National Chrysler Retirement Organization Turns 15!
- Founded in May 2008 with goal to preserve retiree benefits, improve communication, and foster fellowship among retirees.
- Formed after certain post-retirement health care and life insurance benefits terminated.
- Created retiree communication path to Chrysler Corporate leadership.
- Instrumental in saving salaried retiree pensions from being left behind with bankrupt entity.
- Honors the Mission to: Protect pension and other benefits; Do our part to keep FCA USA LLC viable and strong Inform; Educate, Communicate, and Build camaraderie and fellowship
National Chrysler Retirement Organization works with Chrysler/FCA/Stellantis to protect your retiree pension!
- Meets regularly with Chrysler/FCA/Stellantis leadership to promote salaried retiree interests including pension plan funding.
- Promotes retiree view point on pension plan viability and retiree perspective.
- Fought to protect overpaid retirees from pension over payment claw backs.
- Advocates for increases in retiree benefits.
- Encourages Company to establish retiree communication corridors and to additionally
engage retirees through company updates.
National Chrysler Retirement Organization goes to Washington DC!
- Meets with key legislators to protect Medicare, Social Security, retiree benefits and pensions, and to lower the cost of prescription drugs.
- Joins other retiree groups including the National Retiree Legislative Network to craft and pass key retiree legislative protections.
- Successful in securing pension overpayment recoupment protections signed into law as part of The Omnibus Appropriations bill.
- Aggressively working on legislative protection in event of Corporate pension plan “de-risking”.
National Chrysler Retirement Organization explains risk of Salaried Pension “De-risking”
- The NCRO is fighting to protect retirees when plan assets are transferred to an insurance company in de-risking.
- Current defined benefit pension plan protections include those afforded by the Pension Benefit Guarantee Corporation and the Employee Retirement Security Act of 1974 (ERISA).
- Includes ongoing protection against default, by the federal Pension Benefits Guaranty Corporation (PBGC); ongoing disclosures/other fiduciary protections under the Employee Retirement Security Act of 1974 (ERISA).
- Employers “de-risk” pension obligations by transferring plan assets/liabilities to an insurance company (involuntary “annuity buy-out”), or directly onto plan participants (voluntary lump sum buy-out) and getting the pension liabilities off the books.
- Pensioners lose Federal protection and stripped of both PBGC guarantees and other ERISA protections.
- Lump sums lack both adequate disclosure and adequate funding of the plan for remaining participants.
National Chrysler Retirement Organization conducts breakfast meetings, holds seminars/webinars; published over 155 videos
- Keeps members current with guest speakers at breakfast meetings.
- Provides members with webinars and seminars on Aging, Caretaking, Social Security and other important topics.
- Provides members with health insurance and pension information, and other invaluable resource/easy to find content.
- Assists members with insurance issues.