now fri 8:00pm
will not be online nov3
I will be raking out side
I THOUGHT THIS WAS IMPORTANT TO POST
Sent: Sunday, November 11, 2012 10:57 AM
Subject: a scam?
have you heard of anyone getting a offer from supposedly verizon, to return their lump sum payout, plus interest in exchange for an annuity called J&S annuity?
i know several people have got this offer, including me. i believe this to be a scam. it came in an official looking envelope, and has the verizon logo on the envelope and letterhead. however it has no verizon person signature. this is dangerous, because it is asking the people to sign it anyway, even if you don't want to do this.
MY REPLY TO HIS EMAIL
J&S annuity is a Joint & survivor benefit
The Plan Document describes Joint and Survivor Annuity as follows: "An annuity for the life of a Participant and Joint Annuitant with a survivor annuity for the life of the individual who survives. The joint annuity is actuarially adjusted to reflect the fact that benefits are paid to the survivor after the death of EITHER the Participant or the Joint Annuitant."
Compare that with what's in the SPD:
“Benefits will continue for another person in the event of your death. You may elect to receive an adjusted income during your life and, upon you death, 100% of this income will continue for the life of the person you designate. Alternatively, you may elect to receive an adjusted monthly income while you are both alive and then 50%, 66-2/3% of that amount will be paid to the survivor for life when either of you dies.”
Mike these annuity are things I do not like to get into. the paper you received is mostly legit and sent out by verizon
or the liberty credit union. I would like to see a copy of it So if you have a scanner please SCAN it to me or mail a copy. So I can investigate it. .....
I asked Myles about this !!
Some retirees upon leaving the company did not get the opportunity as an option for J&S annuity.
So Verizon sent this letter out to them.
You can just ignore the letter and not sign it.
Ginny, I did not get an option letter for J & S. Is this for recent retirees only?
THIS WAS ONLY FOR RETIREE LUMP SUM
FROM 2008- 2010 WHO NEVER GOT THE OFFER WHEN THEY LEFT
Did everyone get the healthcare papers from verizon
I read them carfully and it doen't matter what u pick HCN no monthly prem but u will pay on hospital and specialist on other end
or monthly prem and !00% on everything
WE GOT SCREWED
i was a tech and i can tell you we definatly got screwed
here we are retirees no raise in our pension and no matter what we pick we pay the union didn't help us any on this !!!!
We should have gotten a raise to cover this healthcare cost
Hi guys I agree with you both
the hcn plan is worst then the blue cross plan we had in 1969
at less that plan was 80/ 20
this plan is 70/30 it sinks
i was at the last retiree meeting ahd myles was telling everyone to switch to the hcn plan
but if you in the ppo plan i wouldn't switch the cost is $67.50 a month and if your over 65 it cut in half at least this way you willn't get hit with a $1000 bill from hospital stay
I am 65 and your right I am staying with the ppo plan
because i'm in and out of the hospital. My last stay the bill was
$ 9652.00 at 96% that $706.00 i would have to pay out of my pocket and if i had to pay 30 % it would be $2,895
Hey don't forget about the F#$%^k deductible you have to meet
i go to all the retiree meeting and I know Myles said that if we had to pay that he would ask the company to compensate us in our pension
I guess he thought the HCN was a no premium plan that we didnt need compen sation but we do if we are paying a percent on the other end
I see we all read the new healthcare plans
What up with the IBEW do they think because we are old we can't read
i don't know about that henry
But you should all decide what plan to choose because this are the only options you have
Also if you are not in the ppo plan now
according to the pappers they sent out they are not excepting new members into the plan so you are stuck with the HCN plan
NOW THAT REALLY PISSES ME OFF !!!!
BEND OVER AND WALK IN BACKWARD
TO THE NEXT UNION EPISODE ON HOW TO SCREW A RETIREE
What plan are you in ginny
i'm in the ppo and i to have to stay in it because i have a rare blood decease that every 2 months two pints of blood has to be drain
and i don't want to pay a $25.00 co-pay for that and exrays
i add up all the copays using last year as example and i would have paid over $3000,00 under the Hcn plan
Were as under the ppo plan would have cost me $850.00
You are telling me because I'm not in the ppo plan I'm screwed
NO, IF YOUR HOSPITAL AND ALL YOUR DOCTORS EXCEPT THE HCN PLAN YOU SHOULD BE SOMEWHAT OK
EXCEPT FOR COPAY ON BLOOD WORK AND EXRAYS WHICH ARE CUT IN HALF IF YOU ARE OVER 65
ALSO YOU WILL HAVE TO PAY A % HOSPITAL MET DEDUCTIBLE
SO IF YOU ARE ALREADY ON THE HCN PLAN GOOD LUCK
Tell us your honest opinion what do you think about the healthcare plan we were given
Not to be a cop out !!! But the way cooperate business is today
I think Myles did the best he could dealing with cooperate greed
it could have been worst
I still think that we should have gotten a raise at least $25.00
a month and be allowed in the ppo plan
that would have been the right thing to do for us retiees after all we supported the union as active employees and still do
We made Verizon what it is today they owe us that much !!!
Right on Steve
Steve is right Ginny maybe you and the other committee members should talk to Myles about that.
I quess we are putting you and the committee on the spot
I'm sure Myles peeks in every now and then, But your right we are the spoke person for all of you and I will ask him about a raise
but , you must realize it not up to him and Verizon is not likly to want to compensate the retirees
I have to go now but keep on blogging
think she was upset with us
No she not like that and i think she will ask myles
see you all !
Ginny seem to be a nice person I don't think she would get upset
I bet she calling the union now
I have to get going too
Nice talking to you
HAVE A NICE DAY !
PLEASE GO TO THIS WEB PAGE FOR A BETTER
UNDERSTANDING OF YOUR HEALTHCARE CHOICES
Not sure about the new Health Care Network,, but I'm 66 and on Medicare as I'm sure most of you are. Paying $99 a month and
having the Supplement covered isn't too bad. And Steve, I'd love
to see a C.O.L. increase but wee didn't see it in this contract. Maybe the next one ???
THANKS FOR YOUR POST
AND I TO THINK THE SUPPLEMENT COVERAGE ISN'T BAD KNOW MATTER WHAT YOU CHOOSE IF YOUR OVER 65
IF YOUR NOT OVER 65 HOPE YOU LOOK VERY CAREFULLY