Pension Protest

Angry about the administration of their pension fund, more than 30 Southwestern Bell retirees from Missouri, Oklahoma and Texas traveled to San Antonio to speak out at the company’s annual shareholder meeting. The board tried to shut down the meeting as the retirees’ designated speaker approached the microphone, but the retirees wouldn’t stand for it. “We started hollering and we got to give our speech,” said Virgil Koechner, president of the CWA Local 6314 Retirees’ Club. Retirees have seen the value of their pensions decrease substantially in recent years while corporate managers are richly rewarded. “We want pension equity and we want something to say about how our pension is administered,” Koechner said. “Right now we have nothing to say; we’re at the mercy of the board and the CEO.” Another key goal, he said, is to stop the company from reporting pension income as operating income. “The crowd was very receptive, especially to our ladies who dressed up in centennial dresses,” he said. “We got their attention. That’s the main thing.”