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Dear Verizon Retirement Watch e-Activist,
In conjunction with Verizon's 2006 Annual Meeting of
Shareholders on May 4, we're kicking off a letter-writing
campaign to CEO Ivan Seidenberg, urging him to rescind Verizon's
decision to freeze the pensions of Verizon employees who are not
represented by a union.
The freeze is scheduled to go into effect on July 1, 2006—about 8 weeks after the shareholders meeting. Click here to tell CEO Ivan Seidenberg that it is not too late to change course and stop the freeze. As you know, this freeze will be devastating to longtime Verizon employees in their 40s and 50s. Many employees who are close to retirement will lose expected benefits of $200,000, $400,000 or more. Those expected benefits make the difference between a secure retirement future and a precarious one. Meanwhile, Verizon made $7.2 billion last year. Ivan Seidenberg received a 48 percent increase in his salary and his total compensation package is expected to be $19.4 million. Let Ivan know that this is a slap in the face of the people who helped build the company and make it profitable. Click here to stop the freeze. In Unity, Verizon Retirement Watch |
