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#51
General Discussion / Re: Redemption of CH2M shares
Last post by rysiek - January 05, 2018, 09:45:32 PMToday (Jan 5th) I received a check (US spelling) in $ for the CH2M shares I elected to cash in.
There was no covering letter or accompanying info just the cheque. The amount was short by exactly 28% which I presume is the withholding tax despite having sent the W-8BEN form with my Election Form.
I suppose my only recourse is to write back to Shareowner Services in St Paul, Minnesota to see if they can do a wire transfer of the corrected amount in sterling as CH2M's investment bankers (Neidiger Tucker Bruner) used to do.
Richard Sewerniak
There was no covering letter or accompanying info just the cheque. The amount was short by exactly 28% which I presume is the withholding tax despite having sent the W-8BEN form with my Election Form.
I suppose my only recourse is to write back to Shareowner Services in St Paul, Minnesota to see if they can do a wire transfer of the corrected amount in sterling as CH2M's investment bankers (Neidiger Tucker Bruner) used to do.
Richard Sewerniak
#52
General Discussion / Redemption of CH2M shares
Last post by sreevesjc - January 05, 2018, 07:41:22 AMAs alluded to in Newsletter No. 28, Jacobs offered CH2M shareholders $88.08 per share which had previously been valued at $50.69 on 28 April 2017. Shareholders were offered a choice of cash and/or Jacobs shares. Amazingly the demand for Jacobs shares was oversubscribed and allocations scaled back. All CH2M stockholders who elected to receive 100% cash consideration would receive 100% cash consideration.
Maybe.
The change of administration from Neidiger Tucker Bruner to Computershare (before and unrelated to Jacobs' takeover) was far from smooth. The latter may be described as the Registrars from Hell. Despite registering for an on line account with W-8BEN, bank details and having sold some CH2M shares in April, Computershare wrote in early December to say I didn't exist! Three phone calls to USA (cumulatively over one hour) were inconclusive, being transferred between departments, and emails from dummies gave answers to questions I didn't ask. Then yesterday a letter stated the 'check... was mailed December 15, 2017'. (The $ amount in the letter was wrong). Still waiting. No wire transfer obviously, even though they have or did have my bank details at one time.
It would be interesting to know if others have had similar difficulties?
Maybe.
The change of administration from Neidiger Tucker Bruner to Computershare (before and unrelated to Jacobs' takeover) was far from smooth. The latter may be described as the Registrars from Hell. Despite registering for an on line account with W-8BEN, bank details and having sold some CH2M shares in April, Computershare wrote in early December to say I didn't exist! Three phone calls to USA (cumulatively over one hour) were inconclusive, being transferred between departments, and emails from dummies gave answers to questions I didn't ask. Then yesterday a letter stated the 'check... was mailed December 15, 2017'. (The $ amount in the letter was wrong). Still waiting. No wire transfer obviously, even though they have or did have my bank details at one time.
It would be interesting to know if others have had similar difficulties?
#53
General Discussion / Re: Security of HPS2? Opting o...
Last post by Croley - October 29, 2017, 01:07:29 PMQuote from: mikedyer on July 28, 2016, 06:27:20 PM
I am seriously considering going the PPA route now.
Me too Mike, did you go for it?
#54
General Discussion / Re: PO Determination - Mr Y Tr...
Last post by PhilipAlexander - October 13, 2017, 08:03:16 AMI suppose we should expect nothing else from "The Management" of either the company (whatever that is anymore) or the Trustees (I wonder if that is the reason that DJP resigned......). It's a pity I can't just take out a lumpsum representing future lifetime income, at least that way my financial future would be in the hands of someone trustworthy. I used to work for an ethical and moral company. How its standards have collapsed since I left in 2004.
#55
General Discussion / Dereck Pollock resignes
Last post by leonegr - August 16, 2017, 11:18:32 AMHalcrow pension site informs that Dereck Pollock and Catherine Marlane have resigned from the board of trustees.
#56
General Discussion / Re: PO Determination - Mr Y Tr...
Last post by Jane Tordoff - August 09, 2017, 10:45:49 AMI find this unbelievable.
"The letters may have been on company headed paper but the sender is either the Pensions Manager or a member of the Pensions team. I do not find that these letters are a promise of benefits from the employer as Mr Y attests or that these would be guaranteed by the employer."
I find this paragraph very disturbing. Does this mean the communications we received last year signed by the Pensions Manager or a member of the pensions teams are not legally binding?
I agree with Chris, what planet are these people on. Next time we receive communication from the Pensions Team, we should challenge what they are saying more carefully
"The letters may have been on company headed paper but the sender is either the Pensions Manager or a member of the Pensions team. I do not find that these letters are a promise of benefits from the employer as Mr Y attests or that these would be guaranteed by the employer."
I find this paragraph very disturbing. Does this mean the communications we received last year signed by the Pensions Manager or a member of the pensions teams are not legally binding?
I agree with Chris, what planet are these people on. Next time we receive communication from the Pensions Team, we should challenge what they are saying more carefully
#57
General Discussion / Re: PO Determination - Mr Y Tr...
Last post by chrishoggart - August 08, 2017, 08:27:07 PMI find this determination quite unbelievable. In Paragraph 26 the PO writes the following:
'But I find that these letters were all written on behalf of the Scheme and not by the employer. The letters may have been on company headed paper but the sender is either the Pensions Manager or a member of the Pensions team.'
The letters are on company headed notepaper but they're not from the employer! What planet is this man on?
'But I find that these letters were all written on behalf of the Scheme and not by the employer. The letters may have been on company headed paper but the sender is either the Pensions Manager or a member of the Pensions team.'
The letters are on company headed notepaper but they're not from the employer! What planet is this man on?
#58
General Discussion / PO Determination - Mr Y Trnasf...
Last post by Ken Falls - August 08, 2017, 09:41:16 AMThe first PO determination has been issued. This was an individual complaint by Mr Y but may be of interest to those who transferred funds into HPS.
Here is the link
https://www.pensions-ombudsman.org.uk/wp-content/uploads/PO-14236.pdf
Here is the link
https://www.pensions-ombudsman.org.uk/wp-content/uploads/PO-14236.pdf
#59
General Discussion / Re: Jacobs Takeover
Last post by Tony Green - August 06, 2017, 01:30:41 PMAccording to HPS letter 4 August on the HPS2 website:
'However, the important point for HPS2 at the moment is that the takeover will
not of itself change any of the arrangements currently in place for supporting and operating the
scheme. '
Lets hope so.
'However, the important point for HPS2 at the moment is that the takeover will
not of itself change any of the arrangements currently in place for supporting and operating the
scheme. '
Lets hope so.
#60
General Discussion / Re: CH2M is no more
Last post by sreevesjc - August 02, 2017, 01:37:03 PMSo now check out the pension. Starting with the 8-K terms of the merger (109 pages):
http://d18rn0p25nwr6d.cloudfront.net/CIK-0000777491/26e6ef30-5bfd-4827-90b9-92b770a7d97a.pdf
A word search on 'pension' recognises that a UK pension scheme exists.
http://d18rn0p25nwr6d.cloudfront.net/CIK-0000777491/26e6ef30-5bfd-4827-90b9-92b770a7d97a.pdf
A word search on 'pension' recognises that a UK pension scheme exists.