While a pension annuity offers a fixed monthly income, a. 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. web design and development by new target, inc. To: Formerly Represented Retirees of Alcatel-Lucent, Subject: Questions Regarding the Alcatel-Lucent Pension Lump Sum Buyout. 0000012893 00000 n Leadership. Examples of those protections are: The Company may not retroactively reduce those benefits, once they are vested. 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 . PDF Annual Funding Notice Alcatel-Lucent Retirement Income Plan 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. Case of the Week: Do Roth Recharacterizations Still Exist? 40 0 obj <>stream If the plan is not fully-funded, the employer may apply for a distress termination if the employer is in financial distress. A decision by telecom company Alcatel-Lucent to move $3 billion out of a well-funded pension fund for retired workers into a fund for managers has union leaders worried about the long-term stability of the retirees' fund. In fact, at this years CWA T&T Leadership conference, our Research Department conducted a workshop on trends in Pension de-risking and bargaining. I am 64 yrs. 2023 Communications Workers of America, AFL-CIO, CLC All Rights Reserved | Site Map | Privacy Policy. Menu burger Close thin Facebook Twitter Google plus Linked in Reddit Email arrow-right-sm arrow-right Loading Home Buying Calculators
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