alcatel lucent pension lump sum

Annuity experiences with Lump Sum - The Lucent Retirees Message Board A2) This offer is strictly voluntary. That is not necessarily true. Used with permission. 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. 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.) 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. Please review the attached documents for complete information regarding this Program. 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. One of them is offering lump sum buy-outs. Alcatel-Lucent Lump Sum Pension Offer | Communications Workers of America 0000014070 00000 n 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. Advisor action items: Talk the your Alcatel-Lucent clients who may be affected. Alcatel-Lucent also recommends recipients of the offer consult with their personal financial planner and/or taxes advisor before making a decision. 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. Alcatel-Lucent announced it was being purchased by Nokia. Two announcements have been made this year by Alcatel-Lucent and many of you might think they are connected. 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. That is not necessarily true. )@,F/3H4(-A &.}qp@|te\j|Y#|:Op:[JAa9@gTj-@J endstream endobj startxref Dossier of the Week: Alcatel-Lucent's Lump-Sum Offer You can make some investments that are likely to generate growth and income to support your retirement needs. 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. You DO NOT have to accept this offer. Vm}O%TimaUMG60)f 6(jvR NEZ;[R!m))62Kr)7;yPedf`zms Some former employees might also have the opportunity to change their current annuity option to a different annuity form. Alcatel-Lucent announced it was being purchased by Nokia. If I do decide to take it, what are my investment options to continue to withdraw on a monthly or yearly basis? 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. Questions Regarding the Alcatel-Lucent Rent Lump Sum Purchase Alcatel-Lucent Pension Lump Sum Buyout | Communications Workers of America | Nokia to merge its 401(k) plan into Alcatel-Lucent's offering 0000009608 00000 n sure enough, the lack of stability does bring a certain focus - which, to your point, can be Great article. Alcatel-Lucent Old Scheme, London, completed a 100 million ($123.7 million) buy-in with Boarding Insurance Core. To read about CWA Members, Leadership or Industries, visit ourAbout page. Again, this is an extremely important decision and it requires careful consideration. 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 . Hello Terry, HWmkF}J\l|MiJ(R~H'g![3(!yrqK.//n+BS2bj~BT g8neSlI9oC9/rgczB7e DC4eUS;,'uq_6#:87lS1YA(V[cEUXq#\"?v,|nSIE%v](4h vZJz'^ She writes a weekly personal finance column syndicated in major newspapers by Tribune Content Agency. The National Association of Plan Advisors is a non-profit professional society. hmk0"tzc7hh:(}&5se(|EV i"0W-kb@@.P|,rQfd\e.9thw)SV"\N2,]Ew9gmP?e? Illinois DOES NOT currently tax IRA withdrawals. Two announcements have been made this year by Alcatel-Lucent and many of you might think they are connected. It is a sizable amount of money. 0000001121 00000 n The CWA actuaries will review them to be sure that how they are being calculated is correct. 0000010715 00000 n Alcatel-Lucent plans to make a voluntary lump-sum offer in 2015 to about 45,000 U.S. retirees and former employees vested in its U.S. defined benefit pension funds, according to a 6-K filing with . You can have automatic monthly withdrawals, or take money out at any time. Alcatel-Lucent Retiree Pensions - CWA 4900 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. I am 64 yrs. Alcatel-Lucent has contracted with Deloitte to provide Financial and Tax Education Individual Sessions through a number of live group sessions across the U.S. and a series of webcasts, as well as the opportunity for individual sessions via phone appointments. Privacy PolicyTerms of UseCopyright. 297 0 obj <>stream %%EOF In Column D, at your life. 0000001040 00000 n 0000001958 00000 n If you choose to do nothing, your current monthly pension payments will continue. If the plan is not fully-funded, the employer may apply for a distress termination if the employer is in financial distress. J m^?bSL&MM>^S!OYuFG]2_w*'~vmi"chV6{8E&`(72jje&}\MlKM+TLigQC42BIj4^C};)k"C+"?j^SDE5[k]83/pivCNSa+| $ A lump sum pension distribution offers the flexibility of being able to spend or invest your retirement savings any way you see fit. %%EOF 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. Former employee, ATT/Lucent/Alcatel-Lucent is offering a lump sum buyout of our pensions. In fact Alcatel-Lucent was a foreign company and they could not take our pension funds. You DO NOT have to accept this offer. Pension lump sum buyout - Terry Savage Q6) What company is the new annuity going to be with? 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. Traditionally, when interest rates rise by 1% the amount in an Lucent employee's lump-sum will drop by 8 - 12%. 130 E. Randolph St. To search specifically for more than one word, put the search term in quotation marks. Sell Your Pension & Retirement Plan for a Cash Lump Sum! It is a sizable amount of money. 0 0000008051 00000 n Alcatel-Lucent plans voluntary lump-sum offer in 2015 sw What about the Pension Protection Act? 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.) And it's true that one dollar in 1990 purchasing power requires $2.73 today. The advisor asked: What are the details around Alcatel-Lucents lump sum offer to former employees?. As we get more information, we will publish it on this site. Alcatel-Lucent plans voluntary lump-sum offer in 2015 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. Last week retirees received the first official notice of the lump sum offering.

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