National Chrysler Retirement Organization Turns 15!

by NCRO May 15, 2023

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.

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”.

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.

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.