Monday, November 1, 2010

Nortel US medical plan

Usually by this time of year Nortel US has sent out a document with details of the medical plan for employees and retirees for the following year. So far we retires have not received anything.

Earlier this year Nortel tried to place a motion before the court to terminate the medical plan, but subsequently withdrew the motion when they were faced with a decision in another court regarding the process by which a company in chapter 11 may terminate a medical plan. At the same time the US NRPC had submitted a motion to the court to consider formation of a voluntary employee benefits association (VEBA). That motion was also withdrwn at a later date.

Today I saw a posting on the Yahoo Nortel Pension Group which indicated that Nortel is actually planning to send out plan information. The posting stated:

" I got an e mail from a Nortel HR person indicating that next month
> (Nov) enrollment packages would be sent out. Usually some tweeking of
> benefits takes place as well as a cost increase. NT is a bit late in sending
> out the enrollment this year. I am surprised the plan is still operational."

Hopefully this is going to happen and that we will see a continuation of the Nortel medical plan for retirees.

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