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PENSION
  BUYOUT
      CORNER

In May 2014, Alcatel-Lucent announced its intent to offer a pension buyout to approximately 45,000 retirees and related beneficiaries in the U.S. management pension plan. In this column, the LRO will keep you up to date on what we know about the recent A-L announcement.





LRO cannot provide any advice or recommendation to a member regarding his or her acceptance or rejection of participation in the Alcatel-Lucent Retiree Lump Sum Window Program. LRO recommends that each member contact his or her own financial planner and/or tax adviser to discuss his or her specific situation, financial goals and investment strategy.


AUGUST 30,2015

There are now less than 30 days before the firm ending date of the A-L buy out offer. We continue to hear from retirees that have not yet received the offer because of Aon-Hewitt records. We have also heard from some that even after they have accepted the offer they haven’t received the written documents.

There are several actions we suggest you consider:

  1. When you call the Benefit Center record the date and time and the name (full name if they will give it) of the individual you are talking with. Do this each time you call.
  2. A number of people have been unsuccessful in getting them to call you back but it is still a good idea to ask.
  3. Document what they tell you about when you should inquire that the problem is fixed.
  4. If you are requested to send documents, we would suggest that since time is short you consider overnight mailing with a return receipt. In fact, if they are sending you something ask that it be sent over night.
  5. When you call the second or more times tell the representative the name of the individual, date, and time you spoke to previously.


LRO ISSSUES SPECIAL NEWSLETTER 7/15/15


This is an anxious time for Lucent retirees facing a major decision regarding the Alcatel-Lucent Retiree Lump-Sum Window Program, which now is upon us. With that in mind, the LRO is issuing a Pension Buyout Special Edition of our LRO Connection Newsletter, which may be accessed by clicking here.

While the LRO cannot provide individual counseling relative to acceptance or rejection of the ALU offer, the LRO has framed a series of questions or considerations that hopefully will assist retirees during this important deliberative process and supplement the package of support materials provided by Alcatel-Lucent.

Additional questions submitted by members are posted below.

We hope you will find the information in this special edition helpful, and we wish you well in your important decision process.


ALU MAILS NOTICE OF BUYOUT OFFER TO ELIGIBLE RETIREES (7/4/15)

It has now been a year since A-L announced a proposed lump sum buyout of as many as 45,000 participants in the management pension plan. They have now also included about 30,000 formerly represented participants in the non- management plan. There is one significant difference between the two offers. The formerly represented retirees may also be entitled to a one time payout of their death benefit.

The letter containing the non-management offer’s mailing began about June 24, 2015. The letter with the management offer was dated June 29, 2015 and is now arriving at the home address of those eligible to participate. It states that participation in the program is strictly voluntary. It advises that the offer is limited to those who retired after March 1, 1990 and before certain specified dates which vary by type of pension. There are also other exclusions from the offer.

Those who receive the offer have several options other than declining the offer. The first option would be a lump sum which would replace your monthly pension. For certain former employees, the option of a monthly annuity to replace your current monthly annuity will be offered. Our interpretation is that this is an annuity option to be offered within our existing Alcatel Lucent pension plan.  It is not an annuity being offered by a third party insurance company as part of an additional sponsor de-risking program initiated by Alcatel Lucent.

Included in the mailing is the Announcement of the program. Also included is a Financial and Tax Education Guide developed by Delloite to assist in understanding the financial and tax aspects of this lump sum opportunity.

Page 17 of the program contains the telephone number established for this offer. (1-866-617-7164). Online resources are also shown. The Financial and Tax Education Guide (on page 21) list the dates and location of the several group sessions. On Page 23 is a listing of the dates and locations for individual sessions. It is being suggested that you call now to schedule your appointment for these sessions.

Your actual Benefit Decision Kit should arrive in mid-July. The inclusive dates to accept the offer begin on July 20, 2015 and terminate at 11:59 PM ET on September 25, 2015.

If you believe you are eligible for this offer but did not receive the materials, you should call now the number above. If your Benefit Decision kit does not arrive by July 24 you should also call that number.

The LRO has issued a special newsletter devoted to this program. As always, we are available to you by email.


QUESTIONS ON THE BUYOUT FROM LRO MEMBERS


minterThe following are questions in addition to those in the Special Newsletter sent to us by members, and answers from Frank Minter, the LRO Pension Director:

Question. Sale of Alcatel-Lucent USA Pension Plan to an Insurance Company

Answer. This subject is one we are hearing about most often and the LRO Directors are concerned when we hear that retirees are considering accepting the lump sum offer solely because they are concerned about a possible future sale of our plan to an insurance company. The only possibility of losing our pension if a sale occurs is for the insurance company to bankrupt.

Once again we repeat that we are in no way providing financial advice as you consider your decision on the offer so let us give you certain information that you can consider as you wish.

First- we have nothing from A-L that indicates ( after the buyout ends) they plan to sell our pension plan to an insurance company. The reason we have commented on that possibility results from GM and Verizon doing exactly that following completion of their lump sum offer.

Lets look at some numbers. We will use management as the LRO has better numbers for that group/ Today, we have about 128,000 management individuals covered by our pension plan. We know that 45,000 have been offered the lump sum. Historically, 20% to 30% accept these offers, which will leave about 115,000 in the plan. At year end 2014, on a fair market value basis, our plan had $ 20 billion in assets and was funded at 108%. Since the lump sum will reduce pension liabilities at least as much as assets, the arithmetic says the remaining plan funding level has to be over 108%. If A-L decides to terminate the plan it would not be turned over to the PBGC because it is fully funded. The law calls this a "standard termination" in which the plan must purchase an annuity from an insurance company that pays your current pension. The plan must also identify the insurance company for you. If this occurs, the protection of the PBGC guarantee ends. However, each State has an arrangement that will pay you certain amounts up to a maximum if the insurance company subsequently becomes bankrupt. The total amount available should be checked in your state.

The most important factor in a possible sale of a pension plan to an insurance company is the viability of that company. There are not very many companies that could handle 115,000 retirees with monthly annuity (pension) payments and almost $ 20 billion in assets in our plan. Lets look at one such company, Prudential has $ 1.2 trillion in assets under management and has a strong financial position and would not be considered a candidate for bankruptcy.

Should we worry enough about the possible bankruptcy of this type of insurance company to accept a lump sum buyout that we might have turned down based on other factors. As we have said repeatedly, taking the buyout transfers all risk to the retiree. The risks are that you will outlive your money and also earn a sufficient return on your assets. Only you can make the decision that is best for you but the possible sale of our plan to an insurance company certainly should not be the only factor you consider because of the remote possibility that such a company will bankrupt.


Question. Death Benefit and Group Life Insurance

Answer. One of the most frequent questions we are receiving at this time concerns benefits that are available at the retiree's death. There is confusion between the Death Benefit and Group Life Insurance . They are separate benefits.

The Death Benefit has been historically paid from the pension fund and is equal to the retiree's final annual salary. That benefit for management employees was terminated in 2003 during Lucent's financial difficulties. Formerly represented retirees continue to have that benefit. If they accept the lump sum offer they must also accept a much reduced death benefit. The determination of that death benefit is recorded on a table (shown on page 5 of the Lump Sum Program ) that is based on salary ranges and ranges of ages. The amounts in the table are always less than the benefit the retiree currently is entitled to at death and appears to be less than the amount if a present value is calculated. If they do not accept the lump sum offer the death benefit equal to their final salary will be paid if they have a qualified beneficiary.

The other benefit is Group Life Insurance for which the retiree pays nothing and is also equal to the retiree final annual salary. Both former management and former represented retirees are entitled to this benefit. This amount decreases by 10% a year between the ages of 65 and 70, so that at age 70 it is 50% of final salary. This is a welfare benefit and is provided at the discretion of the Company. We were told by A-L Human Resource officers that the Trust fund which contains the assets to pay this benefit is currently sufficient to last another 6-8 years. We don't know what A-L will do at that time. The Group Life Insurance Trust Fund was also used by Lucent in 2004 to pay other costs with permission obtained from the IRS If your group life insurance benefit exceeds $ 50,000 you receive a W2 each year for the tax on the excess over $50,000 which you will include in your tax return each year.


Questions and Answers continued in next column at right.

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Over 500 Retirees Attend LRO Naperville Meeting

Chicago area Lucent retirees were out in force to attend the meeting with LRO leaders on Tuesday, June 23rd. The group discussed healthare and pension issues and the upcoming pension buyout. Pictures and slides from the event are below. (for full screen click upper right corner).

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Slide Presentations from Chicago Area Meeting 6/23/15

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Joe Dombrowsky - Welcome

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Bob Martina - Legislative

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Ron Hoth - Healthcare

duscher

Frank Minter - Pensions

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Frank Minter - Lump Sum


WEBSITE FEATURES

Video presentations from the New Jersey meetings

We videotaped the presentations at the meeting in New Jersey in October 2104. They are still available below. Up to date presentations are shown in the slides above.

Intsroductions & Agenda - Joe Dombrosky
Grassroots support - Bob Martina
Healthcare and Lucent benefits - Ron Hoth
Pensions and the coming buyout - Frank Minter and Al Duscher
Q & A - Frank Minter and Al Duscher


THE HISTORY CORNER

Read all about the Eastland disaster at the History Corner under the Hawthorne Works tab.

History Corner pieces in our recent newsletters (THE LRO CONNECTION) can be accessed at any time by clicking on the HISTORY CORNER tab on the navigation bar.. We plan to continue with additional pieces on WECO, BTL, and TELETYPE and persons of note. If you have historical information, send to Gary Reichow at greichow@hotmail.com.


Information on the Passing of Retirees

Under the "In Memoriam" tab located at the top of this page, the LRO lists the submitted names of recently deceased individuals and, where possible, provides a linkage to an official obituary. Information required and the form to list an individual are contained on the "In Memoriam" page. We encourage family members and friends to take advantage of this service.


SPECIAL NOTICES TO MEMBERS

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IRS AMENDS RULES REGARDING USE OF LUMP SUM PAYMENTS TO REPLACE LIFETIME INCOME BEING RECEIVED BY RETIREES UNDER DEFINED BENEFIT PENSION PLANS. (july 12,2015)

The IRS on July 9 issued Notice Notice 2015-49 notifying taxpayers of the intent to amend the required minimum distribution regulations under 401(a)(9) of the Internal Revenue Code to address the use of lump-sum payments to replace annuity payments being paid by a qualified defined benefit pension plan. The regulations as amended will provide that qualified defined benefit plans generally are not permitted to replace any joint and survivor, single life, or other annuity currently being paid with a lump-sum payment or other accelerated form of distribution.

The Treasury Department and the IRS intend that these amendments to the regulations will apply as of July 9, 2015, except with respect to certain accelerations of annuity payments.  The Alcatel-Lucent Retiree Lump-Sum Window Program pre-dates this notice and therefore qualifies as an exception to this ruling.

This change in position is likely tied to government concerns that retirees are ill-prepared to manage lump-sum distributions and the view that continued lifetime pension payments are a critical part of an individual’s financial security during the retirement  years. This risk issue must be factored into any decision by retirees to accept a lump-sum offer. 

Click here to access the Notice 2015-49.


ANNUAL FUNDING NOTICE (AFN)

You should have received the AFN which reports the status of the funding of our management pension plan. You will observe that our plan is well funded and protected by PBGC guarantees, and you should have no concern about the safety of your pension. As you review his year’s report there are several items to which we should like to call your attention. (click here for LRO's comments)


More Questions & Answers on Buyout

Question. Are supplemental pensions (non-qualified payments to some management retirees) included in the lump sum amount?

Answer. No. Only the amount of the pension paid from the pension plan is used in the calculation of the lump sum.


Question. How can a retiree get the amount included in the lump sum based on his life expectancy?

Answer. A-L has suggested that this question should be asked at the Deloitte sessions.


Question. We are receiving a number of questions about the role of the PBGC and about plan terminations.

Answer. We have posted on our web site this year's Annual Funding Notice (AFN) you received in May which has the same explanation about the role of the PBGC and Termination of pension plans as it has for several years. It is "boilerplate" but explains well. If after reviewing the AFN you still have questions, please get back to us.


Question. Do the funds to pay those who accept the buyout come out of the pension plan funds and does that have the potential of draining to unacceptable levels the funds for those remaining in the plan?

Answer. Pension fund assets are used to pay those who accept the buyout. At the same time an equal amount of liabilities are subtracted from the fund. Since or pension plan is fully funded, there is no funding impact from this transaction.


Question. I have a question regarding page 10 of the Retiree Lump-Sum Window Program COMPANY'S RIGHT TO AMEND OR TERMINATE THE PLAN. Does this mean they can cancel our retirement pension?

Answer. They have always had the right to amend or terminate the plan. Look at the Annual Funding Notice you receive each year for the discussion about this.


RETIREE NEWS

Unclaimed assets: Are you missing money?
By Kelli B. Grant , CNBC; USA TODAY ~ Aug 29, 2015

Using Social Security online: A real time-saver
By Wayne Fourman, AdviceIQ; USA TODAY ~ Aug 29, 2015

Survey: 4 in 5 health firms hit by hacks
By Katie Bo Williams; The Hill ~ Aug 28, 2015

Wall Street opposes White House crackdown on financial advisers
By Wyatt Andrews; CBS News ~ Aug 28, 2015

Researchers found more seniors working part-time jobs
By Derrion Henderson; KFVS12 ~ Aug 28, 2015

Nokia's China assets to become Nokia Shanghai Bell
By Mary Lennighan; Total Telecom ~ Aug 28, 2015

HOW ACCURATE ARE MEDICARE’S NURSING HOME RATINGS?
By Michael Williamson; Bloomberg BNA ~ Aug 27, 2015

Medicare’s Maze - How to Maximize Benefits
By Casey Dowd; Fox Business ~ Aug 27, 2015

Woman's Efforts to Change Will Without Professional Assistance Backfire
ElderLawAnswers ~ Aug 27, 2015

French Telecom Tycoon Drahi to Hire Alcatel-Lucent CEO Combes for Top Jobs
By Inti Landauro; The Wall Street Journal ~ Aug 27, 2015

Actuaries think more companies will shift to hybrid plans — survey
By Rob Kozlowski; Pensions & Investments ~ Aug 26, 2015

New Medicare rule may make it harder for amputees to get prosthetics
By Stephen Feller; United Press International ~ Aug 26, 2015

Retirees Should Know the Difference Between Fiduciary and Suitability Standards When Hiring a Financial Advisor
By “NewsbrkChi”; CNN ~ Aug 26, 2015

Can Downsizing Save Your Retirement?
By Ashlea Ebeling; Forbes ~ Aug 26, 2015

Retirees are Discovering the “Buy-it-Yourself” Pension Option of Fixed Indexed Annuities
By “jdesmarais”; CNN ~ Aug 25, 2015

Obamacare Gives Big Windfall To Insurance Companies As Quality of Healthcare Declines
By David Williams; The Daily Caller ~ Aug 24, 2015

More than a Quarter of Employers Expected to Face ‘Cadillac Tax’
By Emily Chasan; The Wall Street Journal ~ Aug 25, 2015

Giant new Obamacare tax to hit Americans with more massive increases scheduled
By Jack Dennis; Examiner ~ Aug 25, 2015

Retirees need to fact-check Social Security advice
By Liz Weston; Reuters ~ Aug 25, 2015

Despite stock fall, financial health of many is still solid
By Josh Boak; The Associated Press ~ Aug 25, 2015

Skipping blood pressure pills may raise heart failure risk
By Lisa Rapaport; Reuters ~ Aug 25, 2015

Koch Brothers’ Health Law Opposition Set For Long Fight
From KHN Morning Briefing; Kaiser Health News ~ Aug 24, 2015

Obama and colleagues to blame for high cost of prescription drugs
By Brendan Williams; The Hill ~ Aug 24, 2015

Social Security is not an anti-poverty program
By Brenton Smith; The Hill ~ Aug 24, 2015

Tardy tax filers risk loss of health care subsidies
By Ricardo Alonso-Zaldivar; The Associated Press ~ Aug 24, 2015

Doctor Demand Undercuts Trump, GOP Obamacare Job Killer Theories
From Bruce Japsen; Forbes ~ Aug 23, 2015

GOP struggles to replace ObamaCare without losing voters
By Sarah Ferris ; The Hill ~ Aug 23, 2015

The Retirement Gamble Documentaries
PBS Frontline – August 2015

How to drawdown retirement assets: the strategies
By Kenn Tacchino; MarketWatch ~ Aug 22, 2015

Don’t let grown children derail your retirement
By Rodney Brooks; The Washington Post ~ Aug 22, 2015

Retirement issues worth worrying about
From “Business Columnists”; The Middletown Press ~ Aug 22, 2015

Study: 2 Million Exchange Enrollees Miss Out On Cost-Sharing Assistance
By Michelle Andrews; Kaiser Health News ~ Aug 21, 2015

Savers Oppose ‘Fiduciary Rule’ Obama Labor Department Claims Will ‘Protect’ Them
By John Berlau; The American Spectator ~ Aug 21, 2015

Drug costs dislodge Obamacare as GOP voters' top health care concern
By Brett Norman; Politico ~ Aug 20, 2015

Regulators sue 2 companies making loans against pensions
By Marcy Gordon; The Associated Press ~ Aug 20, 2015

Opinion: Fixing The Fiduciary Standard Rule Proposal To Truly Protect Investors
From Daniel L. Goodwin; The Daily Caller ~ Aug 20, 2015

Few Older Americans Relying on Home Equity for Retirement
By Jason Oliva; ReverseMortgageDaily ~ Aug 20, 2015

Would you consider an hourly-wage job in retirement?
By Anne Fisher; Fortune ~ Aug 20, 2015

Health care costs can derail retirement plans
By Mary Beth Franklin; InvestmentNews ~ Aug 19, 2015

Will Medicare costs bomb you in 2016?
By Jennie L. Phipps; Bankrate ~ Aug 19, 2015

Alcatel-Lucent wins Telefónica IP network project
By Scott Bicheno; Telecoms ~ Aug 19, 2015

Yelp Adds Hospital, Nursing Home Reviews
From Christine Kern; Health IT Outcomes ~ Aug 18, 2015

Walker shakes up GOP field with plan to replace ObamaCare
By Sarah Ferris & Peter Sullivan; The Hill ~ Aug 18, 2015

A ‘Success’? The Jury’s Still Out On Obamacare
From Jim Huffman; The Daily Caller ~ Aug 18, 2015

Don't fall for misleading annuity advertisements
By Stan Haithcock; MarketWatch ~ Aug 18, 2015

Americans Who Have Advisors Are More Likely To Diversify Holdings
By Linda Koco; InsuranceNewsnet ~ Aug 18, 2015

Group: Retirement regs to cost $3.9B to implement
By Kevin Cirilli; The Hill ~ Aug 18, 2015

HHS Auditor Finds Most Of The Health Law’s Insurance Co-Ops Are Losing Money
From KHN Morning Briefing; Kaiser Health News ~ Aug 17, 2015

Providers opting out of Medicare bundled payments
By Julie Henry; Healthcare Dive ~ Aug 17, 2015

Fears Of Social Security's Demise Unfounded, Advisors Say
By Christopher Robbins; Financial Advisor ~ Aug 17, 2015

Failure of Nokia, ALU Deal Could Carry Heavy Fees
By Diana Goovaerts; Wireless Week ~ Aug 17, 2015

New Obamacare Legal Challenge Heading for the Supreme Court
James A. Dorn, Newsweek – Aug 14, 2015

Republican: Congress 'fully committed' to ObamaCare repeal
By Mark Hensch, The Hill – Aug 15, 2015

Editorial: Worn-out rule: Medicare should rethink its 3-day hospital stay
Editorial Board, Pittsburg Post-Gazette – Aug 14, 2015

Celebrate Social Security, Don't Cut It
By Mykle Ann Mora, Huffington Post – Aug 14, 2015

On Social Security's 80th birthday, a dangerous leadership vacuum
By Michael Hiltzik, Los Angles Times – Aug 14, 2015

Business Leaders, GOP Question HHS’ Change On Families’ Out-Of-Pocket Limits
By Michelle Andrews; Kaiser Health News ~ Aug 14, 2015

Don’t leave working Americans in the dark on retirement savings
By Rep. Earl L. “Buddy” Carter (R-Ga.) ; The Hill ~ Aug 14, 2015

Alcatel-Lucent announces further step towards proposed combination with Nokia with filing by Nokia of preliminary draft of registration statement on Form F-4 with SEC
Alcatel-Lucent Press Office

How health insurer mergers could boost care management programs
By Leslie Small: FierceHealthPayer ~ Aug 13, 2015

More Than Half of Americans Think Social Security Is Doomed
By Daniel White; TIME ~ Aug 13, 2015

Restoring Solvency to the Social Security Retirement Program
From Tax Foundation; Forbes ~ Aug 13, 2015

Opponents of Tougher Rules on Retirement Advice Roll Out TV Ads
By Victoria McGrane; The Wall Street Journal ~ Aug 13, 2015

How to Decide Whether to Pay Off Your Mortgage
From Ted Jenkin; The Wall Street Journal ~ Aug 13, 2015

Alcatel-Lucent To Deploy Rapport For China Mobile’s VoLTE
By TA Staff; TeleAnalysis ~ Aug 13, 2015

Coming soon to a screen near you: Doctors
By Beth Pinsker; Reuters ~ Aug 12, 2015

Busted: The Liberal Claim You're Too Stupid To Make Health Care Decisions
From Merrill Matthews; Forbes ~ Aug 12, 2015

Like A 1965 Ford Mustang, Medicare Needs a Redesign
From Howard Gleckman; Forbes ~ Aug 12, 2015

Don’t be too generous with your retirement cash
By Elizabeth O'Brien; MarketWatch ~ Aug 12, 2015

IRS may never recoup $350 million in Obamacare tax credit overpayments
By Tom Howell Jr.; The Washington Times ~ Aug 11, 2015

ObamaCare to fund nearly 300 new community health centers
By Sarah Ferris; The Hill ~ Aug 11, 2015

House GOP Looks Ahead to Huge Medicare Overhaul in 2016
By Dylan Scott; National Journal ~ Aug 11, 2015

Lawmakers Raise Concerns Over Tighter Standards for Retirement Advice
By Victoria McGrane; The Wall Street Journal ~ Aug 11, 2015

Deloitte: Most DC plans are confident in providers' cybersecurity policies
By Robert Steyer; Pensions & Investments ~ Aug 11, 2015

Editorial: A debate over U.S. pharmaceuticals is snagging the Trans-Pacific Partnership deal
Editorial Board – Washington Post – Aug 10, 2015

Audit: Not all healthcare customers fully vetted by HealthCare.gov
By Sarah Ferris; The Hill ~ Aug 10, 2015

New IRS Guidance Suggests Obamacare 40% Cadillac Tax Could Get Even Worse
From Robert W. Wood; Forbes ~ Aug 10, 2015

Everybody Has To Pay This New Obamacare Tax
By Richard Pollock ; The Daily Caller ~ Aug 10, 2015

Retirees Stung by ‘Universal Life’ Cost
By Leslie Scism; The Wall Street Journal ~ Aug 09, 2015

Alcatel-Lucent’s Rapport™ communications software to enable China Mobile to launch VoLTE services
Alcatel-Lucent Press Office

Things to know about Social Security's disability crisis
By Stephen Ohlemacher; The Associated Press ~ Aug 09, 2015

Social Security at 80: Modest changes could save program
By Stephen Ohlemacher; The Associated Press ~ Aug 09, 2015

Medicare, Reversing Itself, Will Pay More for an Expensive New Cancer Drug
By Robert Pear; The New York Times ~ Aug 08, 2015

Social Security Matters Aims to Answer Most Benefit Questions
By “sgonzalez”; Wall Street Hedge ~ Aug 08, 2015

How Much Do We Owe? $72 Trillion And Counting
From John C. Goodman; Forbes ~ Aug 07, 2015

How To Use An Index Fund For Retirement
From Mitch Tuchman; Forbes ~ Aug 07, 2015

DOL’s fiduciary rule: There’s still time to get it right
By David Blass; The Hill ~ Aug 07, 2015

Q3 Earnings of $0.04 Expected for Alcatel Lucent (NYSE:ALU)
From Markets Staff; Markets Daily ~ Aug 07, 2015

Does expansion of coverage actually cut healthcare costs?
By Dori Zweig; FierceHealthPayer ~ Aug 06, 2015

McCaskill, Democrats slam Obama's financial adviser regs
By Kevin Cirilli; The Hill ~ Aug 06, 2015

McConnell: ObamaCare repeal likely to be included in fast-track budget process
By Alexander Bolton; The Hill ~ Aug 06, 2015

Bad news on cost of living raises for Social Security
By Mark Miller; Reuters ~ Aug 06, 2015

There’s a glimmer of hope that the retirement system isn’t broken for good
By Howard Gold; MarketWatch ~ Aug 06, 2015

Alcatel-Lucent pays $10 million to Costa Rica's ICE over old bribery scandal
By Richard Chirgwin; The Register ~ Aug 06, 2015

Yelp adds Medicare data to hospital reviews
By Hope King; CNN ~ Aug 05, 2015

CDC: Coordination could cut drug-resistant infections by half
By Stephen Feller; United Press International ~ Aug 05, 2015

Do You Have A Transportation Plan For Retirement?
From Liza Kaufman Hogan, NA; Forbes ~ Aug 05, 2015

4 questions to consider before investing with a robo adviser
By Alex Veiga,  AP ; The Washington Post ~ Aug 05, 2015

Health Law Reduces Out-Of-Pocket Expenses, But Medical Costs Can Still Be Overwhelming
From KHN Morning Briefing; Kaiser Health News ~ Aug 04, 2015

Obama Administration Refuses To Identify Troubled Healthcare Co-Ops
By Richard Pollock; The Daily Caller ~ Aug 03, 2015

Tax filing problems could jeopardize health law aid for 1.8M
By Ricardo Alonso-Zaldivar; The Associated Press ~ Aug 04, 2015

Cawley Partners starts Alcatel-Lucent's new regional headquarters in Plano
By Candace Carlisle, Dallas Business Journal – Aug. 3, 2015

My Wife's Losing Her Obamacare Coverage Because The Insurer Lost $400 Million
From Merrill Matthews; Forbes ~ Aug 03, 2015

Obama’s Top Health Care Nominee Was Once Embroiled in Medical Fraud Case
By Richard Pollock; The Daily Caller ~ Aug 02, 2015

GOP senators press Labor to issue new rules for financial advisers
By Kevin Cirilli; The Hill ~ Aug 03, 2015

Social Security cost-of-living adjustment unlikely for 2016
By Mary Beth Franklin; InvestmentNews ~ Aug 03, 2015

Alcatel-Lucent: 5GNOW to move past OFDM in 5G as a way to encourage IoT
By Mike Dano: FierceWirelessTech ~ Aug 03, 2015

How to plug Social Security tax drain and keep more money
From Russ Wiles, The Arizona Republic ; USA TODAY ~ Aug 01, 2015

Medicare is part of the solution, not the problem
By Mark Miller; Reuters ~ Jul 30, 2015

HHS: More competition on insurance exchanges curbed premium rise
By Lena H. Sun; The Washington Post ~ Jul 30, 2015

Government-Sponsored Programs Make Up 52% Of What We Spend On Healthcare
From Everette James & Meredith Hughes; Forbes ~ Jul 30, 2015

Health law's nonprofit insurance co-ops awash in red ink
By Ricardo Alonso-Zaldivar; The Associated Press ~ Jul 30, 2015

Highway bill gives overfunded DB plans some options
By Hazel Bradford; Pensions & Investments ~ Jul 30, 2015

Alcatel-Lucent CEO Combes to step down Sept. 1
By Phil Goldstein; FierceWireless ~ Jul 30, 2015

Nokia, Alcatel-Lucent post strong results as merger approaches
By Leila Abboud d Jussi Rosendahl; Reuters ~ Jul 30, 2015

Alcatel-Lucent Reports Q2 2015 Results
Alcatel-Lucent Press Office

Alcatel-Lucent announces governance structure to prepare company for proposed combination with Nokia
Alcatel-Lucent Press Office

As Medicare and Medicaid Turn 50, Use of Private Health Plans Surges
By Robert Pear; The New York Times ~ Jul 29, 2015


Medicare drug premiums expected to remain flat
By Robert King; Washington Examiner ~ Jul 29, 2015

U.S. Health-Spending Growth Jumped to 5.5% in 2014
By Louise Radnofsky; The Wall Street Journal ~ Jul 28, 2015

Healthcare improving for older Americans
By Andrew M. Seaman; Reuters ~ Jul 28, 2015

Four Things That Will Change Healthcare As We Know It
By Bryan Borzykowski; Forbes ~ Jul 28, 2015

PBGC proposes limiting filing waivers for underfunded plans
By Nick Thornton; BenefitsPro ~ Jul 28, 2015

Nokia and Alcatel-Lucent Needed to Merge to Compete
From Electronics360 News Desk; IHS Electronics 360 ~ Jul 28, 2015

Alcatel-Lucent and Quintillion Subsea Holdings to build undersea cable system connecting six communities along the North Slope of Alaska
Alcatel-Lucent Press Office

IRS deepens focus on lifetime income with lump-sum ban
By Hazel Bradford, Pensions & Investments – July 27, 2015

GOP senator offers deal on ObamaCare
By Jordain Carney; The Hill ~ Jul 27, 2015

Medical bills sometimes contain errors. Here’s how to handle them.
By Consumer Reports; The Washington Post ~ Jul 27, 2015

DOL fiduciary proposal elicits torrent of comments
By Hazel Bradford; Pensions & Investments ~ Jul 27, 2015

Alcatel-Lucent's Combes indicates strong pressure to speed up 5G development
By Phil Goldstein; FierceWireless ~ Jul 27, 2015

Senate's ObamaCare repeal effort falls short
By Sarah Ferris ; The Hill ~ Jul 26, 2015

State health insurance markets struggle with cost challenges
By Ricardo Alonso-Zaldivar; The Associated Press ~ Jul 26, 2015

Help Your Grandkids Prosper With These 3 Techniques
From Rob Russell; Forbes ~ Jul 26, 2015

7 steps to a financially secure retirement
By Nanci Hellmich; USA TODAY ~ Jul 25, 2015

Can Alcatel-Lucent and Nokia Earnings Change the Negative Merger Bias?
By Jon C. Ogg; 24/7 Wall St. ~ Jul 26, 2015

U.S. health insurer mergers to speed industry deals: experts
By Deena Beasley & Kylie Gumpert; Reuters ~ Jul 24, 2015

Week ahead: Senate sets up ObamaCare vote
By Peter Sullivan; The Hill ~ Jul 24, 2015

Why Is ObamaCare Punishing Companies That Try To Make Health Care Affordable?
Investor’s Business Daily ~ Jul 24, 2015

Seniors Are Receiving Far More In Medicare Benefits Than They Pay In Taxes
From Grace-Marie Turner; Forbes ~ Jul 24, 2015

Retirement Plans: Would Proposed New Rules Soak You?
By Paul Katzeff; Investor’s Business Daily ~ Jul 24, 2015

Alcatel-Lucent CEO Says Nokia Deal Could Close Earlier Than Planned
By Ina Fried; Re/code ~ Jul 24, 2015

EU clears Nokia's acquisition of Alcatel-Lucent
By Philip Blenkinsop; Reuters ~ Jul 24, 2015

European Commission approves Nokia's proposed acquisition of Alcatel-Lucent
Alcatel-Lucent Press Office

Doctors Object to High Cancer-Drug Prices
By Jeanne Whalen, Wall Street Journal – July 23, 2015

Will Health Insurer Mega-mergers Cost You More?
By Suelain Moy; The Fiscal Times ~ Jul 23, 2015

Opinion: Drug importation is still a dangerous idea
By Sally C. Pipes; The Hill ~ Jul 23, 2015

Separating fiction and facts in the conflicted-advice debate
By Joseph C. Peiffer; The Hill ~ Jul 23, 2015

Economists want you to stop borrowing from your 401(k)
By Beth Pinsker; Reuters ~ Jul 23, 2015

5 things from annual check-up for Social Security, Medicare
By Ricardo Alonso-Zaldivar & Stephen Ohlemacher; The Associated Press ~ Jul 23, 2015

How Uncle Sam plans to cheat Granny out of health care
By Betsy McCaughey, New York Post, July 22, 2015

Main fund for Medicare program to run out of money in 2030: trustees
By Jason Lange; Reuters ~ Jul 22, 2015

What Happens If the Social Security Trust Fund Runs Out in 2O34?
By Pat Regnier; Money ~ Jul 22, 2015

Report: Social Security disability fund to run dry next year
By Stephen Ohlemacher & Ricardo Alonso-Zaldivar; The Associated Press ~ Jul 22, 2015

House Democrats back DOL on fiduciary rule
By Hazel Bradford; Pensions & Investments ~ Jul 22, 2015

McCarthy: No rush to repeal ObamaCare by reconciliation deadline
By Sarah Ferris; The Hill ~ Jul 21, 2015

Washington’s big bet on value-based care
By Clay Richards; The Hill ~ Jul 21, 2015

Why you shouldn't Google your symptoms
By Dan Cook; BenefitsPro ~ Jul 21, 2015

Feds Say 7.5M Paid An Average Penalty Of $200 For Not Having Health Insurance
By Phil Galewitz; Kaiser Health News ~ Jul 21, 2015

Alcatel-Lucent + Nokia
By Juan Pedro Tomáso; RCR Wireless News ~ Jul 21, 2015

Surprise! That Urgent Care Center May Send You A Big Bill (Just Like The ER)
By Julie Appleby; Kaiser Health News ~ Jul 20, 2015

Obama pushes to extend gun background checks to Social Security
By Alan Zarembo; Los Angeles Times ~ Jul 18, 2015

Spotlight falls on O-Care fraud
By Peter Sullivan; The Hill ~ Jul 19, 2015

Justice Roberts' ObamaCare ruling could be boon for congressional Republicans
By Chad Pergram; Fox News ~ Jul 19, 2015

Americans want Medicare to help negotiate down drug prices -poll
By Kylie Gumpert; Reuters ~ Jul 17, 2015

Obama’s Secretive Gun Ban for Social Security Beneficiaries
By AWR Hawkins; Breitbart ~ Jul 18, 2015

Medicare's Biggest Flaw Could Have a Simple Solution
By Dan Caplinger, TMF; Fox Business ~ Jul 18, 2015

Should you have gold in your IRA?
By Bill Bischoff; MarketWatch ~ Jul 18, 2015

WSJ: ObamaCare sticker shock will get worse in years to come, too
By Ed Morrissey; Hot Air ~ Jul 17, 2015

Americans deserve better ObamaCare oversight
By Hadley Heath Manning; The Hill ~ Jul 17, 2015

Many Americans Do Not Get Recommended Preventive Services
By Laurie Barclay, MD; Medscape Medical; News ~ Jul 17, 2015

House Dems: White House pushing Big Pharma agenda in trade deal
By Sarah Ferris; The Hill ~ Jul 17, 2015 - 07/17/15 12:05 PM EDT

ObamaCare's Mandate Penalty Tax Brings In 40% Less Than Expected
By John Merline; Investor’s Business Daily ~ Jul 16, 2015

This Is How Easy It Is to Scam Obamacare
Federal auditors duped healthcare.gov 11 out of 12 times

By John Tozzi; Bloomberg ~ Jul 16, 2015

Democrats decry undercover probe of HealthCare.gov
By Ricardo Alonso-Zaldivar; The Associated Press ~ Jul 16, 2015

More Democrats are getting health insurance, thanks to Obamacare. Why are Republicans staying away?
By Michael Tesler; The Washington Post ~ Jul 16, 2015

What Are the Chances You'll Need Long-Term Care And How Much Will It Cost?
By Howard Gleckman; Forbes ~ Jul 16, 2015

Former Medicare chief to head health insurance lobby AHIP
By Anna Palmer & Paul Demko; Politico ~ Jul 15, 2015

Probe: Bogus enrollees kept getting 'Obamacare'
By Ricardo Alonso-Zaldivar; The Associated Press ~ Jul 15, 2015

Fewer choices of doctors under ObamaCare, study finds
By Peter Sullivan; The Hill ~ Jul 15, 2015

Taxpayer service hits new low at IRS as 'Obamacare' kicks in
By Stephen Ohlemacher; The Associated Press ~ Jul 15, 2015

The IRS’s Ill-Gotten Gains
From “Review & Outlook”; The Wall Street Journal ~ Jul 15, 2015

Mitch McConnell hints at fast-track procedure for Obamacare repeal
By Seung Min Kim &d Jennifer Haberkorn; Politico ~ Jul 14, 2015

AlcaLu Deal Makes Us 'More Complete' Than Ericsson, Says Nokia CTO
By Iain Morris; Light Reading ~ Jul 14, 2015

Alcatel-Lucent and China Mobile conduct industry-first ‘live’ field trial of a virtualized radio access network
Alcatel-Lucent Press Office

Alcatel-Lucent achieves distance record for undersea data transmission over more than 10,000 km using unique 300G technology
Alcatel-Lucent Press Office

[Nuage Networks Press Release] China Mobile deploys Nuage Networks SDN technology for DevOps private cloud
Alcatel-Lucent Press Office

The Supreme Court Has Made Obamacare The Defining Issue Of 2016
From Sally Pipes; Forbes ~ Jul 13, 2015

Overnight Healthcare: K Street launches push against 'Cadillac Tax'
By Peter Sullivan; The Hill ~ Jul 13, 2015

Obamacare Chief Nominee Pounded On Conflicts Of Interest
By Richard Pollock; The Daily Caller ~ Jul 12, 2015

Obama Wants More State Laws to Make Retirement Saving Easier
By Gardiner Harris; The New York Times ~ Jul 13, 2015

Democrats Call for Major Change in Social Security
By Rob Garver; The Fiscal Times ~ Jul 13, 2015

IRS Changes Rules on Lump Sum Window Programs
By B. David Joffe; JDSupra ~ Jul 13, 2015

White House Conference on Aging: Focus on the value of research
By Susan Peschin; The Hill ~ Jul 12, 2015

Retirees: A growing economic force in the West
By Megan Lawson, Ph.D. ; The Hill ~ Jul 12, 2015

IRS Shuts the Door on Lump Sum Windows for Retirees
Groom Law Group, July 10, 2015

Poll: ObamaCare support ticks up
By Peter Sullivan; The Hill ~ Jul 10, 2015

Modern doctors' house call: Skype chat and fast diagnosis
From New York Times; Houston Chronicle ~ Jul 11, 2015

Making Decisions on Elder Housing May Take a Team Effort
By John F. Wasik; The New York Times ~ Jul 10, 2015

House approves medical cures bill in 344-77 vote
By Peter Sullivan & Sarah Ferris; The Hill ~ Jul 10, 2015

Ryan: GOP planning to use reconciliation ‘to go after ObamaCare’
By Sarah Ferris; The Hill ~ Jul 10, 2015

Obama nominates new Medicare chief, sparking ObamaCare fight
By Peter Sullivan; The Hill ~ Jul 09, 2015

U.S. proposes bundling some Medicare knee, hip replacement payments
By Deena Beasley; Reuters ~ Jul 09, 2015

Poll: Sandwich generation worried about own long-term care
By Lauran Neergaard; The Associated Press ~ Jul 09, 2015

New ways to pay for long-term healthcare
By Elizabeth O'Brien; MarketWatch ~ Jul 09, 2015

It’s follow the leader for corporate health strategies
By Dan Cook; BenefitsPro ~ Jul 09, 2015

How Liberals and Conservatives Are Working Together To Improve Long-Term Care
From Howard Gleckman; Forbes ~ Jul 09, 2015

Creating a new paradigm in pain care for the elderly
By Kenneth Thorpe, PhD; The Hill ~ Jul 09, 2015

US: More than 21 million affected by government data breach
By Jack Gillum & Josh Lederman; The Associated Press ~ Jul 09, 2015

Bell Labs Plugs in to the Network
Storied lab is back on track, president says

By Jessica Lipsky; EE Times ~ Jul 09, 2015

Medicare to cover end-of-life counseling
By Matt Sedensky & Ricardo Alonso-Zaldivar; The Associated Press ~ Jul 08, 2015

6 best part-time jobs for retirees
By Catey Hill; MarketWatch ~ Jul 08, 2015

AlcaLu, Telefonica build on NFV agreement
By Richard Handford; Mobile World Live ~ Jul 08, 2015

The Coming Shock in Health-Care Cost Increases
By Ezekiel Emanuel & Topher Spiro; The Wall Street Journal ~ Jul 07, 2015

Study: Out-of-pocket health costs rose slightly last year
By Sarah Ferris; The Hill ~ Jul 07, 2015

Overnight Healthcare: GOP pounces on healthcare mergers
By Sarah Ferris & Peter Sullivan; The Hill ~ Jul 07, 2015

Wireless will replace wires, says Bells Labs chief
By Richard Wilson; Electronics Weekly ~ Jul 07, 2015

An overlooked fact about Social Security claiming strategies
By Brenton Smith, LifeHealthPro – July 6, 2015

Q&A: As Obama health law survives, GOP split over next move
By Alan Fram; The Associated Press ~ Jul 06, 2015

More Evidence Of Death Spirals Ahead
By John C. Goodman; Forbes ~ Jul 06, 2015

With Merging of Insurers, Questions for Patients About Costs and Innovation
By Reed Abelson; The New York Times ~ Jul 06, 2015

Audit: Doctors are overprescribing drugs to get Medicare cash
By Sarah Ferris; The Hill ~ Jul 06, 2015

How new drugs helping millions of Americans live longer are also making them go broke
By Ana Swanson; The Washington Post ~ Jul 04, 2015

Health Insurers Seek 54 Percent Obamacare Rate Hikes
By Sandy Fitzgerald; Newsmax ~ Jul 04, 2015

What the Supreme Court can’t change about the Affordable Care Act
By Nathan Nascimento; The Hill ~ Jul 04, 2015

Obamacare Prices Could Rise If Blue Cross Plans Face More Competition
From Bruce Japsen; Forbes ~ Jul 03, 2015

McConnell: ObamaCare to blame for health care consolidation
By Ben Kamisar; The Hill ~ Jul 03, 2015

Three Challenges Impacting the Future of Obamacare
From Bill Frist; Forbes ~ Jul 03, 2015

Clash over ObamaCare, use of executive power intensifies
By Peter Sullivan; The Hill ~ Jul 02, 2015

After Court Victory, Obama Asks GOP To Work With Him To Improve Health Care
By Mary Agnes Carey; Kaiser Health News ~ Jul 01, 2015

IRS To Allow Do-Overs For Some Estates
By Ashlea Ebeling; Forbes ~ Jul 02, 2015

Alcatel Lucent signs deals worth 1.4 bln euros with Chinese firms
By Julien Ponthus; Reuters ~ Jul 02, 2015

5 Reasons Activists Might Be Targeting Alcatel-Lucent
By Brian Nichols; Seeking Alpha ~ Jul 02, 2015

Alcatel-Lucent to advance China Mobile and China Unicom’s move to the cloud with ultra-broadband access, IP networking and NFV technology
Alcatel-Lucent Press Office

ObamaCare ruling paves the way for lobbying blitz
By Sarah Ferris ; The Hill ~ Jul 01, 2015

54 Changes To Obamacare: Latest Additions
From Grace-Marie Turner; Forbes ~ Jul 01, 2015

Medicare proposes coverage change on short hospital stays
By Ricardo Alonso-Zaldivar; The Associated Press ~ Jul 01, 2015


LOCAL RETIREE NEWS

WECO SAGE is a group formed by computer pioneers who worked for Western Electric Company in the 1950s and 1960s installing an Air Defense System for the United States Air Force. The members of this Group have maintained their personal, and in some cases professional, relationships for over 50 years. The Group, whose members once numbered in the hundreds, meet on an annual basis at different locations throughout the country.The 2015 reunion will be held in Pacific Grove, California on the Monterey Peninsula on the 13th-15th of September. Contact Ron Trettau.


Club WECO-AT&T-Bell Labs-Lucent Technologies-Teletype-NCR-ALU. This group is intended primarily as a forum to connect (network) and maintain communication between past and/or current members. The Summer reunion was held on Friday July 17th, 2015 at Base Camp (the former 4 Lakes Lodge in Lisle). Contact Jim Simak.


eX TELETYPE is for ex-Teletype Employees to keep in touch. Teletype Corp. was located in Skokie, IL and Little Rock, AK. The Spring gathering of Teletype and Lucent people and friends was held on Tuesday, May 12, 2015, at Riggio's Restaurant in Niles .....Contact John Furno.


lucent5-5 is for Lucent retirees who took the special 5+5 voluntary retirement on July 13, 2001 (or wish they could have!). Its purpose is to keep in touch, to help provide support for working with the Lucent Pension folks, and to talk about Lucent in general. To subscribe, send an email to lucent5-5-subcribe@yahoogroups.com.


PCLUCENTALUM This group was set up to facilitate communication between ex-Lucent employees in Northern California. Send email to pclucentalum@yahoogroups.com