AT&T Legacy T Bargaining Report #18

Legacy T Bargaining Report #18

Over the weekend the Company rejected our proposal for a pension increase and made no modification to their original proposal to freeze our pensions and push all new hires into 401Ks.  They have a lot of nerve.  The Company financial report attached to the Proxy statement for the upcoming shareholders meeting shows:

Stephenson Pension Benefit Plan - Nonbargained Program:  $1,481,965 / Pension Benefit Make Up:  $6,861 / SRIP:  $2,552,134 / SERP:  $44,279,447

Stephens Pension Benefit Plan - Nonbargained Program:  $1,145,761 / Pension Benefit Make Up:  $52,609 / SRIP:  $338,018 / SERP:  $11,381,495

de la Vega Pension Benefit Plan - Mobility Program:  $157,712 / BellSouth SERP:  $15,414,455 / SERP:  $7,018,064

Stankey Pension Benefit Plan - Nonbargained Program:  $1,277,988 / SRIP:  $408,856 / SERP:  $22,319,452

But they want to attack OUR pensions and “have no interest or desire” to talk about our current Retirees. They don’t have to worry about how they will pay for their health care! It’s a disgrace!

They made a proposal to give us access to their management only wellness plan but are still looking toward massive cost shifting.

Today they rejected one of our very modest proposals, to make sure they have to discuss potential jobs in AT&T Digital Life and DirecTV (should that acquisition go through).  The majority of the day was taken up in sub-committee discussions on absence, health care and customer care issues. 

Check out our advice on how to vote on the Shareholder Meeting Proposals. We will be counting the strike vote tomorrow afternoon. 

Your bargaining Team,

Bill Bates                                                     Mary Ellen Mazzeo

Laura Unger                                                  LaNell Piercy                                                 

Lois Grimes-Patow                                         Roy Hegenbart                                               

Isa Shabazz                                                  Cindy Neumeyer

Martha Flagge