Quebecor Pension (formerly Arcata Graphics)

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Discouraged

Omaha, NE

#1 Aug 21, 2009
If you are due retirement benefits from QW that were from the days of Arcata Graphics, you should check your benefits. It seems that QW managed this account poorly and it is now underfunded. I don't think the bankrupcy agreement allows for this underfunded pension plan.
One Who Knows

Dunkirk, NY

#2 Aug 21, 2009
Discouraged wrote:
If you are due retirement benefits from QW that were from the days of Arcata Graphics, you should check your benefits. It seems that QW managed this account poorly and it is now underfunded. I don't think the bankrupcy agreement allows for this underfunded pension plan.
Just received letter in the mail today, that lump sum will be allowed again, effective 7/21/09 the day Quebecor emerged from chapter 11. The catch is that only 50% will be allowed as a lump sum, the rest as anuity. The reason is that the retirement progam is only 60 to 80% funded. If it is funded above 80%, the full lump sum will be allowed in the future. No guarantees!!! This does not apply to retirees already receiving their annuities.
Concerned in SC MN

Anoka, MN

#3 Aug 22, 2009
Received a letter here today as well. Personally want to grab what remains and dash. What do they mean by anuity... stock...??
One Who Knows

Dunkirk, NY

#4 Aug 22, 2009
Concerned in SC MN wrote:
Received a letter here today as well. Personally want to grab what remains and dash. What do they mean by anuity... stock...??
When you decide to retire and notify your H.R. dept. You will be sent a packet with several options. 5yr. certain - 10 yr. certain - joint & 50%- joint & 75%- joint & 100% and how much your monthly payout will be, based on you & your wifes age and your length of service. With explainations of each option.
short_changed

Turlock, CA

#5 Aug 22, 2009
"The reason is that the retirement progam is only 60 to 80% funded. If it is funded above 80%, the full lump sum will be allowed in the future. No guarantees!!! This does not apply to retirees already receiving their annuities."

This is a LOAD of crap!...My question is why is the fund under funded? Is this legal? Its sounds like a promise to be kept at a later date and we all know how this company is about keeping their word. Like you said "NO GUARANTEES"
One Who Knows

Dunkirk, NY

#6 Aug 22, 2009
short_changed wrote:
"The reason is that the retirement progam is only 60 to 80% funded. If it is funded above 80%, the full lump sum will be allowed in the future. No guarantees!!! This does not apply to retirees already receiving their annuities."
This is a LOAD of crap!...My question is why is the fund under funded? Is this legal? Its sounds like a promise to be kept at a later date and we all know how this company is about keeping their word. Like you said "NO GUARANTEES"
To the best of my knowledge Quebecor World has underfunded the pension account for years, legally!!! For the sake of keeping money to play with at the expense of the workers. Many companys do this as long as there is enough money in the fund to cover the benefits already being received. It shouldn't affect the employees, unless the company files Chapter 11 bankruptsy, as we all know, does'nt allow us to receive our lump sum benifit.
Quebecor Worker

Hendersonville, TN

#7 Sep 4, 2009
Does anyone know how the pension works? Like if you're length of service is 3 years you get x% or if you're there 5 years you get x%, etc? Hopefully someone knows, I don't want to work her any longer than I have to. Thanks
JPB

Buffalo, NY

#8 Sep 4, 2009
Does anyone know what happens when you file for medical disabiltiy retirement? I was told that you get 97% of your pension even though you are not of retirement age.
Quebecor Wife

College Grove, TN

#9 Sep 10, 2009
Billy since you are back on could you answer some of the above questions you seem to be one of the people who answers questions without being condesending.
Billy

Sussex, WI

#10 Sep 10, 2009
Quebecor Wife wrote:
Billy since you are back on could you answer some of the above questions you seem to be one of the people who answers questions without being condesending.
__________

You're giving me WAY too much credit! I really don't know the answers to those things, and I don't want to just guess and give out bad information.
help in nevada

Modesto, CA

#11 Sep 15, 2009
ive been trying to get my pension since may no luck i need help
One Who Knows

Dunkirk, NY

#12 Sep 15, 2009
help in nevada wrote:
ive been trying to get my pension since may no luck i need help
Don't you have an H.R. person you can contact for this info???
dontknowshit

United States

#13 Sep 16, 2009
One Who Knows wrote:
<quoted text>
Don't you have an H.R. person you can contact for this info???
With a name like One Who Knows you would think that you would know more or have more info. It might be time to change your name to something else.
One Who Knows

Dunkirk, NY

#14 Sep 16, 2009
dontknowshit wrote:
<quoted text>
With a name like One Who Knows you would think that you would know more or have more info. It might be time to change your name to something else.
I don't think I deserved a mean spirited comment like that!!!
I was only trying to steer this person in the right direction, this is where I got all of my information.
Obviously you have nothing to contribute to help this person, other than bashing others!!!
joe

Tonawanda, NY

#15 Feb 3, 2010
Discouraged wrote:
If you are due retirement benefits from QW that were from the days of Arcata Graphics, you should check your benefits. It seems that QW managed this account poorly and it is now underfunded. I don't think the bankrupcy agreement allows for this underfunded pension plan.
how do i check my benefits, i am one of then and cant seem to find any info on who is handling the plan, depew office will not answer the phone
supeerglide3242

Tonawanda, NY

#17 Mar 14, 2010
One Who Knows wrote:
<quoted text>
Just received letter in the mail today, that lump sum will be allowed again, effective 7/21/09 the day Quebecor emerged from chapter 11. The catch is that only 50% will be allowed as a lump sum, the rest as anuity. The reason is that the retirement progam is only 60 to 80% funded. If it is funded above 80%, the full lump sum will be allowed in the future. No guarantees!!! This does not apply to retirees already receiving their annuities.
i have called ursula at hr. many times she says no lump sum is available, how could they offer to some and not others, i worked there 16 yrs. where is my lump sum.
supeerglide3242

Tonawanda, NY

#18 Mar 14, 2010
joe wrote:
<quoted text> how do i check my benefits, i am one of then and cant seem to find any info on who is handling the plan, depew office will not answer the phone
they are the worst people to deal with, they i blowing you off just like me,i worked there 16 yrs and have never been notified of any changes in the plan, nothing but excuses, have spent days online tracking this plan they were bouncing from one investment company to another. you have to keep calling hr. depew office. my next step is to get a lawyer, P.S. the office claims they don't pay any interest over the yrs. so they used my money for 16 yrs. if you don't have any luck call the union hall
Need help please

Spring Hill, TN

#19 Aug 13, 2010
My uncle worked for Arcata Graphics and doesn't know who to contact? Is there a number or do i need to call QW? Any info would help?
NickDanger

United States

#23 Aug 14, 2010
JPB wrote:
Does anyone know what happens when you file for medical disabiltiy retirement? I was told that you get 97% of your pension even though you are not of retirement age.
97%? WTH? why not make it 96.9 or 97.1...where do U people hear these things? Medical dis is different from pension...

Medical generally is 60%
Pension shouldn't be effected...
jimk

Buffalo, NY

#24 Sep 24, 2010
how do i check what retirement benefits i will be entitled to when i reach my retirement.i worked there 9 years and left arcata/qubecor for an other job back in the early 90's.

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