We must realize that other than the Mary Kay NSD Family Security Program, most other pension plans are at risk. There is irrefutable evidence that Mary Kay Cosmetics is one of the most solid and prosperous companies in America.
We should encourage women to look toward the future to emphasize the need for establishing NSD as a long term goal to secure their family’s future.
BACKGROUND ON CORPORATE AMERICA
∑ Delta Airlines has laid of thousands of employees and cut pilot salaries by 40%. Many airlines faced similar issues in previous years including United Airlines, US Airways, and Continental.
∑ Ford stopped matching funds last year on 401(k)’s.
∑ Other Delta employees had a 19% pay cut, lost some of their retirement benefits and had a major increase in medical insurance premiums.
∑ United Airlines had to turn over their employee pension program to a federal relief agency resulting in a 50% reduction in retirement benefits.
∑ General Motors is in negotiation to reduce retirement medical benefits.
∑ Motorola wiped out benefit plans for new employees.
∑ Estee Lauder is offering early retirement to employees. This is the first step toward company layoffs.
∑ 60% of US companies are either freezing or ending their pension plans according to a USA Today article on December 28, 2005.
∑ Sears froze its benefit plans starting this year.
∑ On 1/7/06, IBM announced that in 2008 new employees will no longer receive a pension plan. They are doing this to remain competitive with other companies who do not offer pension plans. Just in IMB alone, this impacts 125,000 people.
∑ On 1/24/06, Ford announced 30,000 job cuts and several plant closings.
∑ Alcoa announced that they will no longer offer new employees retirement plans so they can remain competitive.
Sourced from by Ellen Farquharson