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QUESTIONS ABOUT THE FINAL DISTRIBUTION
- When will I be paid?
- Will I have to pay taxes on amounts that I receive?
- How much money will I receive?
- Will I receive a Form 1099?
- I never received my check. What should I do?
- I lost my check. What should I do?
- I know that a check was sent to a Class Member who is now deceased. What do I need to do to get the check reissued in my name?
- What happens to the money left over in the Trust after Class Members have been paid?
- Why did it take so long to get my money?
1. When will I be paid?
The final distribution will occur in July 2005.
2. Will I have to pay taxes on the amounts that I receive?
Appropriate tax withholdings will be made from Class Member payments. Class Members seeking individualized tax advice will have to consult their own tax advisers.
3. How much money will I receive?
Your claim form should include an estimated payment amount. What's more, we feel confident that claimants will receive more than initially estimated in their distribution packages. Additional money was available for distribution because of the successful efforts of class counsel, the trustee, and the service providers to keep administrative costs to a minimum.
If you received a payment during the first distribution, then you can expect to receive roughly the balance of what you are owed at the final distribution, minus any tax withholdings, in July 2005. All other eligible Class Members and Successors of Class Members will receive their complete payment at that time, too.
4. Will I receive a Form 1099?
All Class Members will receive a Form 1099 (January 2006) indicating the amount of interest they were paid in the final distribution. Note that this is a change from the December 2003 initial distribution, during which only those Class Members receiving $600 or more in interest were sent a Form 1099.
5. I never received my check. What should I do?
If you do not receive a check by July 31, contact the Settlement Administrator.
6. I lost my check. What should I do?
Send a letter to the Settlement Administrator requesting that your original check be voided. Once the Settlement Administrator voids the original check, it will be able to send a new check to you.
7. I know that a check was sent to a Class Member who is now deceased. What do I need to do to get the check reissued in my name?
You will need to provide documentation showing that you are an eligible Successor of the deceased Class Member. Contact the Settlement Administrator for assistance.
8. What happens to the money left over in the Trust after Class Members have been paid?
At the final distribution, all but a small amount of the money in the Trust will be paid to Class Members and eligible Successors of deceased Class Members. The leftover money will be used to cover final settlement administration expenses. If any of that money is not used, it will be donated to a charity benefiting federal employees.
9. Why did it take so long to get my money?
There was a delay between the initial and the final distribution to allow for the resolution of all Class Member challenges, claims for class membership, and successor claims and challenges. Once all of those were resolved, we were able to do the final calculations of award amounts and have the final distribution.