Group Life Insurance

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Group Life Insurance

Joined: January 23rd, 2009, 6:28 pm

September 20th, 2016, 2:43 pm #1

Will retired Lucent employees continue to receive Group Life Insurance?
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lucentretirees
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Joined: December 27th, 2006, 11:00 pm

September 21st, 2016, 3:57 pm #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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Joined: July 24th, 2008, 2:09 pm

October 18th, 2016, 5:49 pm #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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Joined: July 24th, 2008, 2:09 pm

December 2nd, 2016, 8:49 am #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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Joined: July 24th, 2008, 2:09 pm

December 11th, 2016, 7:44 pm #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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