Article January 10, 2005 Issue

The sweet road to recovery

By John Hubler

THE NEWS WAS DISTURBING, THE EMPLOYEES AT THE UTILITY company where I work had just been notified that there were to be changes to our benefits package, and unexpected restrictions placed on our retirement plan. After many years of dedicated service to the company, most recently as general manager of my district, I felt bitter and betrayed. It seemed as though all the planning and preparation I'd done to secure my financial future had been disrupted.

During the past few years, the company had been going through a business reorganization in order to be more competitive. Then, in the summer of 2003, there was a series of cutbacks, and a respected friend and colleague was forced into an early retirement. This individual had been a source of tremendous support for me in the corporate office. I considered his departure a great loss, and I felt sick about the way he had been forced out.

Soon after he left, we got the notification about changes to our benefits package.