On December 5, Verizon announced that it would freeze pensions for management beginning on July 1, 2006.  This change is accompanied by further restrictions on eligibility for retiree health coverage, as well as increased future cost shifting to management retirees.

CEO Ivan Seidenberg stated in an on-line video presentation that Verizon needed to make this change  because it wanted to consolidate its benefit packages and because of its competitors do not offer retirement security.  Clearly, the lack of a guaranteed pension benefit at Verizon Wireless and MCI was too attractive for America's second largest telecommunications company to turn down.  Verizon, an $80 billion company that earned $7.8 billion in 2004, has chosen to cut benefits to the lowest common denominator, regardless of the impact of that decision on its employees. 

Not surprisingly, this announcement has caused much concern among Verizon's managers and non-represented employees - as well as among CWA members at VIS who also participate in these management plans.  CWA is working with the Pension Rights Center to fight for pensions for all and talking to first level managers about organizing.

If you know a Verizon manager who is concerned or if you want to find out more about what employees are doing in response to this unprecedented development, contact the Pension Rights Center at www.pensionrights.org/verizon.  If you want to correspond with CWA organizers by e-mail, visit http://www.cwa-union.org/about/organize/contact.asp.