
Pascrell
Pastor
Paul
Pelosi
Poe
Pomeroy
Price (NC)
Rangel
Reyes
Roybal-Allard
Ryan (OH)
Sánchez, Linda T.
Sanchez, Loretta
Sanders
Schakowsky
Schiff
Schwartz (PA)
Scott (VA)
Serrano
Sherman
Slaughter
Smith (WA)
Snyder
Solis
Spratt
Taylor (MS)
Thornberry
Tierney
Udall (NM)
Van Hollen
Visclosky
Wasserman Schultz
Waters
Watson
Watt
Waxman
Weiner
Wexler
Woolsey



Senate vote (August 3, 2006): (93 YEAs & only 5 NAYs)
http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=109&session=2&vote=00230

SENATE VOTE --- YEAs ---93
THESE ARE THE PEOPLE THAT DID THIS TO YOU!

Akaka (D-HI)
Alexander (R-TN)
Allard (R-CO)
Allen (R-VA)
Bayh (D-IN)
Bennett (R-UT)
Biden (D-DE)
Bingaman (D-NM)
Bond (R-MO)
Brownback (R-KS)
Bunning (R-KY)
Burns (R-MT)
Byrd (D-WV)
Cantwell (D-WA)
Carper (D-DE)
Chafee (R-RI)
Chambliss (R-GA)
Clinton (D-NY)
Cochran (R-MS)
Coleman (R-MN)
Collins (R-ME)
Conrad (D-ND)
Craig (R-ID)
Crapo (R-ID)
Dayton (D-MN)
DeMint (R-SC)
DeWine (R-OH)
Dodd (D-CT)
Dole (R-NC)
Domenici (R-NM)
Dorgan (D-ND)
Durbin (D-IL)
Ensign (R-NV)
Enzi (R-WY)
Feinstein (D-CA)
Frist (R-TN)
Graham (R-SC)
Grassley (R-IA)
Gregg (R-NH)
Hagel (R-NE)
Harkin (D-IA)
Hatch (R-UT)
Hutchison (R-TX)
Inhofe (R-OK)
Inouye (D-HI)
Isakson (R-GA)
Jeffords (I-VT)
Johnson (D-SD)
Kennedy (D-MA)
Kerry (D-MA)
Kohl (D-WI)
Kyl (R-AZ)
Landrieu (D-LA)
Lautenberg (D-NJ)
Leahy (D-VT)
Levin (D-MI)
Lincoln (D-AR)
Lott (R-MS)
Lugar (R-IN)
Martinez (R-FL)
McCain (R-AZ)
McConnell (R-KY)
Menendez (D-NJ)
Mikulski (D-MD)
Murkowski (R-AK)
Murray (D-WA)
Nelson (D-FL)
Nelson (D-NE)
Obama (D-IL)
Pryor (D-AR)
Reed (D-RI)
Reid (D-NV)
Roberts (R-KS)
Rockefeller (D-WV)
Salazar (D-CO)
Santorum (R-PA)
Sarbanes (D-MD)
Schumer (D-NY)
Sessions (R-AL)
Shelby (R-AL)
Smith (R-OR)
Snowe (R-ME)
Specter (R-PA)
Stabenow (D-MI)
Stevens (R-AK)
Sununu (R-NH)
Talent (R-MO)
Thomas (R-WY)
Thune (R-SD)
Vitter (R-LA)
Voinovich (R-OH)
Warner (R-VA)
Wyden (D-OR)

SENATE VOTE --- NAYs ---5   THANK YOU!

Boxer (D-CA)
Burr (R-NC)
Coburn (R-OK)
Cornyn (R-TX)
Feingold (D-WI)
Not Voting - 2
Baucus (D-MT)
Lieberman (D-CT)

OLD NEWS PRIOR TO THE PASSAGE OF THE "PENSION PROTECTION ACT 2006":

IMMEDIATE PRESS RELEASE- PENSION RIGHTS CENTER (August 4, 2006):
Click to View PRESS RELEASE--->  "PENSION BILL (H.R. 4) A HUGE MISSED OPPORTUNITY FOR RETIREMENT SECURITY"

PENSION RIGHTS CENTER (August 4, 2006) NEWSLETTER: 

August 4, 2006

If you cannot read the text below, please click here to read an online version.

In a late-night session, the U.S. Senate passed H.R. 4, the Pension Protection Act of 2006, by a vote of 93-5.  The Pension Rights Center ’s press release on the Senate’s passage of H.R. 4 addresses several of the bill’s key provisions and the missed opportunity to protect the retirement security of millions of Americans. 

Though H.R. 4 eliminates the practice of wearaway in cash balance plans, it does not provide transition protections to the older employees who are most often hurt in cash balance conversions.  The bill also includes provisions that would allow certain multiemployer plans to reduce the already-earned subsidized early retirement benefits that have been earned by truck drivers, construction workers and others.  

Below are links to a few articles regarding the bill’s passage:

For the latest information on the Pension Protection Act of 2006, visit the criminal attorney brooklyn section of our web site.

 
  • RELATED ARTICLE/EDITORIAL: "FOOLING THE VOTERS" (July 31, 2006, NY Times) foot detox

CALL TO ACTION - PLEASE CONTACT YOUR SENATORS & REPRESENTATIVES! (AUGUST 1, 2006): 

Early Saturday morning, the house passed a so-called pension 'reform' bill that legalizes cash balance conversions without any protections at all for older workers.

If this bill had been in place in 1999, Cooper v IBM would have lost in district court. If this bill becomes law now, other victims of cash balance conversions will no longer be able to file lawsuits against their corporations, and there will no checks to stop the corporations who still offer traditional pensions from backing out of their promises.

CALL the senate offices in Washington, DC. Let them know the actions the house took before heading out on their August break were disgraceful. Older workers who have worked for years building pension benefits at a corporation deserve better from Congress than this.

If the senate wants to pass the recently passed house pension bill, they need to either amend it with the age protections that were included in the existing senate bill, or leave the current ERISA anti-age discrimination rules intact.

The more calls we make, the more likely they are to listen. If you don't call, then the corporate lobbyists win and more American workers will lose earned pension benefits.

Thanks!

Janet Krueger
Rochester, MN

CALL TO ACTION - PLEASE CONTACT YOUR REPRESENTATIVES! (March 2006): 

Congress is working on a bill that could legalize various forms of pension theft. Call your Senators and your Representative in Washington and tell them...

1) Currently, the bills do not retroactively legalize cash balance conversions. We will be outraged if IBMers lose a large share of the Cooper settlement because Congress retroactively legalized what IBM did. If you must legalize cash balance conversions, include all of the protections for older employees from the senate bill.

2) Fix underfunded plans by forcing companies to increase their contributions NOT by forcing them to cut benefits to current and future retirees.

3) Fully protect vested early retirement subsidies, especially once being collected.

4) Do not reduce the size of a lump sum distribution that can be offered in place of a promised annuity and keep the promised annuity an option.

5) Strengthen plan termination rules so that excess funds have to be used for the sole benefit of plan participants and cannot be returned to the company or to the corporate executives.

To sum it up: strengthen, NOT weaken, ERISA pension protections and let us go to court if companies do break the rules.


FOR IBMers who frequented this site from 1999-present (you can bookmark and view updates to the case):

FAQ about Cooper v IBM: http://www.allianceibm.org/pensionlawsuitfaq.htm


ALL OTHER "PRIOR" CONTENT ON THIS WEBSITE HAS BEEN REMOVED

 

 

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 This Page Last Updated:  09/29/2006 12:39:09 AM

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