Supplemental Pension Terminated - Need Proof

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Supplemental Pension Terminated - Need Proof

Postby MissouriRetiree » Tue Jan 22, 2019 6:20 pm

As part of a divorce proceeding I have to prove that Avaya terminated the Supplemental Payment Plan as of January 2017. I am one of the 800+ who retired in 2001 and per ERISA rules was paid a portion of my Avaya pension via Supplemental Plan (out of Avaya's Operation Income and also knows as a Non-Qualified Plan). I received letters in January and February 2017 on Avaya letterhead stating Avaya would not pay the February and March 2017 Supplemental Payment. Since that time I have not seen anything on Avaya or Prime Clerk letterhead that states the Supplemental Plan payments are permanently ended. And yes, I did receive the cash out payment several months ago but that did not include anything on official letterhead stating the payments are ended permanently. Could someone point me in the right direction to find proof that they are gone for good? Much obliged.
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Re: Supplemental Pension Terminated - Need Proof

Postby Vbaumwald » Tue Jan 22, 2019 6:53 pm

You ask an interesting question because we all know it happened however I don’t recall ever getting anything official from Avaya stating as such..I might look at the official correspondence we received here from Vern Larson as well as parts of the actual bankruptcy lawsuit info, but I think the things from Vern would be easier to find as long as that is acceptable as proof...it kind of pathetic really when you think about the impact it had on 800+ and that there was nothing really official sent out by Avaya unless I am completely forgetting something..which is possible, but I don’t think so.
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Re: Supplemental Pension Terminated - Need Proof

Postby MissouriRetiree » Tue Jan 22, 2019 7:14 pm

Thank you for your reply. I have been in contact with Vern and he has offered to author a letter quoting others that the Supplemental ended and will not return. My reason for posting here is that I am concerned with how well an "unofficial" letter will stand up in court. My attorney is asking for proof and I hoped I could find that in all of the documentation I have saved for the past 16 years. No luck. I've found newspaper articles regarding the suspension of the Supplemental Plan but nothing from Avaya, Prime Clerk, AON or court decisions. I'm in contact with Avaya Pension Service Center but the agent I spoke with was clueless in this area so I'm not optimistic I'll see anything from the company. But I do appreciate you responding if for no other reason than the affirmation that I'm not the only one in disbelief we most likely have never been officially notified the Supplemental Plan is terminated permanently.
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Re: Supplemental Pension Terminated - Need Proof

Postby Vbaumwald » Tue Jan 22, 2019 7:46 pm

Yes, it really is quite unbelievable ...just shaking my head
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Re: Supplemental Pension Terminated - Need Proof

Postby vernlarson » Wed Jan 23, 2019 12:03 pm

All- Supplemental Pension Terminated

I have requested from Avaya an official letter, notice - memo stating what transpired with our Supplemental Pension.

Prime Clerk has all of the court documents concerning the legal portion of the handling of our Supplemental Pension Plan.

Will see if Prime Clerk can do a search so they can provide some Docket numbers for us to refer to if needed.

Once I have more information I will send a notice out to our Avaya Chapter of NRLN members and post it on this site as well.

Regards, Vern Larson
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Re: Supplemental Pension Terminated - Need Proof

Postby financegrunt » Wed Jan 23, 2019 1:53 pm

This may help you out from an official/legal perspective!

The Avaya Holdings Corp. (AVYA) FORM 10-Q (Quarterly Report) as filed with the SEC on March 2, 2018 contains the following wording on page #27, “On December 15, 2017, the unfunded ASPP, a non-qualified excess benefit pension plan, was also terminated and settled. Benefit liabilities for ASPP participants were included as allowed claims in the general unsecured recovery pool. Settlement consideration of $17 million in the form of allowed claims payable to ASPP participants was estimated based upon claims data as of the Emergence Date as amounts due to individual general unsecured creditors had not been finalized and paid. As a result of the termination, the Company's projected benefit obligation was reduced by $88 million."

Note: ASPP (Avaya Supplemental Pension Plan)
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Re: Supplemental Pension Terminated - Need Proof

Postby vernlarson » Wed Jan 23, 2019 2:04 pm

Thanks, Mr financegrunt very good official information. I know it has been stated in the past.

That is exactly what the one posting the request can use for his legal case.

Vern
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Re: Supplemental Pension Terminated - Need Proof

Postby MissouriRetiree » Wed Jan 23, 2019 4:48 pm

Thank you Mr. Grunt! I found the full filing on Avaya's web site under the "Financial" section: https://investors.avaya.com/financial-i ... fault.aspx

For anyone else needing this information, the quote is on page 27 of the March 2, 2018 SEC Filing. I have sent the entire SEC filing to my attorney this afternoon. You have most likely saved me a lot of time and effort. Best wishes.
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