On Jan. 1, thousands of GE retirees, employees and dependents found out they could no longer use the retiree health plans they received upon retirement from the company. GE justified the change by saying it was on trend with what other large corporations have in place and it will also save the company $3.3 billion.
This is simply unacceptable.
GE made not only a commitment, but a promise to retirees, a promise that people have planned their futures around. The unfair change is having a devastating impact on seniors who are now facing higher health care premiums and prescription costs.
The company continues to show profits and pay shareholders. To justify its actions by saying it’s consistent with what other companies are doing adds insult to injury. GE may be an industry leader in many aspects -- except when it comes to benefits for their hardworking retirees.
The hardworking men and women who dedicated decades of their lives to this company deserve nothing less than the full restoration of the pension benefits they are entitled to. GE should show that same dedication to them when they need it the most.