|
|
Article: Rockwell Semiconductor Retirees Lose Insurance Benefits with Successor Firm.
- Article from:
- Orange County Register (Santa Ana, CA)
- Article date:
- November 10, 2002
CopyrightCOPYRIGHT 2002 The Orange County Register. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Mary Ann Milbourn
Nov. 10--When Roger Cook retired from Rockwell Semiconductor Systems in December 1998, he did it for one reason: guaranteed health and life insurance benefits.
But it turned out it wasn't a lifetime guarantee.
Late last month, Cook and more than 700 other Rockwell Semiconductor retirees and their dependents were advised by Conexant Systems Inc., Rockwell's successor company, that their life insurance benefits will end Dec. 31 and their health insurance will be phased out over the next five years.
Each year until then, the retirees' premiums will go up. Cook's will more than double Jan. 1 from $159.80 a month ...