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Local 2409 Microsite
News
RETIREES' COMMITTEE REPORT2/14/2008
Brothers- things are not looking good here. We had 9 toolmakers on voluntary lay-off for fw 6, we will also have 9 on fw 8, and 17 on fw 9. The downturn of the economy has really hurt sales. I am sure you have heard about the closing of the Bloomington Plant. I can't help but wonder if we are next. Chris is trying to get the company to offer sero's instead of the voluntary lay-offs. The company said they are looking at it. During the fw 6 LOW there was quite a bit of overtime offered to those who worked. There must be some GE brilliance at work that I don't understand.
Our brothers at Stauble are also in trouble. It looks as though the company will be sold, and they will be screwed. There is a whole lot of stuff going on there that I can't really get into here.
Everything else is lovely.
Fraternally - Ed
RETIREES' COMMITTEE REPORT
14 FEB 08
Some costs of retiring outside the US may not be apparent before people move. Federal Income Taxes are still due to the IRS if you move outside the country. Social Security Benefits and distributions from pensions, 401(k) accounts and traditional IRA's are taxable. US citizens are taxed on there worldwide income, income earned abroad. Healthcare may be a significant issue, as Medicare does not cover treatment outside the US. For more information go to www.irs.gov and download IRS publication 54 (Tax guide for US citizens and Resident Aliens Abroad.)
This has been previously reported but is worthy of review. Annualcreditreport.com provides truly free annual credit reports without subscribing to any service. Also each of the three major credit bureaus - TransUnion, Experian, and Equifax - must provide one free report every 12 months on request. You can request all three simultaneously or spread your requests through the year (i.e. one request every four months.)
Free home-inventory software helps you create a computer list of everything you own. The insurance Information Institute offers "Know Your Stuff" for PC's and Macs @ www.knowyourstuff.org.
A Fidelity Research Institute study found that a 65-year-old man has as much chance of living to 95 as dying before age 70.
Based on historical inflation trends, people who retire at age 60 are likely to experience an 80% rise in living expenses by age 80. Those who retire at age 65 will probably experience a 60% increase.
A Web-based retirement calculator is free @ www.analyzenow.com. You will find information that helps you determine when to begin taking Social Security payments, how much to allocate to different investment categories, how much you need to save for retirement and how withdrawals from your retirement accounts will affect your taxes.
Respectfully submitted,
Brad Cecil, Chairman
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Last modified: 2/18/2010
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