Nortel Networks Corporation, April 2017
April 20, 2017
Nortel Networks Limited – Audio and Webcast discussion about eligibility for direct transfers to RRSPs for certain employment claim payments
This discussion is targeted at a narrow set of former Nortel employees and will deal with how payments from E&Y for compensation claims may be eligible for deposit into RRSPs.
If you meet the following criteria you may be interested in attending:
If you are 71 years of age or younger as of December 31st, 2017 (i.e. age eligible to make RRSP contributions), and
- you have RRSP contribution room and/or
- have a claim for severance or termination pay, TRA (Transition to Retirement Allowance) and/or RAP (Retirement Allowance Plan) and you had service with Nortel prior to 1996, then please read on.
Koskie Minsky LLP together with its advisors will be holding a participatory conference call and webcast accessible by internet or telephone (see below) on Thursday April 27th, 2017 at 11:00 am EDT to discuss the process that Ernst and Young (the Monitor) will implement in connection with the upcoming claims payments that may be eligible for direct transfer into individual RRSP accounts. The objective is to explain and address questions about the availability of transfers, although we don’t yet have a final determination as to how these will be dealt with upon distribution. We felt that it would be helpful to discuss your concerns and share the information we currently have. The call will also address questions on tax withholdings on the distributions. The presentation will be done in English and French and there will be the opportunity to ask questions in both languages.
The call is scheduled for one hour and will start with a brief presentation – with slides for those who access via internet – followed by a question and answer period. You will be able to ask questions orally or by email. To view a copy of the PowerPoint presentation please click here.
To access the call please use one of the following:
- Web Access (turn on your microphone and speakers): http://bell.media-server.com/m/p/d535ksrx [LINK NO LONGER ACTIVE]
- Toll-free telephone dial-in: please call Koskie Minsky’s Communication Department at 1-866-777-6344 to register for the dial-in option.
The call will be recorded and the recording will be accessible on Koskie Minsky’s website by May 1st for those who are not able to attend the live event.
Feel free to share the details of this call with any other former Nortel employees that may be interested in this topic.