Muscatine

Retirees insurance

Posted in: Muscatine
  • Avatar
  • kenn
  • Respected Neighbor
  • Muscatine Ia
  • 656 Posts
This is a letter to the editor of the Quad City Times that came out in the Times this morning.

Deere small print tells another story
By T. Grooms, East Moline | Sunday, October 14, 2007
14 comment(s) | Rate this article | Default | Large

On Sept. 20, Deere & Co. publicly announced changes it was making in health benefits affecting 5,000 retirees from John Deere facilities. A company spokesman made statements to the effect Deere & Co. would gain no advantage, and the changes would actually provide choices for retirees.

On the fourth page of the material sent to affected retirees, it states in small print what it did not say in its public announcement ?— the following:

?“Deere & Co. reserves the right to suspend or terminate the Plan(s); to modify the Plan(s) to provide different cost sharing between the company and participants; and to amend the Plan(s) in any respect.?”

Deere & Co. annually reminds employees that health benefits are an important and expensive part of employee total compensation. Pay and benefits comprise total compensation. We were told health insurance continued through retirement.

Worldwide accounting

standards require companies to display health benefits as a liability on the company?’s balance sheet, recognizing health benefits as an obligation the company has to the employees and retiree ?— an obligation such as a debt.

Even in the country?’s worst economic times, and even in the worst economic times in Deere & Co.?’s 170-year history, the company has not reduced health insurance benefits. In what are perhaps the company?’s most profitable years ?—with John Deere stock selling at historic highs ?— what justification other than naked greed can the company offer for this attempted grab?

I enclosed the following information as I personally know this person.

T. Grooms was the manager or supervisor of the Industrial Relations labor Department of Deere & Co for around 25 years, a salary employee not covered by Union contract.
A week or so ago Deere announced that they were changing the Health benefits for 5000 retirees.
They also did not tell you that these were salary employees.
They also did not tell you that you will have to pay 1/2 of the premiums of your insurance even though you had been retired since 1993 and these premiums were covered as part of your retirement package.
Now I ask how secure is your benefit package in your retirement ?
Just a little food for thought as I have a real good idea where Mr T.Grooms and others will be taking this as he is a Labor Attorney.


  • Avatar
  • tlou
  • Mentor
  • Muscatine, IA
  • 540 Posts
  • Respect-O-Meter: Mentor
AGAIN, ASKING politicians?

I again ask our politiciians to step up to the plate on this question! Health care...on BOTH ends of the ISSUE!
We ALL HAVE A RIGHT, A RESPONSIBILITY to ask! This isn't an issue any of us can AFFORD TO PUT OUR HEADS IN THE SAND ABOUT! What is that poem...the one someone wrote during Hitler's time? I'm paraphrasing, ''When they came for this group & that group, I held my tongue! By the time they came after me, there was noone left to speak for me!'' In the world we live in, to the companies that would employ us, it is about the ''bottom line''...the $$$ they can make! Look @ the homes & lifestyles of those who own our Muscatine businesses. It's time we all realize that they don't care how many hours we all work, (that used to be governed by our unions!). They are bringing in Union Busting Attorneys...don't believe me? Watch the next time one of the companies has a ''contract renewal coming up''. They'll make it look pretty...read closely! They don't care if we can make ends meet to support our families. We are peons...there to make them money. They can stand in a line & shake our hands & say, ''Thanks! Words don't put food on the table or a roof over our head or allow us to go to the Dr. when we/our families our ill''; at the beginning or the end our our careers! I say, take a few bucks out of your pockets...make a few of the choices we make on a daily basis...''vacation or medical bills?''
It used to be different. 25 years ago, the factory my husband worked for made sure that they rewarded & showed their employees how much their hard work was appreciated...by paying a good wage, offering good benefits...offering safety awards & incentives!, (a BLAST FROM THE PAST)! Temp workers have no ''vested interest in their company, or their co-workers. Here today, Gone tomorrow. ''Do my job to the LEAST of my abilities, (@ minimum pay), and go home. Why risk MY life, etc. for this job''?
Yes, I'm angry & bitter. I know that I'm not the only one. We are being bombarded by candidates wanting our votes. If they want MY VOTE...they HAVE TO BE WILLING to answer the very real questions I pose. Do they scare you? They SHOULD! The world isn't the way it was 30 years ago. There is progress, to be sure, but our world has taken WAY TOO MANY STEPS BACKWARDS! If we don't take our heads out of the sand, RIGHT NOW, we are doomed...our future is doomed. The haves will have, the have-nots will continue to grow.
  • Avatar
  • mil
  • Respected Neighbor
  • Muscatine, IA
  • 91 Posts
  • Respect-O-Meter: Respected Neighbor
way back when

I remember the company my Dad worked for back in the fifties. The owner knew each of us kids by name. WE got birthday cards from his boss. And a BIG round fruitcake and Five bucks for each family member for Christmas. (That is when Five bucks could more than fill up a gas tank). When Dad got hurt at home, Dad's boss came to our house and handed Mom a nice check ''for medical bills'' I remember him saying. Even though we had insurance. He kept Dad's job for Dad when he got healthy. That was loyalty. And he got loyalty back. Your lucky this day and age if the boss even knows your name or recognises that your in the same building. Let alone that you even HAVE kids.
Advertise Here!

Promote Your Business or Product for $10/mo

istockphoto_1682638-attention.jpg

For just $10/mo you can promote your business or product directly to nearby residents. Buy 12 months and save 50%!

Buynow