Alcatel-Lucent Lump Sum Buy Out Of Monthly Pension Payments

Alcatel-Lucent informed the CWA National yesterday that they intend to make available to certain former employees, surviving beneficiaries and alternate payees, who are currently receiving monthly pension payments from the Lucent Technologies Inc. Pension Plan (the Plan), a Lucent Retiree Lump Sum Window Program (the Program).  The Program Window is only in effect beginning July 20, 2015 and ends at 11:59 p.m. (EDT) on September 25, 2015.

The purpose of the Program is to offer eligible former employees the ability to convert their current monthly pension payments into a one-time lump sum payment.  THIS PROGRAM IS STRICTLY VOLUNTARY!  Eligible former employees are NOT required to make any changes to how or when they receive their Plan benefits. 

The attached information (cover letter program announcement FTE Guide) will be mailed by Alcatel-Lucent to eligible Plan participants beginning tomorrow, Friday, June 26, 2015.  Please review the attached documents for complete information regarding this Program.  The Program is not being offered to everyone.  The attachment labeled “Lump Sum Program Announcement” identifies who is and is not eligible. 

In mid-July, eligible retirees will be sent a “Your Benefit Decision Kit”, which will show the amount of the individual’s lump sum payment and any new annuity options (if applicable) that are available to them under the Program. 

Alcatel-Lucent has contracted with Deloitte to provide Financial and Tax Education Individual Sessions through a number of live group sessions across the U.S. and a series of webcasts, as well as the opportunity for individual sessions via phone appointments.

If you have further questions once you receive your package of materials, please contact the Alcatel-Lucent Retiree Lump Sum Window Benefits Center at (866) 617-7164.