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Workers & Retirees

NORTEL NETWORKS RETIREMENT INCOME PLAN

Overview

Plan SponsorNORTEL NETWORKS
Case Number21391900
Date of Plan TerminationJuly 17, 2009
Date of PBGC TrusteeshipSeptember 08, 2009
Participants22422

Status

1: PBGC has taken over as trustee of your pension plan. PBGC is now responsible for paying your pension benefits up to the limits set by law.

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2: PBGC is verifying plan and participant information to calculate pension benefits. PBGC has sent letters to notify all participants and beneficiaries that we took over as trustee of your plan.

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3: PBGC is calculating pension benefits, subject to legal limits, owed to all participants and beneficiaries.

PBGC has finished reviewing and verifying plan and participant information. We are now calculating the pension benefits, subject to the legal limits, owed to everyone in the plan.

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4: PBGC has completed calculating pension benefits, subject to legal limits, owed to all participants and beneficiaries in the plan. We are now sending formal determinations of pension benefits to participants and beneficiaries.

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5. All reviews, verifications and calculations have been completed. Formal determination letters describing the amount of pension benefits have been sent to participants and beneficiaries.

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Related Resources

Your Nortel Pension Benefit: Final Benefit Calculations (as of 3/12/2013)

PBGC continues to calculate the final benefit amount that participants will receive from their Nortel pension plan. This process takes at least three years. However it can take longer, depending on the complexity of the pension plan's provisions and the valuation of its assets.

So far, we have sent final benefit determinations to 3,035 participants in the Nortel Networks Retirement Income Plan. We expect to send final benefit determinations to the remaining 18,700 participants by Sept. 30, 2014.

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