Group Life Insurance

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Group Life Insurance

moxella
Joined: 23 Jan 2009, 18:28

20 Sep 2016, 14:43 #1

Will retired Lucent employees continue to receive Group Life Insurance?
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lucentretirees
Site Admin
Joined: 27 Dec 2006, 23:00

21 Sep 2016, 15:57 #2

The LRO's last newsletter said that it's business as usual. But it did emphasize "The issue discussed that remains our biggest concern is the funding of the Group Life Insurance Trust. You will read that It is now estimated that there are sufficient assets to fund this important benefit for an estimated six years."
Nokia now posts the plan descriptions at <http://www.benefitanswersplus.com/retired_m/spd.html>
There are two SPDs, depending on retirement date.
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info2
Joined: 24 Jul 2008, 14:09

18 Oct 2016, 17:49 #3

Why do we not have an option to cash out of group life at or above 50% of cash value depending on age?
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info2
Joined: 24 Jul 2008, 14:09

02 Dec 2016, 08:49 #4

Nokia has moral,and hopefully, a legal responsibility to fully fund GLI and return monies stole from the plan. But instead they say that they will wait and see after the current funds run dry. Kicking the can out 3 to 6 years is unacceptable for many,if not all,retirees. The Nokia response to the LRO letter to Nokia is reprehensible and should lead to legal action to protect our retirees from any further abuse!
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info2
Joined: 24 Jul 2008, 14:09

11 Dec 2016, 19:44 #5

If you die now you are more likely to have your GLI. Make plans to die sooner rather than later as Nokia doesn't seem to care about retirees losing their GLI!!! If they don't fund GLI to take care of all beneficiaries they should be banned from selling their products in the USA FOREVER!!!
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