Question for all that took the buyout.

Post your experiences in considering the buyout offer. Rough estimates of your age, monthly pension and the buyout amount. Also, considertions on why the offer works or does not work for you.

Question for all that took the buyout.

mendomann
Joined: 09 Jun 2008, 21:40

20 Jan 2016, 21:16 #1

Considering the state of the current stock market, any regrets with your decision?
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my9cats
Joined: 21 May 2014, 13:12

21 Jan 2016, 12:57 #2

No regrets at all for not lumping out. Tossed the paperwork out the same day it arrived and never looked back. At this point in my life I need stability, not uncertainty.
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mendomann
Joined: 09 Jun 2008, 21:40

22 Jan 2016, 20:49 #3

my9cats wrote:No regrets at all for not lumping out. Tossed the paperwork out the same day it arrived and never looked back. At this point in my life I need stability, not uncertainty.
Same here.
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judysniegocki
Joined: 24 Jun 2008, 17:13

23 Jan 2016, 19:28 #4

I have no regrets - never even considered the lump sum.
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slk230red
Joined: 08 Oct 2010, 17:44

01 Feb 2016, 15:47 #5

I thought this topic/question was for those that took the buyout.

I have no regrets for taking the buyout...it was a no-brainer!
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gk
Joined: 14 Jun 2008, 14:54

03 Feb 2016, 21:19 #6

I guess slk230red... your question has been answered by the lack of response from those who chose the buyout
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Golpher
Joined: 18 Aug 2015, 21:12

18 May 2016, 13:10 #7

I took the buyout with the goal to preserve some of the money for my children. My pension was calculated on both my wife and I getting the pension as long as one of us was alive.

The lump sum was equivalent to 17 years of my pension.

I got the lump sum in the beginning of November 2015. My plan was to invest about 1/3 of the amount by 1/1/16 and hold the rest in IRA cash. At the time there was some issues with the market and I didn't want to invest all of the lump sum. The market did go down and my total lump sum value went down a little. I lost around 15k. Since that that time I still haven't invested all my lump sum. I'm about 50% invested and have found a few dividend stocks that have paid well. Plus my current stock value is higher than my original lump sum by about 7%. Included in my portfolio is a stock that pays a dividend of 15%, which pays an amount equal to my monthly pension. The stock is a little risky, but it has gone up $2 a share since I bought it. So far, I am invested 50% of the lump sum.

My current status:
I'm 50% invested.
My monthly pension amount is paid by my dividends.
My current portfolio value is about 7% higher than my original lump sum amount.

I'll try answer any questions if I can.
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judysniegocki
Joined: 24 Jun 2008, 17:13

18 May 2016, 21:18 #8

You say that your stock pays out dividends equal to you monthly pension, but don't dividends get paid out quarterly?
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Golpher
Joined: 18 Aug 2015, 21:12

19 May 2016, 02:02 #9

Judy

In general, dividends are paid out quarterly, however there are some that differ from the quarterly schedule. I have seen some that pay monthly, others payout annually.
Regarding my comment about being paid a dividend equal to my pension, the quarterly dividend amount equals 3 months of my pension. So the quarterly dividend I will get at the end of July will cover my monthly payments for August, September and October.
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Conn2005
Joined: 22 Nov 2015, 18:05

13 Jun 2016, 23:44 #10

I am one that took the buyout. I posted several months ago with the "DEMAND" that I return the Entire Buyout distributed to me.
It was approved back in June 2015. Received 5 confirmations that I was "approved". I rolled the entire sum $146,000 into an IRA which was one of the options. Funds are now in a IRA. Because I'm 70 1/2 I'm required to take Mandatory distributions based on a percentage of the $146,000. This occurring this year. Unfortunately, after receiving the check and rolling it into the IRA, I received many calls in "panic" from the Call Center demanding that I return the money. I attempted to get someone to take responsibility for that they called an ERROR. It appears that someone decided within 48 hours after the check was placed in a IRA that I was not eligible. Seems very troubling to say the least that what happened from June 2015 and November 2015 when the distributions were taking place that "No One" discovered this alleged error. Told to just buy some money orders (140) and send them in an envelope to the call center and everything will be o.k. BUT, you cannot have a corporate contact, no address other than P. O. Box and no names, please. Oh, and don't worry about ANY tax consequences.....RIGHT....MAILED an APPEAL to the "Corporate" Address in Murray Hill, N.J. December 2015.......no acknowledgement, except the P. O. delivery........NOW 6 months - later. No Reply.

Seems I read that they have 90 days to acknowledge/reply. They give strict guidelines and take away the capability of filing a lawsuit unless you go thru the process.....BUT, where is the accountability of the "Company". Now 150 days have passed.....BUT, members, the tax consequences if I were to return the monies is $51,000 because once the IRA is surrendered the institution where it is held is required by IRS LAW to report it was ordinary income. Similar to a windfall. 10% penalty that goes along with the taxes NOT paid as estimated taxes. Where is the tax consequences to come from certainly not from Alcatel-Lucent or Nokia. The Department of Labor wrote to them 6 months ago certified mail asking for a explanation for the demand for return - Alcetel-Lucent never replied. So, I give back the $146,000 and remember when we signed off for any future pension benefits when we accepted the buyout. But, don't worry you'll get payments back, sure.....I signed the waiver. What about the Tax consequences, well, don't worry about that either. No Buyout, No pension, huge tax consequences. Yes, I did contact an attorney and was informed that this would be a Federal Court issue and take years, I don't have years.......none of us do. I only received Social Security, what am I to do.
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PaulJones
Joined: 28 Nov 2016, 16:49

30 Nov 2016, 18:26 #11

None whatsoever!
In fact thrilled that I do not have to worry about any of the issues being reported herein with alarm.
If the checks stop coming from the Netherlands, or wherever the heck the Nokia executives hide out, who ya' gonna call? Ghostbusters?
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PaulJones
Joined: 28 Nov 2016, 16:49

30 Nov 2016, 18:28 #12

Have made $30,000. since they called the election!
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