SISIP COLA RETRO (Assorted Topics)

Navrat,

If you see that individual soon, can you ask if they received it regular mail.

Also, can you ask if they had and increase - or decrease in their Monthly payment, as of the latest adjustments in our Monthly payments.

Thanks.

Just and update from my previous post -

I have just read and update from the same poster who posted the info from my previous post -

Apparently according to the poster - the poster said that we will not be notified of the retro - this must mean that MC will be sending them out by mail - and the only way we will know anything - is if, and when the mail arrives.

This info is not coming from MC themselves - it is and individual on FB who stated that they were told this info -

So not concrete - just passing on of what I have read.

For what it's worth - I just read on LNVB that MC has received it's first batch of " funds " from Manulife - COLA PAYOUT.

One would think this is a reasonable question for our legal firm to answer, they are after all getting paid for the service so why can't they put some fires out by providing some guidance? Unacceptable!

You sorta answered your own question Nav. They saw some money and went for it!

So the question is did they compare the reductions to the increases? Let's put it this way if your monthly LTD went down then you better not get a lawyer bill for your 2015 tax return. Whereas us who did get an increase will get a lawyer bill.

So the secret word of the day is...GREED.

Navrat,

Can you share what you have been told with respect to two different answers ?

AGREED IDIOTS

That does make sense to me COD.

In the cola court order it states any ( NEW ) Class Members would be eligible for the 60 day opt out period.

So from your post it looks like any members who have had a reduction in their Monthly LTD benefits because of the latest cola correction would not benefit from the Jan/Feb cola payout.

Those that received and increase should benefit from the Jan/Feb payout.

As you have stated on your positive note, those that saw a reduction in their Monthly LTD should nor worry about any overpayment that they would be charged as a result of this latest cola correction.

That is the way in which I understand it to be today, I could be wrong, please feel free to correct me.

Thanks for your post, it has helped me understand this situation of this latest correction, and the cola payout.

Thanks for all your input on this issue. Well guess what! I got an email from Kristine Hunter at Mcinnes Cooper. She said because I am one of the old members of the class action law suit, I can't opt out. This law Firm never fails to show how greedy it is! If the colas were wrong then they should have got a positive result for all members. On a positive note , when I talked to Dan Wallace a few weeks ago he said that there were provisions in the agreement that states that Manulife cannot go after any overpayments from this agreement.

wrench good point I can see that but given the fact that how they do their jobs can very seriously effect the lives of disabled vets one would think that wouldn't matter. so I think its because they are idiots.

propat

Don't really know what to make of this para from the cola court order, it reads as follows:

( For Class Members who continue to be in receipt of LTD benefits, their benefits shall be adjusted on a go forward basis to reflect the corrected amount related to the Administrated Correction )

We did get a correction, some more, some less, mine was less, however, my retro was 26 years, so given the number of years involved in my settlement, it is still a possibility that I could get a cheque come Jan/Feb.

More information is needed on the recent correction to know exactly how this correction affects the cola payout.

ya bigrex with the COLA cap at 2% I cant see any scenario where they would have overpaid so much doing the calcs post deductions that it wouldn't be AT LEAST made up when the put in the correct COLA and then did the calcs pre deduction . it doesn't make sense ANYONE could loose money .

as for SISIP not miscalculating by much wellllll ,; buds I gotta tell ya some of these people have no clue about how to do their jobs .

I seen the letters and read the notes of correspondence with them and they can miscalculate to the toon of 47,000 .

propat

That is what I cannot figure out. I thought the whole COLA aspect of the lawsuit was because it was discovered that SISIP had only applied the annual COLA adjustment on the amount they actually paid out after deductions, instead of based on the gross 75% amount, or even just including the PA amounts.

Ex Cpl bloggings 75% amount was $3000. His PA pension was $1500, and his CF annuity was $1000.

So if you were only given a max of 2% on say $500/month, ($10/mo), instead of 2% of say $2000/month which would include the PA ($40/mo), or the entirety of the 75% ($60/mo). So if they did in fact base COLA on the reduced amount, even a slight overpayment, should not equal more money than using a lower percentage on a higher base amount. So say CPI for one year was paid at 2%, instead of 1.5%, that would equal a $2.50/ mo overpayment, but if they were supposed to calculated that 1.5% on $2000, then the increase would have been $30/mo, keeping the Veteran in the black.

And that would be an extreme situation, because I cannot see SISIP miscalculating increases by more than 1 or 2 percent.

Your correct, Propat, everyone should be on this!

nav tell everyone of these guys to do the same thing.

propat