Kaiser Aluminum Salaried Retirees Association - P.O. Box 1171, Lafayette, CA 94549 (925) 284-7009 KASRA Nov. 2003 Email:
[email protected] RetireeRetiree NewNewss Dear Fellow Retiree: Because no changes have yet been negotiated or agreed to or approved by the Bankruptcy Court, we caution As you know from my October 3 cover note and the against taking any action to replace current coverage. Joint Statement issued by Kaiser Aluminum and the However, as I said to the retiree groups, it is wise to Official Committee of Salaried Retirees (the “1114 be prepared so that you will be in a position to act Committee”) appointed by the Bankruptcy Court, ne- quickly should the need arise. gotiations have begun between the company and the 1114 Committee. I also told the attendees at these meetings that the 1114 Committee will be sending each retiree and sur- The company has indicated in its public filings that viving spouse a second publication, “Shopper’s Guide substantial modification or termination of certain re- to Medicare Supplement Insurance,” prepared by tiree benefits, such as medical and life insurance, will Weiss Ratings Inc. (Weiss evaluates the financial be required. Because substantial modification or ter- strength of more than 15,000 institutions, including life mination of the salaried retiree benefits at some time in and health insurers, banks, savings and loans, and bro- the future is a likely result of the company’s Chapter kerage firms.) Its Shopper’s Guide to Medicare Sup- 11 reorganization process, the company and the 1114 plement Insurance covers providers of so-called Medi- Committee are exploring alternative providers of medi- gap insurance.