Verizon sent a letter to our members on December 27, 2010 from Fidelity. The letter explains the option to defer the Corporate Profit Sharing (CPS) award that will be paid on March 3rd or 4th in 2011. The minimun distribution amount for the 2010 plan year is $700.00 The actual amount will be determined in Febuary 2011.
It is important to note that members who decide to defer their award must do so between January 3, 2011 and Febuary 4, 2011. Please read the attached letter “How to defer your CPS award to the savings plan”.