ONE-TIME PENSION ADJUSTMENT FOR OLDER RETIREES
One of the issues that DEAR has been working on with DTE is the declining spending power of our pensions, in particular, for those retired over 30 years. We are pleased to let you know that the results of our work and theirs had positive results. We are pleased to let you know that following their recent pension review, DTE Energy elected to make a one-time positive adjustment to the monthly pension benefits of DTE Electric non-represented employees who retired prior to 1987 when they were eligible for early or normal retirement benefits, as well as to the monthly pension benefits of the surviving spouses and beneficiaries of these retirees.
Employees who left the company before being eligible for early or normal retirement benefits (that is, in terminated vested status) and their surviving spouses and beneficiaries are not eligible for this adjustment. The adjustment is a flat percentage of the current monthly pension benefit based on the year in which the DTE Electric non-represented employee retired.
Those eligible for this pension benefit increase were notified by DTE in November and the increase was reflected beginning with their December 1, 2018 pension check.