Pension Disbursement

[No Longer in Printing]

Has anyone heard when the partial pension disbursement will begin? The paperwork that I received said the process would begin my November 1. Just wondering if this is true or more QWorld double talk......

[Nellemyer]

My Husban got the packet, but when we fill out all the paperwork and sent it in. we received back a form letter saying he was not eligable until he was 65.

[No Longer in Printing]

Just curious if any former employees who filled out the paperwork have received their rollover or 50%, or whatever option they chose. The paperwork said it would start November 1, but I expect it to take longer than that knowing the Q.

[Covington div]

Pension plan information is very limited. Looks to me they are holding on long as possible. The money has been invested and is not liquid, plus the longer they hold it the better for them.I do not know of anyone who has recieved anything other than a packet to have noterized, and returned. I think it will be long and hard if ever to get a cabh out.

[Old Printer]

This would not surprise me, however, aren't they legally bound to do it by the end of the year?

[Scalzo]

Old Printer wrote:

This would not surprise me, however, aren't they legally bound to do it by the end of the year?

No they are in Bankruptsy. The reason they sent out the paper work was to get up-dated information so they could include you in the court settlement. Basically to deny you any money. You will not receive anything.

[Tryin 2 b civil]

The Q is out of bankruptcy BUT only allowing "approximately" (whatever that means) 50% of your benefit in a lump sum with the remainder being "LIFE" annuity. All joint/survivor is N/A.
My question is why would they include waivers in the packet when they don't apply to begin with?!
What, exactly, is the deadline in which to respond?

[Tryin 2 b civil]

I was at Q St.Cloud for 28 years...How long was Memphis (Nellemyer) at his plant? I'm very interested in this note you received about having to wait until he's 65... Hmmm sounds like a scam to me!

[Inkjetter]

The pension money is supposed to be in in a trust that cannot be touched. It is supposidly underfunded. With so many pensioners getting
the rug pulled out from underneath them after
the bankruptcy, Im surprised a class action suit
hasn't been organised to prevent them from doing
whatever they want.

[Scalzo]

Wait and see if anyone actually get a check. Instead you will get a notice from a lawyer with some leagal nonsense, then you will be added to the bankruptsy list of debtors to be written off. Trust my ass, that was raided to buy a hockey team long ago, the money is gone.

[NickDanger]

Scalzo wrote:

Wait and see if anyone actually get a check. Instead you will get a notice from a lawyer with some leagal nonsense, then you will be added to the bankruptsy list of debtors to be written off. Trust my ass, that was raided to buy a hockey team long ago, the money is gone.

I would never trust anyones ass that can't even spell "leagal" or "bankruptsy"...

You know so little about pensions...

[its come to this]

NickDanger wrote:

<quoted text>
I would never trust anyones ass that can't even spell "leagal" or "bankruptsy"...
You know so little about pensions...

he tries so hard to sound intelligent though....lol..the fool

[Tryin 2 b civil]

In all actuality I realize nothing will distribute until the last possible second in order for whomever has the money to take full advantage. IRA isn't safe... 401K isn't safe.. What the heck is goin' on?!
Don't know which way to turn...

[Halycon]

I was part of the Covington division that was shut down. I left August 14th and was told I could not file for my pension until my severance pay ran out, which is February 2010. My son quit Quebecor February 2008 and a friend quit Quebecor April 2009. My son was told that he had $26,000.00 in his pension. Last month he got a letter giving him several options and the best in the letter was $4,000 cash and $30.00 a month for life. My friend had $200,000.00 in his pension and his best offer was $23,000.00 and $140.00 per month for life.
I have a letter I was given at my separation that tells me I can draw 50% of my pension cash and the rest in a monthly annunity. My letter and their letters do not add up or make sense. Has anyone any information on this, and is this type of disbursement legal?
Thanks

[World Color Employee]

Halycon you need to look under World Color home page go to Restructuring. chapter 11 claims docket numbers 1991 and 1992. They have a court date on Dec. 22 2009 on the pension claims.

[Halycon]

World Color Employee wrote:

Halycon you need to look under World Color home page go to Restructuring. chapter 11 claims docket numbers 1991 and 1992. They have a court date on Dec. 22 2009 on the pension claims.

Thanks WCE

[so ya know]

I have a question. If you are still working, how could you find out how much you have in your pension? Is there a way you can look online to find out? Thanks

[Halycon]

so ya know wrote:

I have a question. If you are still working, how could you find out how much you have in your pension? Is there a way you can look online to find out? Thanks

Quebecor....oops, World Color has a web page called iPress. You can get with your HR and they can direct you how to access it.

[Scalzo]

What about those of us that no longer work for QW? We received papers offering us our retirement. Guess it was all a ruse.

[Q Skeptic]

You never know what the Q/WorldColor regime will pull next. From everything I have read, people are getting mixed offers and promises but no one has said they have actually received anything!