November 20, 2015
Unions to Fight GE’s Assault on Retiree Health Care
Labor unions are gearing up to fight General Electric’s (GE) plans to terminate its post-65 retiree medical plans effective January 1, 2016. This medical coverage was promised in workers’ contracts and retirees worked for decades to earn.
“It is a sad day when a highly profitable corporation like GE decides to turn its back on their retirees who gave them years of loyalty and dedication at a time when they need them most,” said Richard Fiesta, Executive Director of the Alliance. “It’s despicable, really.”
GE intends to offer retirees the opportunity to purchase coverage through a private broker exchange. Unfortunately, this will leave thousands of retirees (particularly those on life saving drugs) facing much higher drug costs.
The IUE-CWA is leading a coalition of labor unions, including the United Electrical Workers, United Auto Workers, Machinists, Steelworkers, Brotherhood of Electrical Workers, Teamsters and the Federation of Professional and Technical Engineers, that has filed a lawsuit charging that GE is violating federal labor law and the Employer Retirement Income Security Act (ERISA).