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Age 55
- You may retire any time after you reach age 55, as long as you were vested in your plan benefit when Nortel filed for bankruptcy (January 14, 2009). In the past, PBGC did not pay pension benefits to workers who continued to work for the company that had sponsored the pension plan. PBGC rescinded its working retirement rule as of June 1, 2021.
www.pbgc.gov › about › faqNortel Plan-specific FAQs - Pension Benefit Guaranty Corporation
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NORTEL NETWORKS RETIREMENT INCOME PLAN. Overview. View PBGC Maximum Monthly Guarantees for Plans Terminating in 2009. FAQ. Browse common questions and answers related to PBGC, plans and benefits. Your PBGC Benefit Options. General FAQs About PBGC. Online Transactions Are Easy: MyPBA FAQs. Health Coverage Tax Credit (HCTC) CONTACT US.
Oct 21, 2016 · Ever since Nortel Networks first filed for bankruptcy protection in 2009, the 20,000 Canadian pensioners of the company have been waiting to see how much they will get out of the pension plan. Court proceedings in Canada and the U.S. have focused on how to divvy up Nortel’s US$7.3 billion in assets between Canadian, U.S. and European creditors.
Jul 20, 2009 · Nortel's pension plan covers some 23,000 employees and retirees of Nashville-based Nortel Networks Inc., the U.S. subsidiary of Nortel Networks Corp., which is headquartered in...
Jul 17, 2009 · The Pension Benefit Guaranty Corp. estimates the Nortel Networks Retirement Income Plan has assets worth only $716 million US, while its benefit liabilities are much higher at $1.23 billion...
Nortel Retirees and former employees Protection Canada. NRPC is a non-profit member-supported organization for Canadian former employees of Nortel. It was formed after announcements in the media that Nortel Networks, a large multinational telecommunications company, had entered bankruptcy proceedings in several countries.
Jul 17, 2009 · The Nortel Networks Retirement Income Plan is 58 percent funded, with assets of $716 million to cover benefit liabilities of $1.23 billion, according to PBGC estimates. The agency expects to...
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