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Drones over U.S. may pose security risks
DENVER, Dec. 29 (UPI) -- U.S. telecommunications firm Qwest said it would cancel pension death benefits for its retirees to maintain other pension benefits for former workers.
About 27,000 retired Qwest workers are eligible for the benefit, although Qwest would not divulge the number that receive it, The Denver Post reported Tuesday.
"This is a significant takeaway. If I died today, my wife would receive $117,000. If I die March 2, she would receive nothing from that," said Nelson Phelps, executive director of the Association of US West Retirees, who retired in 1990.
The benefit will be canceled March 1 "to ensure Qwest's continued financial and operational success," company spokesman Nick Sweers said.
Qwest said the takeaway would "protect the pension fund's ability to meet obligations of current and future retirees."
The change would reduce Qwest's liabilities by about $220 million, Sweers said.
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