Tag: Verizon
The Association of BellTel Retirees with Thomas Steed (Ep. 97)

The Association of BellTel Retirees with Thomas Steed (Ep. 97)

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The telecom industry has undergone significant changes, impacting both current employees and retirees. Understanding these shifts is crucial for safeguarding the future.

How does one navigate the shifting tides of the telecom sector? What measures can ensure the well-being of retirees who have dedicated their lives to the industry?

In this episode, Dennis O’Keefe talks with Thomas Steed, Chairman of the Association of BellTel Retirees, who shares fascinating stories and insights from his 30+ years working at Verizon and how the association supports retirees. 

Thomas discusses:

  • His early career in the 1970s with New York Telephone and the significant strike that broke the U.S. wage freeze
  • Changes within the telecom industry and the diminishing role of unions
  • Objectives of the Association of BellTel Retirees
  • The transition of the telecom industry post-AT&T divestiture and the creation of 9X
  • History and victories of the Association of Belltel Retirees, including cost-of-living increases and proxy wins
  • Key initiatives and recent advocacy efforts of the association, including their stance on maintaining landline services and contesting corporate decisions affecting retirees
  • And more!

Connect with Dennis O’Keefe: 

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About our Guest: 

Thomas Steed began his career with the New York Telephone Company, then a part of AT&T, in 1971 as a cable splicer working in Bronx construction.

Throughout his career, Mr. Steed was a member of the Communications Workers of America (CWA) and worked on a multitude of major construction and recovery projects across New York City and the Hudson Valley, including the February 1975 Telephone Company Fire, which knocked out both local and long-distance service that routed through New York. 

Later in his career, Mr. Steed would be selected to serve as a part-time organizer for his union, Local 1120, based in Poughkeepsie, NY, where he worked on national recruitment and organizing matters, including the recruitment of the International Business Machines (IBM) workforce into the union.

Under his role with the CWA, Mr. Steed went from being a technician working on major construction jobs to earning an Associate of Applied Science from Dutchess Community College 1999, Bachelor of Arts from the National Labor College 2000, Master of Science from the University of Baltimore 2003, and a Financial Planning Graduate Certificate from Mount Saint Mary College 2005. His interactions included working with then CWA International Union President Morton Bahr and his successor President Larry Cohen.

 

All content presented is for educational purposes only and should not be construed as an endorsement of any third party, or as a solicitation or offer to sell securities or provide investment, tax, legal, or consulting services, and should not be acted upon without obtaining specific advice from a qualified professional. 

We believe the information presented to be reliable but is not guaranteed as to its accuracy or completeness. All examples are hypothetical and for illustrative purposes only. Any opinions or statements by third parties are their own and may not be representative of the experience of others or indicative of future investment performance or success. No compensation has been exchanged for any testimonials, endorsements, and/or recognitions.

FEATURE
Rescuing Your Abandoned 401(k)s

Rescuing Your Abandoned 401(k)s

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Unlike Little Orphan Annie who found her happily ever after, an abandoned 401(k) might not find a proper home for years, sometimes even decades.

When plans are walked away from and forgotten, they lose the opportunity to thrive and fulfill their intended purpose. You need to rescue your abandoned 401(k)s!

Gain the motivation to reclaim your lost wealth as Dennis O’Keefe explains the complexities of managing multiple 401(k) accounts, the challenges of orphaned accounts, and the importance of consolidation. 

Key takeaways from this episode include: 

  • Why consolidating multiple 401(k) accounts makes it easier to track investments
  • How to prepare for the process of dealing with 401(k) providers
  • Rolling old 401(k) accounts into a self-directed IRA allows for more control and investment options
  • The need to stay proactive and informed about your retirement savings to ensure a secure financial future
  • And more!  

Connect with Dennis O’Keefe: 

 

All content presented is for educational purposes only and should not be construed as an endorsement of any third party, or as a solicitation or offer to sell securities or provide investment, tax, legal, or consulting services, and should not be acted upon without obtaining specific advice from a qualified professional. 

We believe the information presented to be reliable but is not guaranteed as to its accuracy or completeness. All examples are hypothetical and for illustrative purposes only. Any opinions or statements by third parties are their own and may not be representative of the experience of others or indicative of future investment performance or success. No compensation has been exchanged for any testimonials, endorsements, and/or recognitions.