Tuesday, November 23, 2010

Canadian LTD statement from Koskie Minsky

The following was posted on the Koskie Minsky site today.
Read carefully and if you have questions call K.M. You can find their contact information on their website shown in the right hand column.

November 23, 2010

All individuals in receipt of long-term disability payments, survivor income benefits and survivor transition benefits have or will soon receive a statement in the mail which sets out their personal information for verification. This personal information was used to calculate the preliminary estimates in the Beneficiary Estimated Allocation Statement.

The Data Verification Statements for disabled employees contain a column entitled ‘net monthly LTD-income payment’. Please take note that the amount set out in that column is net of Canada Pension Plan (CPP) disability payments, Workplace Safety & Insurance Board (WSIB) payments and other income benefits you receive that offset your monthly LTD-income payment.

However, the amount referred to in that column is not net of tax or other statutory deductions that regularly reduce your monthly LTD-income payments. Please note that for this reason, the amount in the ‘net monthly LTD-income payment’ column will not be precisely the same as the dollar amount of the net monthly payment you actually receive.

You may contact your Representative Counsel or the Monitor with questions or concerns.


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