The following chart can help you determine when to make your Pension Application request: *You may not return your application more than 180 days prior to your desired pension effective date. There were significant changes made to the original valuation performed for the PBGC (the Eclat Report) based on this agreement that proved to be more conservative with respect to the ultimate valuation. NWA works closely with plan sponsors and their professional advisors to establish and/or maintain customized retirement programs for both defined benefit and defined contribution plans. The terms of the transaction negotiated between the Independent Fiduciary and Northwest were embodied in a Term Sheet, which was provided to the Department on January 10, 2003. In this regard, section 404(a)(1)(A) and (B) of ERISA requires that fiduciaries discharge their duties to a plan solely in the interests of the participants and beneficiaries, for the exclusive purpose of providing benefits to participants and beneficiaries and defraying reasonable administrative expenses, and with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims. The Series C Preferred Stock ranks senior to Common Stock with respect to liquidation and certain dividend rights. About the Federal Register Pinnacle Stock in that amount was transferred to State Street Bank, the trustee for the Northwest Master Trust for Defined Benefit Plans that holds the assets of all of the Northwest Plans (the Master Trust). This document contains a final exemption issued by the Department of Labor (the Department) from certain prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974 (ERISA or the Act) and from certain taxes imposed by the Internal Revenue Code of 1986 (the Code). contribution program in March in order to cut costs (See We provide retirement plan recordkeeping, administration, actuarial, consulting, compliance and participant services to over 1,100 companies with 425,000 participants and $45 billion in retirement savings. The Plan is a defined benefit pension plan for the benefit of certain union-represented employees. Airlines has frozen two pension plans that cover salaried NORTHWEST AIRLINES CORPORATION (Debtor-in-Possession) (Exact name of registrant as specified in its charter) Registrant's telephone number, including area code (612) 726-2111 Securities registered pursuant to Section 12(b) of the Act: None Securities registered pursuant to Section 12(g) of the Act: Title of each class Name of Rebecca Moore. documents in the last year, 973 # A1430. Open for Comment, Rules of Practice and Procedure; Adjusting Civil Money Penalties for Inflation, Economic Sanctions & Foreign Assets Control, Revised Definition of Waters of the United States, Certain Preserved Mushrooms From France Determination, Energy Conservation Program: Test Procedure for Dishwashers, Prior Label Approval System: Expansion of Generic Label Approval, Rate Adjustments for Indian Irrigation Projects, Establishing the President's Advisory Council on African Diaspora Engagement in the United States, Employee Benefits Security Administration, Valuation in Connection With the Right of First Refusal, Fiduciary Counselors March 5, 2003 Comment, Fiduciary Counselors and Eclat April 25, 2003 Submissions, The Eclat Report and the January 15, 2003 Valuation, Negotiation of the Term Sheet and Omnibus Agreement, The Independent Fiduciary's Determinations, Airline Industry and Northwest Financial Condition, Collateral for Pinnacle Stock Contribution, Northwest May 20 and June 10, 2003 Comment Letters, Fiduciary Counselors' July 11, 2003 Submission, Change of Affiliation of Fiduciary Counselors, Termination of the Independent Fiduciary Agreement, Northwest and ALPA Agreement Regarding Pinnacle Stock, August 6, 2003 Northwest and Independent Fiduciary Response, Enhanced Communication with Plan Participants, https://www.federalregister.gov/d/03-21162, MODS: Government Publishing Office metadata, Current Liability using 6.65% interest rate (IRC 412(l)), Market Value of Assets (with PY02 accrued contributions), Actuarial Value of Assets (with PY02 accrued contributions).
Court Advances Suit Regarding Delta Air Lines' Offset of Pension Information about this document as published in the Federal Register. This additional contribution was agreed upon as a result of a technical concern raised by Fiduciary Counselors regarding covenants in Northwest's $1.125 billion Credit and Guarantee Agreement dated October 24, 2000, as amended under which Northwest is the borrower (the Credit Agreement), with Northwest's bank lenders. In no circumstance, however, may the parties treat Pinnacle Stock previously contributed to the Plans as if it had a higher value than was attributed to it at the time of the original contribution. Please specify which news release when placing your request. ABCs OF RETIREMENT. Sightless Post Credit Scene. They start with the implementation and stay in place to guarantee high quality service and continuity. An Initial Contribution was made in the amount of $41,149,911. Rob has been nothing short of amazing and Im very grateful how closely he was worked us to ensure a smooth conversion. Contact Info NWPS HQ: 4025 Delridge Way SW, Suite 250 Seattle, WA 98106 Ph: 206-933-1500 Fax: 206-938-5987 Email Address: info@nwpsbenefits.com Driving Directions From I-5 North or South Take the W SEATTLE BR exit EXIT 163A toward SPOKANE ST Merge onto WEST SEATTLE BRIDGE Exit onto Delridge Way SW Continue on Delridge Way SW northwest airlines See Omnibus Agreement at section 6.3. , TRIREME PENSION SERVICES (GUERNSEY) LIMITED AS TRUSTEES OF THE AGILITY PENSION PLAN BR0285, Master Trust -- U.S. Bank Pension and Union Pension Plan, Retirement Plan for Employees of Muscular Dystrophy Association, Inc, Northwest Airlines Pension Plan for Contract Employees, C/O JPMorgan Chase Bank, National Association, no registration authority available for this legal entity, C/O Delta Air Lines, Inc., 1030 Delta Boulevard, Atlanta, US-GA, 30354, US, C/O Stonecutter Capital Advisors LLC, 621 North Ave, Suite C110, Hapeville, US-GA, 30354, US, 1030 Delta Blvd, Atlanta, US-GA, 30354, US, 3720 Zip Industrial Boulevard, Atlanta, US-GA, 30354, US, 3675 Zip Industrial Blvd SE, Atlanta, US-GA, 30354, US, 3720 Zip Industrial Blvd SE, Atlanta, US-GA, 30354, US, 1 Porsche Drive, Atlanta, US-GA, 30354, US, One Porsche Drive, Atlanta, US-GA, 30354, US, 85 Mount Zion Rd, Atlanta, US-GA, 30354, US, 1030 Delta Blvd, Dept 982, Atlanta, US-GA, 30354, US, 1301 Central Street, Evanston, US-IL, 60201, US, 10622 Parkview Plaza Drive, Fort Wayne, US-IN, 46845, US, 711 High Street, Des Moines, US-IA, 50392, US, One Westmount Road North, Waterloo, CA-ON, N2J4C7, CA, P O BOX 191 SARNIS HOUSE, Le Truchot, St Peter Port, GY1 4HW, GG, C/O TRIDENT TRUST COMPANY (HK) LIMITED, 14/F GOLDEN CENTRE, 188 DES VOEUX ROAD CENTRAL, Hong Kong, HK, BDO CORPORATE CENTER , 16F SOUTH TOWER, 7899 MAKATI AVENUE, Makati Citi, PH-MDR, 0726, PH, C/O TRIREME PENSION SERVICES (GUERNSEY) LIMITED, SARNIA HOUSE, LE TRUCHOT, St Peter Port, GY1 1GR, GG, 4000 West Broadway Avenue, Robbinsdale, US-MN, 55422, US, 161 N Clark Street, Suite 3550, Chicago, US-IL, 60601, US, Global Legal Entity Identifier Foundation (GLEIF). The Northwest board of directors determined that at this time the company could not legally redeem the 4.8 million shares of its Series C Preferred Stock still outstanding and made the following statement: After a thorough review of the legal restrictions applicable to the company, the board concluded that Northwest was not able to buy back the Series C Preferred Stock, at this time. United Airlines and US Airways have already handed Northwest Airlines Pension Plan For Pilot Employees litigation, intellectual property, and other public records. Swope Equipment & Supply Company, Inc. is a member of the Better Business Bureau. has provided valuable retirement benefits for members of the International Association of Machinists and Aerospace Workers and their families since 1960. Any change to the ASA, including any early termination of the ASA by Pinnacle, must be approved by a majority of Pinnacle's independent directors, which majority must include the director designated by the Plans. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, What Led to Europes Deadliest Train Crash in a Decade, This Week in Crypto: Ukraine War, Marathon Digital, FTX. over pension plans to the Pension Benefit Guaranty
A combination of plan design, web/mobile tools, live call support, financial wellness tools and personalized outreach to help participants achieve their personal financial goals. Defined Benefit Master Trust : C/O Delta Air Lines, Inc., 1030 Delta Boulevard, Atlanta, US-GA, 30354, US: 2012-12-18: Delta Pilots Disability and Survivorship Plan : C/O Delta Air Lines, Inc., 1030 Delta Boulevard, Atlanta, US-GA, 30354, US: 2012-12-04: Northwest Airlines Pension Plan for Salaried Employees 702 King Farm Boulevard, Suite 400, Rockville, MD 20850 / +1 212-944-4455 / issgovernance.comAMR Under Pressure to Preserve Pensions .
Page 49 of 61. Northwest strongly believes that Pinnacle Stock has significant value and that the value of Pinnacle Stock will increase when the IPO market improves for regional airlines. Fax supporting documents to the Fund Office at 202-463-8098 or 202-457-8653, Fax the Fund office at 202-463-8098 or 202-457-8653(please. The Delaware law does not apply to the repurchase of Pinnacle Stock, which is not treated as NWA Corp.'s own stock. Legislative Alerts. Copyright 2023 Asset International, Inc. All Rights Reserved. To help determine when you make your Pension Application request, refer to the Pension Effective Date chart below.
Former Employees and Retirees | MetLife For purposes of the funding standard account of each Plan, the value of the shares of Pinnacle Stock contributed to each Plan will be determined by the Independent Fiduciary. Read Our Story Our Approach In its deliberations, which included its analysis of all aspects of the transactions, the Independent Fiduciary has consistently represented for the record that no contribution of Pinnacle Stock will be accepted on behalf of the Plans unless such transactions are found by the Independent Fiduciary to be in the interests of the Plans.
(e) A statement of the relevance or significance accorded to the valuation methodologies taken into account. The Proposed Exemption was requested in an application filed on Start Printed Page 49793behalf of Northwest pursuant to section 408(a) of the Act and section 4975(c)(2) of the Code, and in accordance with the procedures set forth in 29 CFR part 2570, subpart B (55 FR 32836, August 10, 1990). The two construction pension plans will receive more than $70 million in combined funds. Old Friends Locator Program. A comprehensive set of representations and warranties relating to both Pinnacle, Northwest and its affiliates. At the present time, the Board was unable to make this finding. Section 7.2(b) of the Omnibus Agreement requires only that the appointment of a new CEO be approved by a majority of Pinnacle's board (excluding the Northwest Director), and does not make reference to the compensation of Pinnacle's CEO. Bloomberg Law speaks with prominent attorneys and legal scholars, analyzing major legal issues and cases in the news. The valuation prepared by Eclat took into consideration current industry conditions. As a condition to any such contribution by Northwest, the Independent Fiduciary must determine on behalf of the Plans that the acceptance of the contributed shares is prudent and in the interests of the Plans' participants and beneficiaries and otherwise consistent with the fiduciary standards of ERISA. We want to do so as soon as possible. be covered under the disability retirement provisions of According to the court order, while employed by Delta, the plaintiffs suffered .
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