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TAKE ACTION !! The Treasury has just issued proposed regulations that will legalize age discrimination in Cash Balance Plans. Write the Treasury and tell them NO to Cash Balance Plans. By law, they must accept public comments. Tell them you want a pension that will NOT decrease as you get older. Tell them you want to receive your promised pension. Tell them you want your pension protected, not reduced. Tell them there are 80 million baby boomers out there and that you vote. Tell them your pension is the most important thing to you and your family's retirement. SILENCE IS ACCEPTANCE SO WE HAVE TO PUT IT IN WRITING. You can copy and paste the letter below into your favorite editor, or click here for a printable version. Feel free to edit and add your own personal words. You can also read here one employee's letter which has some excellent information in it. Make
5 copies. Using your copies, send each to your two Senators and your Representative in Congress. Send the last one to your local paper as a letter to the editor. |
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December 30, 2002 Internal Revenue
Service Dear Sir or Madam: I strongly urge you NOT to approve the recently proposed regulations to allow pension conversions to cash balance plans without regard for the harm such a conversion can do to long-term employees. These conversions have a history of reducing benefits for older workers by 50% or more. Opening the door to corporations to allow this treatment of older workers should not be allowed. Older workers cannot make up the 20, 25 or 30 years of time they have dedicated to their employer, to make up the shortfall that they would suffer in these conversions. Older workers have already seen their future security reduced by the cancellation of retirement medical plans, and by the erosion of their 401K investments. Our government should not now allow further threats to retirement that could lead to poverty or bankruptcy in old age. I urge you to not approve these regulations, and by copy to my Senators and Representatives, ask for their support as well. Sincerely,
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