i received an offer for a lump sum payout based on the incorrect monthly pension. Alcatel-Lucent to expand lump-sum offer to 32,000 more participants That is not necessarily true. 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 *4w| sX8#.i_96"he@;(e[*'m'-Ksbzgh k@0n`76Cdi} fK0/h. {j Please review the attached documents for complete information regarding this Program. Information and opinions provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Columbia Threadneedle. The advisor asked: What are the details around Alcatel-Lucents lump sum offer to former employees?. This offer, called the Alcatel-Lucent Retiree Lump-Sum Window Program, formally began on July 20, 2015 and ended on September 25, 2015. Choose your news we will deliver. 0000002392 00000 n Alcatel-Lucent to expand lump-sum offer to 32,000 more participants For example, workers compensation. Even if they are, that does not mean you should take it. If you dont have a choice, but must take the lump sum offered, then I suggest rolling it to an IRA as described above. Health & Safety Fact Sheets ; Legislation & Politics ; News & Events Alcatel-Lucent also recommends recipients of the offer consult with their personal financial planner and/or taxes advisor before making a decision. This means that there are specific guidelines that must be followed under federal law. In fact Alcatel-Lucent was a foreign company and they could not take our pension funds. In terms of the Nokia merger There is a fear since Nokia is a foreign company our pensions would no longer be protected. These resources include group sessions, individual sessions and a Financial and Tax Education Tool. 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. The Program Window is only in effect beginning July 20, 2015 and ends at 11:59 p.m. (EDT) on September 25, 2015. Privacy PolicyTerms of UseCopyright. I need to continue to withdraw money from my pension to live. 3QxbOJZL3 i`/ 4(yKH.WT=\}LN8V^*~& I need to continue to withdraw money from my pension to live. 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. Plan assets are protected from being used for purposes other than providing benefits (or reasonable administrative expenses). You can direct any service of legal process related to the Pension Plan to: The Alcatel-Lucent Employee Benefits Committee at Alcatel-Lucent, Room 7C-415, 600-700 Mountain Avenue, Murray Hill, NJ 07974, or The trustee of the Pension Plan (see "Pension Trust Fund"). Alcatel-Lucent, Murray Hillary, N.J., plans on make a unpaid lump-sum offer in 2015 until 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 the U.S. Securities and Exchange Order.