Thursday, July 1, 2010

NRPC-US Update June 30th 2010

The NRPC-US in an earlier email indicated that it was only operating in an informal mode going forward. However due to the action taken by Nortel to file a motion terminating Medical and other non-pension benefits the NRPC-US has issued the following email.

It would seem too much of a coincidence that Nortel waited until after the NRPC had made their earlier statement before making the motion to terminate benefits.

I think it certainly will help us to have the NRPC-US still active in some role and I hope all the members will support their efforts and follow their suggestion to voice objection to the Nortel motion.

The letter referenced has been sent to NRPC-US members. You may also view the letter I sent in the post below this one.

NUSRPC Members Update June 30, 2010

On June 9 the NUSRPC notified its members of its intent to refund all remaining member funds to those who had not filed claims for non-qualified pensions using Segal services.

On June 14 Nortel filed notice of their intention to discontinue all benefits as of September 1 2010. The NUSRPC has consulted with several law firms to explore what options we may have to oppose this motion. We believe it is prudent to suspend the planned refunds until the court has made a decision on the motions to be filed July 16.

The NUSRPC believes that the motion to discontinue benefits as of September 1 is fundamentally unfair to former Nortel U.S. employees. If you agree, we are asking for your help to alert the court to this injustice.

Specifically, we are asking for you to:

1. Please read the attached letter. In addition please forward it to any former Nortel employees you may know who are not NUSRPC members, but who may be affected by the cancellation of benefits.

2. If you agree with it as is, (or if you wish to add personal comments about your own situation) please print out two copies, add your name and address at the top and sign them. Mail one copy to the court and one copy to Nortel's attorneys at the addresses contained in the letter.

We would have preferred to send emails but unfortunately emails are not an acceptable form of communication with the court. If our views are to be recognized as part of the court record, they must be expressed on paper, signed and mailed.

We recognize that it is an inconvenience to print, sign, create envelopes, stamp and mail these letters but strongly urge that you make the effort to do so.

This mailing is not the only measure the NUSRPC is taking to defend your interests. We will keep you informed about this as matters proceed.


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