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A letter sent to Canadian pensioners in July 2011 from the Nortel pension administrator Morneau Shepell announced that pensioners in Canada would have their benefits cut. A webinar held by the legal firm Koskie Minsky on July 22, 2010, addressed some of the questions raised. [19] The windup of the $5 billion Nortel pension plan began in October ...
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Around 2.5 million retirees could get some good news this holiday season: Their Social Security benefit checks may be increasing. That’s because the U.S. House of Representatives passed a bill ...
In October 2011, the administrators of Nortel's British subsidiary lost their appeal to overturn a court order requiring them to pay £2.1 billion into Nortel's underfunded pension plan. [134] [citation needed] Nortel's U.S. retirement income plan is now managed by PBGC Pension Benefit Guaranty Corporation. [135]
The Pension Benefit Guaranty Corporation (PBGC) is a United States federally chartered corporation created by the Employee Retirement Income Security Act of 1974 (ERISA) to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at the lowest level necessary ...
The Georgia woman “took advantage of her mother-in-law’s death,” an official said. ... McClatchy News contacted the woman’s attorney on Feb. 24 and didn’t immediately receive a response ...
These benefits offer crucial support to disabled individuals and their families, ensuring financial stability during times of hardship. Survivor benefits are available to the spouse, children, and other dependents of deceased workers, providing essential income assistance to families dealing with the loss of a breadwinner.¨
Pension benefits are primarily designed to favor workers who work a full career (typically at least 25 years of service), which account for approximately 24% of state-level public workers. In a study of 335 statewide retirement plans, Equable Institute found that 74.1% of pension plans in the US served this group of workers well.