Payment to begin soon?

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Re: Payment to begin soon?

Postby ckatz01 » Tue Oct 30, 2018 8:05 pm

I think I've read that folks seem to be receiving checks at a 15.44% payout after taxes. Returned home today and found my check at a payout of 14.649% payout. Anyone else have this (or other amount) and have you sought/received an explanation? Who to call?

unrelated--- end of year tax credits for health care premiums. If one files for this tax credit, I assume this is for the months that PBGC was paying our pensions (June on). Can one still use the premium amounts paid for itemizing deductions? Jan through May? What about June through Dec.? I'm not sure how tax credits for this category will be treated. (Surprisingly, for example, any Avaya reimbursement, up to $2500, has no tax consequence, and nothing is reported. This has been confirmed for me on two separate occasions and no 1099, etc. has ever been received, so I wonder about health care tax credits.) Any insights?
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Re: Payment to begin soon?

Postby dmassoni » Tue Oct 30, 2018 8:21 pm

ckatz01 wrote:I think I've read that folks seem to be receiving checks at a 15.44% payout after taxes. Returned home today and found my check at a payout of 14.649% payout. Anyone else have this (or other amount) and have you sought/received an explanation? Who to call?

unrelated--- end of year tax credits for health care premiums. If one files for this tax credit, I assume this is for the months that PBGC was paying our pensions (June on). Can one still use the premium amounts paid for itemizing deductions? Jan through May? What about June through Dec.? I'm not sure how tax credits for this category will be treated. (Surprisingly, for example, any Avaya reimbursement, up to $2500, has no tax consequence, and nothing is reported. This has been confirmed for me on two separate occasions and no 1099, etc. has ever been received, so I wonder about health care tax credits.) Any insights?


Bob's post earlier indicates that most checks were 19.796% of the total Claim Value less 22% FIT.
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Re: Payment to begin soon?

Postby financegrunt » Wed Oct 31, 2018 6:35 am

I too returned home from an out of town trip and found my check from Avaya at a lower payout of 14.431% rather than at a 15.44% payout after taxes. For me, without being provided with the specific gross amount and the withholding detail, it is difficult to understand whether or not Avaya withheld for both federal and state tax purposes.

Then again, this is not too surprising. Avaya has provided nothing to us in terms of information during the entire bankruptcy fiasco so why expect anything different now. Maybe just one more screw-over of retirees by a company that I hope and pray goes out of business as soon as possible.
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Re: Payment to begin soon?

Postby wallerjerry » Wed Oct 31, 2018 6:57 am

I had the same experience regarding my payout being lower than the 15.44% most retirees reported. I called the number on the check stub and a young man went over my payment. The additional amount in my case was for State tax. I live in Georgia and fortunately will get 100% of that amount back when I file my State return next year. I am not sure what basis upon which it was determined to withhold or not withhold State tax, but that is what happened in my case. I agree it would have been good if the check stub detailed the withholding amounts. I assume we will get some sort of tax form like a W2 or a 1099 breaking down the taxes, sometime in January, 2019.

Jerry W.
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Re: Payment to begin soon?

Postby financegrunt » Wed Oct 31, 2018 7:27 am

Thanks for the tip. I called the phone number on the check stub and got the needed tax detail. For me, as a resident of Massachusetts, Avaya was required to withhold for both federal and state tax purposes.
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Re: Payment to begin soon?

Postby ckatz01 » Wed Oct 31, 2018 9:57 am

Thanks to those who replied re lower payout percentages. Seems like payment for state taxes is the answer (I'm in NC). I'll just cash it ASAP before anyother disappearances. CRK
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Re: Payment to begin soon?

Postby dwhisenant » Tue Nov 27, 2018 4:35 pm

Avaya just settled with AT&T for an unspecified amount at or above $1.5M. The list is getting smaller.
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Re: Payment to begin soon?

Postby dmassoni » Tue Nov 27, 2018 5:38 pm

In reading today's docket #2252, it appears the settlement is related to claim # 2497. Docket # 2252 states:

"As required by the GUC Settlement Procedures, Avaya is hereby providing notice
that on November 26, 2018, following written notice to, consultation with, and approval by the
GUC Oversight Administrator, Avaya entered into a settlement with AT&T Services, Inc. and
certain of its subsidiaries and affiliates (“AT&T”) of AT&T’s Claim No. 2497
, Filed in an
unliquidated amount (Claim Nos. 2436; 2529; 2584; 2667; 2717; 2721; 2727; 2728; 2740; 2746;
2751; 2753; 2786; 2788; 2802; 2807; 2817; and 2899 filed by AT&T having been withdrawn by
AT&T), which constitute Oversight Claims."

So, if I am reading this correctly, all claims except for # 2497 have been withdrawn. If true, claim # 2497 is for $2,687,529.23

https://cases.primeclerk.com/avaya/Home ... Value=2497
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Re: Payment to begin soon?

Postby remberger » Thu Jan 10, 2019 12:17 pm

Hi everyone. Happy New Year!

When Avaya made its first distribution for our supplemental pensions, it reserved enough money to pay an additional $33.5 million in claims (at the same rate that we were paid). (Docket 2194) To the extent that any money was left over after those claims were paid, we would all share proportionately in any funds that were left over. If all of the $33.5 million were disallowed, we would get an additional 2.6% distribution beyond the 19.8% we already received. Clearly, not all of the claims will be thrown out, but we should get a little bit more this year. Based on the filings made so far, here is the status of the $33.5 as of January 9.

Claims with no progress (that I can detect) : $4,458,370.
There are 5 claims in this group – 2 by Spirent, and one each by SAE Power, Alan Wattenmaker, and the State Board of Equalization. The biggest claim in this group is SAE Power which Judge Bernstein estimated at $3,252,182. At one time, Avaya asked for this claim to be expunged.

Claims with the objection date extended to March 15: $30,761
There are two claims, both by the state of Tennessee

Claims settled for an unspecified amount: $28,619,200
Four (4) claims have been settled confidentially. (Straight Path, AT&T Services, Charter, and Angela Adams DeCarlo) To the extent that these claims were settled for less than the full amount, there may be some money left in the pot. When Avaya files its next quarterly report to the court, we may be able to deduce the amount paid in total, but not the individual settlements.

Claims settled for the scheduled amount: $25,647
Two claims were settled for the amount assumed in Docket 2194. (Frontier Communications and Michael Carson). There is no left over money from this group to distribute.

Claims settled for $0.
Four (4) claims were settled with no payment. (Polycom, City of Albany, County of San Diego, Jon Shaw). These claims were reserved at $367,242. Funds from these claims will be distributed proportionately when Avaya makes its next distribution.

I intend to keep tracking the status of these until they are all resolved.

Bob Emberger
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Re: Payment to begin soon?

Postby Vbaumwald » Thu Jan 10, 2019 1:02 pm

Bob Emberger as usual let me just say thank you for your diligence...
With enduring gratitude,
Vickie Baumwald
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