W000446
Wednesday, November 21, 2001 1:04 AM
Victims' Compensation Fund Comment from Familly Member of WTC Victim
Marlboro, NJ
My husband, was a 52 year old employee of for 20 years, and is one of the many employees who is missing at the World Trade Center. Unfortunately, he was on the 101st Floor at the time of the terrorist attack. To say that my two children and I
are devastated and are feeling a great loss is to grossly understate our
feelings. He was a wonderful husband and a very involved father, and will be
greatly missed.
As a result of this horrible tragedy, my family is now in a state of great
uncertainty. We have not only lost our husband/father but the sole supporter
of our household. I am in the midst of seeking financial relief and have
tried to keep abreast of all developments relating to governmental programs
currently being discussed. The September 11th Victims' Compensation Fund has
been one option that I am eagerly awaiting the details. However, there have
been many rumors that have not only upset me but have made me feel like my
husband has become a victim a second time. I have heard that Congress is
working on a formula in order to figure out the compensation a family will
get under this Fund. It is my understanding that a victim's annual
compensation and age on September 11th will be determining factors in that
formula. It is also my understanding that in the formula the amount of years
that one is expected to work is also a critical factor. Lastly, it has been
suggested to me that Congress is contemplating using an age that will be less
than 65 years old as the baseline for one to retire, and that compensation
would not be figured for any years past that. I am of the further
understanding that the expected workable years will also vary according to
the industry (in our case, that being the brokerage industry). To say that
the above factors, in my opinion, are grossly unfair and lacking in justice,
once again, understates my feelings.
I'd like to point out that while my husband did work in the brokerage
industry, he remained with one company for 20 years as a credit officer.
Notwithstanding the fact that there is a large amount of movement within the
industry, my husband clearly was an exception. Furthermore, this would
indicate that he would have continued to work in this capacity, in the
brokerage industry, until he was at least 65 years old. To make a broad
generalization that people in the brokerage industry do not remain in the
industry (or with a firm) on a long-term basis would result in a gross
injustice and prejudice against those who do not fit the presumed profile.
Such a presumption is wrong.
My husband was a healthy 52 year old man, who had every intention of working
until he was at least 65 years old. Retirement before 65 was simply not an
option for him since financially we were not prepared. All savings towards
retirement were made by my husband's contributions into a 401K Plan. The
market, however, has been such that my husband's 401K Plan was adversely
affected. For these reasons, we could not have afforded retirement at an
early age and, therefore, he would have continued to work as a credit officer
until 65 years old or older.
I am certain that I am not the only one in this situation. Therefore, since
you are now in a position to make decisions that will greatly impact the
survival of my family, I ask that you truly represent my family (and, most
importantly, my deceased husband) when Congress puts together the final
details for the September 11th Victims' Compensation Fund. It is not my
desire to take the litigation route, especially since my family is not in a
position to wait for the Courts. I have two kids that need to be taken care
of and without a fair compensation program I will be unable to adequately
provide for them. Since my husband was 52 years old, he had at least another
13 years that he would have had to work. My husband's life was cut short by
terrorists. Please do not make him a victim again by cutting short the years
that he planned to work. He would never have considered retirement before
the age of 65 and I am simply asking that Congress take our situation into
consideration when they fine-tune the formula in which they use in
determining the compensation that the victims' families receive. It is the
only fair and just way to treat this unfortunate matter. Please do not
allow Congress to victimize us again by not providing us with the support
that my husband had planned to provide.
I am having a difficult enough time dealing with the loss of my husband, and,
in addition, having to deal with the financial problems that I am now faced
with is way too much to bear. I ask you to please represent my family in a
fair and just manner. Thank you in advance for your prompt attention.
Individual Comment