You may also contact the Alcatel-Lucent Retiree Lump Sum Window Benefits Center at (866) 617-7164. Therefore, the company cannot just take money from the pension plan and use it for other things. Legislation and Politics. Retirement Policy Proponent Sen. Ben Cardin Announces His Own Retirement, The Opportunity and Obligation in Small Plan Coverage: Hubs Joe DeNoyior, Expert Excoriated in Excessive Fee Dismissal. Vm}O%TimaUMG60)f 6(jvR NEZ;[R!m))62Kr)7;yPedf`zms For media inquiries, call CWA Communications at 202-434-1168 or emailnews@cwa-union.org. %%EOF In fact Alcatel-Lucent was a foreign company and they could not take our pension funds. Alcatel-Lucent Pension Functionality, London, completing a 100 billion ($123.7 million) buy-in at Pension Insurance Corp. Alcatel-Lucent enters into second buy-in for U.K. pension plan | Pensions & Investments - Brink's offers lump-sum payment to former employees Kh#3w3g@|9%lQ8zRO 0vmb|@f)4|b;'.o04}* >~A=(zZm/y]?E}r*e{,5i03=H9`}p 0cg atZ2$4^a1'J>gfr~0K2]3kQ^E\V9aUYp0NjUDFL1`8K^{q "]A Aa>&.cHeWW1B1Q`gT$a8XFm. 130 E. Randolph St. old, single, working fulltime, and in great health (knock on wood). It doesnt prevent a company from declaring bankruptcy. Q7) What happens to my healthcare if I take this lump sum buy out? Figuring this out is very simple. Below the lump sum value in Column C, copy and paste the annual pension payout into every row for each year you live, till your life expectancy used in step 1. History. Information about your Pension Plan benefit is also accessible, and pension transactions can be initiated, online through the Your Benefits Resources (YBR) website at http://resources.hewitt.com/nokia, 24 hours a day, seven Legacy Alcatel-Lucent Pension Plan If you are eligible for a legacy Alcatel-Lucent pension benefit, you can learn more about it through the YBR website. 2023 Communications Workers of America, AFL-CIO, CLC All Rights Reserved | Site Map | Privacy Policy. Some former employees might also have the opportunity to change their current annuity option to a different annuity form. Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors. Holy cow, Nevin, you wrote a white paper! Following are the questions, with the answers, that we have received to date. These mailings detail a one-time opportunity to convert their remaining annuity payments under the Alcatel-Lucent Retirement Income Plan or Lucent Technologies Inc. Pension Plan to a lump-sum payment. In fact these two announcements are not connected. Recipients have the option to do nothing and will continue to receive their current monthly annuity payments. 0000002947 00000 n If you are eligible for a lump sum, you may be able to get a significantly . It brings the total number of retirees and former employees who have yet to retire who will receive the offer to about 74,000, Marco Malfavon, company spokesman, said in an e-mailed reply to questions. Skip up main content . The premium amount will still be based on what your current monthly pension amount is today. Alcatel-Lucent informed the CWA National yesterday that they intend to make available to certain former employees, surviving beneficiaries and alternate payees, who are currently receiving monthly pension payments from the Lucent Technologies Inc. Pension Plan (the Plan), a Lucent Retiree Lump Sum Window Program (the Program). They could do that by purchasing annuities through an insurance company. If you roll to Fidelity, Vanguard, or T. Rowe Price they will handle both the investment and withdrawal planning for you. Our legal department and our research department both came to the same conclusion: U.S. law that currently protects the pension benefits of our members will still apply if Nokia purchases Alcatel Lucent. Eligible former employees are NOT required to make any changes to how or when they receive their Plan benefits. A1) Alcatel-Lucent is making available financial and tax education services through Deloitte, an objective, third party organization, at no cost to you. Leadership. Case of the Week: Plan Establishment and Compensation, Case of the Week: Faulty Form 5500 Filings and Reasonable Cause, BREAKING NEWS: Announcing the 2022 NAPA Top DC Advisor Teams, Breaking News: Biden Vetoes Congressional Resolution Blocking ESG Rule, Jerry Schlichter and Tom Clark Fiduciary Litigation Debate: DC Pension Geeks Podcast, Brian Graff Has a Stark Warning for Advisors: NAPA 401(k) Summit, 401(k)s Increasingly Under Attack in Wake of SECURE 2.0 Passage. startxref Recipients have the option to do nothing and will continue to receive their current monthly annuity payments. %%EOF sw 0000009608 00000 n hmk0"tzc7hh:(}&5se(|EV i"0W-kb@@.P|,rQfd\e.9thw)SV"\N2,]Ew9gmP?e? The CWA actuaries will review them to be sure that how they are being calculated is correct. There are many things you need to take into account, many of which are described in the packet (taxes, your health, your age, your dependents, etc.) (What you might be thinking is that an IRA is less secure from creditors than a pension payout, and that would be correct.) Interest rates have increased rapidly over the course of 2022, and if you receive your Lucent pension as a lump sum this reduces the value. On the one hand, you could roll the lump sum into an IRA, with no tax consequences, and then manage the investments and a withdrawal plan (with a certain Minimum Required Distribution) every year. More on Alcatel-Lucent retiree and pension issues and the acquisition by Nokia. Employers that reduce the risk of their pension plans could face a new requirement: disclosing basic information about the transactions to the Pension Benefit Guaranty Corp. as part of paying their annual premium to the federal agency. xoH-Ge/+Uj%_lQ8B\R,Nk;Od.''M[fy%'mNd/i(-*i_EvS4H.fx3Vpe they have known this for over 30 days and i am not making any headway with getting it corrected. \?Q8za"mb CMz>GWcgeXSoGcg z!#}'`yOx"(:otxJ+;`Oc56d jnSf;Tm;H8b`i@5@(^hq;X8@d]EXr|w^>|K3Y6g9skZy&jteg}aBM\ju.Ks8XpOTi#Dl8gCx. To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market. BIs Article search uses Boolean search capabilities. We strongly advise you to gather as much information as possible and to consult with your own personal financial planner, legal advisor and/or tax advisor. Cash Lump Sum Options for: Company Pension; Any State or Federal Government Pension; Military; Police and FIre Pension; Teacher Pension; Call Us Toll Free: 1-800-853-5640 to reach a representative who will discuss your lump sum pension payment and retirement annuity options with you. Q1) Where can I get more information about this offer? <]>> The permissions that Alcatel-Lucent (ALU) had to file to amend its Pension Plan to offer the lump sum program started long before the Nokia merger was announced. 2023 Communications Workers of America, AFL-CIO, CLC All Rights Reserved | Site Map | Privacy Policy, More on Alcatel-Lucent Retiree and Pension Issues and the acquisition of Nokia. To do so, however, the employer must prove to a bankruptcy court or to the PBGC . 3QxbOJZL3 i`/ 4(yKH.WT=\}LN8V^*~& If the lump sum is not anywhere near enough to generate the same monthly income as your pension, then if given the choice you will want to stick with the pension promise. The best way to safeguard our future is to stay active in your Retiree Councils and vote for people who will fight to protect our rights and our benefits. endstream endobj 272 0 obj <>stream 0000017395 00000 n hbbd```b``z "kd(d? L Ne`8H3*00\?0 Z* Therefore, the company cannot just take money from the pension plan and use it for other things. Alcatel-Lucent also recommends recipients of the offer consult with their personal financial planner and/or tax advisor before making a decision. Used with permission. If I roll it over, say into an IRA, then the income becomes taxable. 0000001121 00000 n Tenth Floor Alcatel-Lucent Old Scheme, London, completed a 100 million ($123.7 million) buy-in with Boarding Insurance Core. If I do decide to take it, what are my investment options to continue to withdraw on a monthly or yearly basis? Social Security Solvency: Is it Really That Bad? 297 0 obj <>stream Beware of companies that extend the start of their payout beyond this normal 1 month, because this can have a big impact on your income from the annuity. Learn more here. 0000002597 00000 n In addition, Nokia will most probably create a Nokia (USA) subsidiary which would be completely subject to US laws. For example, workers compensation. Q2) Do I have to take this lump sum buyout offer? Just go to www.immediateannuities.com, and insert your age, gender, state, and the lump sum amount you have to invest. `lsIf8 y[e?f-IE2.H54&%6h2SQ HUE{RV3@@ But keep in mind that a lump sum pension payout makes it easier to overspend in retirement. So assuming that you are not going to be sued, this is strictly a financial planning question. Sign up to receive Terrys free newsletter!! In a lump sum buy-out the company is paying the present value of the pension amount so that it takes the liability off their books, which means they no longer have to pay PBGC premiums or manage the money themselves. You will receive your first bill in mid-November for your December coverage. It brings the total number of retirees and former employees who have yet to retire who will receive the offer to about 74,000, Marco Malfavon, company spokesman, said in an e-mailed reply to questions. endstream endobj 269 0 obj <>/Metadata 17 0 R/Pages 266 0 R/StructTreeRoot 32 0 R/Type/Catalog>> endobj 270 0 obj <>/MediaBox[0 0 612 792]/Parent 266 0 R/Resources<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 271 0 obj <>stream The lump-sum window runs from July 20 through September 25 and is completely voluntary. 0 endstream endobj 548 0 obj <>stream Jobs, Health Care & Retirement Security . Early this year Alcatel-Lucent announced they were investigating offering a voluntary lump sum buy-out of retiree pensions. Alcatel-Lucent, Murray Hill, New Jersey, announced Friday it plans to extend an offer of an immediate lump-sum payment to about 32,000 retirees and former employees in its U.S. Inactive Occupational Pension Plan. For example, hurricane & loss. So, if you are evaluating whether or not to take the lump sum, you should not take the lump just because you are fearful about the Nokia merger. The National Association of Plan Advisors is a non-profit professional society. 0000022178 00000 n XWyTfnzp@EA0DEqD" Traditionally, when interest rates rise by 1% the amount in an Lucent employee's lump-sum will drop by 8 - 12%. But even if you follow the recommended plan,there will be no guarantees that the payouts will last your lifetime as would be the case with a pension. Alcatel-Lucent announced it was being purchased by Nokia. Alcatel-Lucent to expand lump-sum offer to 32,000 more participants Alcatel-Lucent completes buy-in for U.K. pension fund, eyes full buyout Alcatel-Lucent enters into second buy-in for U.K . Your guidance is very much appreciated. The CWA actuaries will review them to be sure that how they are being calculated is correct. I am 64 yrs. 0000007454 00000 n That will get you a guaranteed stream of (fully taxable) income for as long as you live. Can the company terminate the pension plan? One of them is offering lump sum buy-outs. 2015 Columbia Management Investment Advisers, LLC. 0000001040 00000 n Alcatel-Lucent announced it was being purchased by Nokia. This means that there are specific guidelines that must be followed under federal law. Copyright 2023by NAPA, Compliance Administrator (TPA) Evaluation. 0000000776 00000 n Plan assets are protected from being used for purposes other than providing benefits (or reasonable administrative expenses). Alcatel-Lucent informed the CWA National yesterday that they intend to make available to certain former employees, surviving beneficiaries and alternate payees, who are currently receiving monthly pension payments from the Lucent Technologies Inc. Pension Plan (the Plan), a Lucent Retiree Lump Sum Window Program (the Program). There are many politicians in the pockets of corporate America who want to weaken pension rules, attack Social Security and Medicare and strip Unions of their ability to bargain. If you dont have a choice, but must take the lump sum offered, then I suggest rolling it to an IRA as described above. (And, you will understand why the company wants to end the pension promise because it was too generous.). Some eligible former employees also had the opportunity to change their existing annuity option to a different annuity option. Because this offer was already approved and in the works it is NOT impacted by the ruling. You DO NOT have to accept this offer. Any money left over in the fund the company would have to pay a penalty tax on. %PDF-1.4 % 0 a835gQ00]=8gVYROU4CCXghhr'Hcbo2.0k7.8-1pC*A#=W[K!F$R# Our legal department and our research department both came to the same conclusion: U.S. law that currently protects the pension benefits of our members will still apply if Nokia purchases Alcatel Lucent. About Change submenu. The company said in its fourth-quarter 2014 earnings release that the offer, to take place in the fourth quarter of 2015, will run concurrently with a previously announced offer for retirees in its U.S. Management Pension Plan. In a lump sum buy-out the company is paying the present value of the pension amount so that it takes the liability off their books, which means they no longer have to pay PBGC premiums or manage the money themselves. You can have automatic monthly withdrawals, or take money out at any time. Menu burger Close thin Facebook Twitter Google plus Linked in Reddit Email arrow-right-sm arrow-right Loading Home Buying Calculators To: Formerly Represented Retirees of Alcatel-Lucent, Subject: Questions Regarding the Alcatel-Lucent Pension Lump Sum Buyout. What questions should I be asking? New York, NY 10017-4036, Chicago Office Q6) What company is the new annuity going to be with? In mid-July, eligible retirees will be sent a Your Benefit Decision Kit, which will show the amount of the individuals lump sum payment and any new annuity options (if applicable) that are available to them under the Program. Workers' Rights Button submenu. In terms of the Nokia merger -- There is a fear since Nokia is a foreign company our pensions would no longer be protected. Chicago, IL 60601, R.I. treasurer seeks transparency laws for church plans, Public pension funds adopt cost-sharing mechanisms to stem volatility, Avery Dennison to terminate U.S. pension plan, Sponsored Content: The Plan Sponsors Guide to Retirement Income, The Institutional Investors Guide to ESG Investing, The Plan Sponsor's Guide to Retirement Income, 2023 Defined Contribution East Conference, Alcatel-Lucent plans voluntary lump-sum offer in 2015, Celanese reveals $143 million in lump-sum payments, Lockheed Martin removes $529 million in PBO through lump-sum payments, Hospira pays $22 million in lump sums to former employees, GAO report calls for more disclosure to participants in lump-sum offers, Alcatel-Lucent completes buy-in for U.K. pension fund, eyes full buyout, Nokia to merge its 401(k) plan into Alcatel-Lucent's offering, Alcatel-Lucent enters into second buy-in for U.K. pension plan. web design and development by new target, inc. There are many politicians in the pockets of corporate America who want to weaken pension rules, attack Social Security and Medicare and strip Unions of their ability to bargain. 0000014070 00000 n Careers at CWA. Perhaps your real question is whether the buyout amount if invested in a different immediate annuity (a check a month for life, fixed) is enough to get you a check equivalent to the promised lifetime pension check. Questions Regarding the Alcatel-Lucent Pension Lump Sum Buyout. Case of the Week: Do Roth Recharacterizations Still Exist? The attachment labeled Lump Sum Program Announcement identifies who is and is not eligible. 0000010715 00000 n Examples of those protections are: The Company may not retroactively reduce those benefits, once they are vested. What about the Pension Protection Act? 284 0 obj <>/Filter/FlateDecode/ID[<401FD2CD3C4E2E4F956EAD5ECE542FCA><5B6DADCB6C7B5D49B41567324319F557>]/Index[268 30]/Info 267 0 R/Length 90/Prev 182067/Root 269 0 R/Size 298/Type/XRef/W[1 3 1]>>stream A5) The new ruling by the IRS addresses discontinuing offering a lump sum buy out in certain circumstances going forward. r?Yw-g{A8se? Jx^m!xDC8p:PI((`![G EkrQXADX To read about CWA Members, Leadership or Industries, visit ourAbout page. i received an offer for a lump sum payout based on the incorrect monthly pension. Q2) Do I have to take this lump sum buyout offer? Biggest Lucent Pension Drop in a Generation. Call 1-888-232-4111 and select "Retirement and Investments", then select "Pension". One option is to take the lump sum and park it in a money-market fund currently paying more than 4% until better investment opportunities come along. Currently the LTPP is funded at approximately 149%. The permissions that Alcatel-Lucent (ALU) had to file to amend its Pension Plan to offer the lump sum program started long before the Nokia merger was announced. 544 0 obj <> endobj )@,F/3H4(-A &.}qp@|te\j|Y#|:Op:[JAa9@gTj-@J A3) The language on page 10 is standard language. A schedule of those sessions is in the Financial and Tax Education Guide booklet provided in the program announcement package. A4) What page 15 of the Financial and Tax book is referring to is that if Alcatel-Lucent declares bankruptcy and does not have enough money to cover the liabilities of the plan the PBGC would take over the plan. xref sure enough, the lack of stability does bring a certain focus - which, to your point, can be Great article. For specifics, click on the employer's name to see the company's press release, SEC filing, or news story announcing the change (some links may expire). The best way to safeguard our future is to stay active in your Retiree Councils and vote for people who will fight to protect our rights and our benefits. PBGC proposes pension plan risk-transfer disclosure requirement, Ford pension plan funding holds steady in 2014, COPYRIGHT 2023 BUSINESS INSURANCE HOLDINGS. Two announcements have been made this year by Alcatel-Lucent and many of you might think they are connected. I need to continue to withdraw money from my pension to live. %PDF-1.5 % The only caveats with this purchase of an immediate annuityare that if you die in a year or two, the insurance company keeps the remaining balance in the annuity account, and the check is a fixed amount that will not go as far if we have an inflation problem. To search specifically for more than one word, put the search term in quotation marks. After all, getting a huge influx of cash into your account upon retirement would make anyone jump for joy. In fact that is why the CWA had to lobby for expanded legislation to continue to provide for collectively bargained medical and death benefits from the Plan. Alcatel-Lucent, Murray Hill, N.J., announced Friday it plans to extend an offer of an immediate lump-sum payment to about 32,000 retirees and former employees in its U.S. Inactive Occupational Pension Plan. A2) This offer is strictly voluntary. Last week retirees received the first official notice of the lump sum offering. Privacy PolicyTerms of UseCopyright. All of this is costly to the company. Bottom Line: Rising rates reduce lump sums. We have been receiving a number of questions regarding the lump sum buyout recently offered to certain former employees, surviving beneficiaries and alternate payees, who are currently receiving monthly pension payments from the Lucent Technologies Inc. Pension Plan (the Plan). It is a sizable amount of money. In Column D, at your life. 0000012893 00000 n If you choose to do nothing, your current monthly pension payments will continue. A6) The new annuity is a recalculation, for certain individuals, of the old calculations and is still administered by the pension plan. 2023 Communications Workers of America, AFL-CIO, CLC All Rights Reserved | Site Map | Privacy Policy, To: Alcatel- Lucent Formerly Represented Retirees, Surviving Beneficiaries and Alternate Payees, RE: Lump Sum Buy Out Of Monthly Pension Payments, Alcatel-Lucent Lump Sum Buy Out Of Monthly Pension Payments. endstream endobj 273 0 obj <>stream The Pension Protection Act helps to ensure the plan is appropriately funded. xb```b``d`e`y |,@Q9F90*oZWcS;ik5H0frrx@,V"a"C8jqP hkkG@$fg.e5$-ZRY+u}3+)Jb5j?Bs33g0.lDEPO"$LRBQB{L2BgB@GyNyU/^mDJ$.nyw'(FyY_1JNb+vFcq+3r,k5>k9]TF5Fr ov+%]lnJyZCm;[yw9{Zy zv# About 55,000 The attached information (cover letterprogram announcementFTE Guide) will be mailed by Alcatel-Lucent to eligible Plan participants beginning tomorrow, Friday, June 26, 2015. Approximately 75,000 eligible former employees, surviving beneficiaries and alternate payees of Alcatel-Lucent have begun receiving formal lump-sum window notices. As of Dec. 31, 2013, the U.S. pension funds had $30.1 billion in assets and $26.2 billion in projected benefit obligations, for a funding ratio of 115%, according to the companys most recent 20-F filing. I am 64 yrs. endstream endobj startxref 0000014974 00000 n In fact these two announcements are not connected. one-time, opportunity to convert their current monthly pension payment to a lump-sum payment (or, for some individuals, to change their pension payment option). Synopsis of Material Modifications Alcatel-Lucent Retirement . There are many things you need to take into account, many of which are described in the packet (taxes, your health, your age, your dependents, etc.) 0000011786 00000 n Despite a July 9 announcement that the IRS intends to eliminate lump-sum windows for retirees already receiving annuity payments, the Alcatel-Lucent lump-sum window is allowed to proceed under a special prenotice grandfather clause for programs announced prior to July 9. To read about CWA Members, Leadership or Industries, visit ourAbout page. Q4) Also on page 15 in the Financial & Tax booklet, provided by the company, it says if they go broke we get nothing in a pension. And it's true that one dollar in 1990 purchasing power requires $2.73 today. Today, the pension plan is covered by ERISA and is protected by the Pension Benefit Guaranty Corporation (PBGC). The CWA has requested that ALU give us a complete accounting of how they are arriving at the lump sums (interest rates, mortality tables, etc.) I have to decide by Sept. 11, 2015. 0000015024 00000 n BUT, if you want some certainty about income, then you might take a portion of the money and buy one of those immediate annuities inside your IRA. hbbd```b``A$Sd9&@A vX{> 685 Third Avenue at the current rate of yearly allocations given by the employer. The advisor asked: What are the details around Alcatel-Lucents lump sum offer to former employees?. Again, this is an extremely important decision and it requires careful consideration. View all Financial Planning / Retirement questions. These resources include group sessions, individual sessions and a Financial and Tax Education Tool. 0000007666 00000 n 17 0 obj <> endobj %%EOF Choose your news we will deliver. Early this year Alcatel-Lucent announced they were investigating offering a voluntary lump sum buy-out of retiree pensions. Two announcements have been made this year by Alcatel-Lucent and many of you might think they are connected. I need to continue to withdraw money from my pension to live. Or you could wait a few years to buy an. 40 0 obj <>stream The lump-sum window runs from July 20 through September 25 and is completely voluntary. ~n]A9iRD wkvU@HB8E8JKkt>:O) One more point, just because our pension are protected now, we should not assume it will always be this way. Pension Plans offer lump sums periodically, but typically change once a year. Thank y. Terry Says: Well, first of all, you have one fact wrong. CWA is not in the position to interpret the companys offer and does not give out financial advice. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. Former employee, ATT/Lucent/Alcatel-Lucent is offering a lump sum buyout of our pensions. TAJ6LuR.u(NdLN_Ht)txF%K.)/|q1oO|uB+t{?ZQWH^ hsPZ=+,wz/ Health & Safety Fact Sheets ; Legislation & Politics ; News & Events A2) This offer is strictly voluntary. You can make some investments that are likely to generate growth and income to support your retirement needs. That new car or luxurious vacation may not . This offer, called the Alcatel-Lucent Retiree Lump-Sum Window Program, formally began on July 20, 2015 and ended on September 25, 2015. You will see offerings frm major insurance companies giving you a monthly payout. You have until September to decide and you should use the time to consult with someone who can review your individual situation. Alcatel-Lucent, Murray Hill, N.J., announced Friday it plans to extend an offer of an immediate lump-sum payment to about 32,000 retirees and former employees in its U.S. Inactive. In fact that is why the CWA had to lobby for expanded legislation to continue to provide for collectively bargained medical and death benefits from the Plan. We strongly advise you to gather as much information as possible and to consult with your own personal financial planner, legal advisor and/or tax advisor. A lump sum pension distribution offers the flexibility of being able to spend or invest your retirement savings any way you see fit. under the Plan to a one-time, lump-sum payment. You have until September to decide and you should use the time to consult with someone who can review your individual situation. The Columbus Dispatch Tuesday February 16, 2016 5:00 AM. I'd point out however that not all wobble stools are bad. The Program Window is only in effect beginning July 20, 2015 and ends at 11:59 p.m. (EDT) on September 25, 2015. This one-time opportunity--called the Alcatel-Lucent Retiree Lump-Sum Window Program (the "Program")--formally began on July 20, 2015 and ended on September 25, 2015. endstream endobj startxref My son in Corby, your life and leadership have been an inspiration to us all. It is in the companys self-interest to keep the pension plan healthy because if it is not, they cannot pay for retiree medical from the plan and they have a contract saying they will pay retiree medical through the end of 2019. J m^?bSL&MM>^S!OYuFG]2_w*'~vmi"chV6{8E&`(72jje&}\MlKM+TLigQC42BIj4^C};)k"C+"?j^SDE5[k]83/pivCNSa+| $ In fact these two announcements are not connected. endstream endobj 545 0 obj <>/Metadata 74 0 R/Pages 542 0 R/StructTreeRoot 124 0 R/Type/Catalog/ViewerPreferences 554 0 R>> endobj 546 0 obj <>/MediaBox[0 0 612 792]/Parent 542 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 547 0 obj <>stream Quantifying sustainability the numbers, the data, and the people, Valuing Banks: Hidden Losses Versus Assets, Research for Institutional Money Management, Global Fixed Income: Volatility and Uncertainty Here to Stay, For institutional investors, ETFs can make meeting liquidity needs easier, Gold: the most effective commodity investment, 2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios, Ten ways retirement plan professionals add value to plan sponsors. In fact Alcatel-Lucent was a foreign company and they could not take our pension funds. For media inquiries, call CWA Communications at 202-434-1168 or emailnews@cwa-union.org. What You Can Do on the YBR Website If you are now receiving benefits: View your payment confirmations and history; 553 0 obj <>/Filter/FlateDecode/ID[<94B3386967048548A045BA5BD9299ADC><31856CD454ED2C479B066D538F2F01B1>]/Index[544 26]/Info 543 0 R/Length 70/Prev 342004/Root 545 0 R/Size 570/Type/XRef/W[1 3 1]>>stream In terms of the Nokia merger There is a fear since Nokia is a foreign company our pensions would no longer be protected. 0000008051 00000 n Early this year Alcatel-Lucent announced they were investigating offering a voluntary lump sum buy-out of retiree pensions. A recent call with a financial advisor in California is representative of a common question related to pension de-risking and lump sums. If you are not familiar with these principles, here are some quick tips. A lump sum payout is the more exciting option of the two. If you have further questions once you receive your package of materials, please contact the Alcatel-Lucent Retiree Lump Sum Window Benefits Center at (866) 617-7164.
alcatel lucent pension lump sum