Wednesday, January 18, 2006

Evaluate if a class action suit is feasible

A comment by our very prolific "b-ohica" on the

http://lanl-the-real-story.blogspot.com/2006/01/retirees-keep-eyes-on-pension-moves.html

post:
____________________________________

I have just received word that the following law firm in Oakland, Ca has been asked to watch this blog where they will gather your concerns and evaluate if a class action suit is in fact feasible on behalf of employees from both national labs. These people are on the employee’s side. Please keep it that way.

GICCB was made aware of the meeting that took place in San Diego and what was to be discussed. Please do not let this stop each and everyone of you from contacting GICCB and express your concerns on just how you feel about this breech of contract on University of California’s behalf. Your message needs to come through load and clear, however it will not unless we can get all 16,000 current employees and all of its retirees involved. Remember that it isn’t over until the fat lady sings. Please do not accept defeat.

I can only assume that SPSE has asked for the names and addresses of every retiree from both LANL and LLNL from HR and requested that be notified by mail; informing them of what is going on. It is my hopes that someone has taken this for action. Any further delays may cost all of us what we are truly entitled too.

For all the LLNL employees I have one thing to say; "YOU ARE NEXT". I would encourage all of you to save your retirement by partaking in this endeavor. Please take the time contact http://www.lawyers.com/giccb/ContactUs.jsp and just say no. NOT NOW & NOT EVER

A paragraph from the UC PDF that all LLNL employees should take to heart:

------------------------------
-------------------------------------------
...a similar model further refined by the LANL experience could be used
when the Lawrence Livermore National Laboratory management contract is
put out for bid, which the DOE/NNSA have indicated will occur in
2006 or 2007.

They can be contacted at
Office Location(s)
Oakland, California
1999 Harrison Street, Suite 1600
Oakland, California 94612-3528
Telephone: 510-832-5411
Fax: 510-832-1918 URL:
http://www.lawyers.com/giccb
Info@GICCB.com


Comments:
Thank you. I have sent an email to the firm. If it were to come to it, I am very willing to fight for my 37 years of UCRS benefits/rights.

Jack Smith
LLNL Retiree
 
Just for you Jack:

It's beginning to look to me as if doing a lump sum without medical is the way to go. By doing so you can in fact take your lump sum plus all the monies that are in your 403b, and buy a "life time fixed annuity". Even if you are not 55 or 59 1/2 there are no penalties to be paid by going this route. How do I know this, well it's because I just got off the phone with Fidelity which are the ones who are handling my 403b. Note the URL and phone number below. http://personal.fidelity.com/global/search/inquira/resultsindex.shtml?question=fixed%20annunities This is exactly what the UC does with your lump sum anyway. Why not take control of your own life. My understanding is that if both of you die within the first 20 years all additional funds can be willed to whom ever you want; and they have a choice of taking the remaining funds in lump sum or monthly payment until the pots exhausted.

Interested in buying an annuity? .......800-544-4702

Please take the time to think this over. Yes you will have to get medical coverage but you can work for Walmart and get that. You'll have to have something to do anyway.

So I ask you this question. Why would you leave your money in a fund that is totally separated from the primary UCRP which was put into the hands of a corporation that's not slated to survive or even has a track record that indicates so. Now you talk about risky.
 
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