I just received a notice from Avaya Benefits saying that Avaya missed its April quarterly contribution payment to the Pension Plan for Salaried Employees. Is this the first time this has happened? I know that the plan is underfunded, but don't recall that Avaya notified me that it missed a payment before. Avaya's claim is that they were unable to make the payment because of the Chapter 11 bankruptcy case that it has begun. Is any of this new news or surprising given Avaya's current financial situation?
Andy Franklin
Retired 2001 Denver