Sears notified up to 90,000 of its retirees this month that it would be ending their life insurance benefits, CBS News reports.
Ron Olbrysh, the chairman of the National Association of Retired Sears Employees (NARSE), told the news agency this week that the company sent letters to eligible retirees notifying them that they would be losing their life insurance benefits on March 15.
But Olbrysh said he didn’t receive the notice until March 20.
The notice reportedly offers retirees the option to convert all or a portion of their group coverage into an individual whole life policy and cover the costs of premiums.
One of the chain’s retirees, Tom Dowd, told the Chicago Tribune that he worked for the company for three decades before retiring from his role as a human resources manager in 1998.
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8 comments:
Maybe if they would have done this years ago, they still be around.
They are sending the old retires a nice large plastic garbage bag for curb service burial. It is called a "Green Burial" so Liberals will love it.
Not surprised. Had my health ins. on my pension snatched a while back. Way of the times.
155 it's BS. The companies made a deal with the workers. They should be forced to uphold that end of the deal. Worker pensions and insurance should be the #1 creditor that is recognized in bankruptcy court.
133-Yeah, cutting pensions who've stopped the non-stop drop in same store sales and overall revenue, lol.
Yeah 2:44 it is BS they sold all of there employees (or their employee unions) a bill of goods and when the SHTF they did not have the money to fund them so they are taking away their Life Insurance policy. (Please people show me the hands of those of you who get a life insurance policy). Notice they are not taking away their pensions or health insurance policies.
So who is it that you are demanding make pay their Life Insurance Policy? is it the rich bastard behind the secrete curtain
Wait until the public workers union pensions are cut off in states like Illinois where they are so upside down that there no other way out of the mess that the dumbocrat politicians put them in.
April 1, 2019 at 2:44 PM:
With those deals, the union voted themselves right out of a job. Classic! Demand away, and go away.
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