Chrysler announced changes that will affect the participants of the Salaried Employees’ Income Deferral Plan (SEIDP) and the Executive Employees’ Supplemental Savings Plan (ESSP).
Effective January 2009, the SEIDP and the ESSP plans will no longer accept deferrals. In addition, all distribution elections previously in effect are cancelled and your total account will be distributed to you as a lump sum in January 2009. However, if you do not want to receive the lump sum distribution in January 2009, there are two alternatives.
- First would be to elect to receive the lump sum in any year 2010 through 2013;
- Second alternative is to receive up to five annual installment payments in years 2009 to 2013.
Elections regarding the distribution of your lump sum must be made by December 31, 2008. If you would like assistance in choosing an option as it relates to your personal financial plan, do not hesitate to call us toll-free at 1-866-444-6246 to speak with a Financial Advisor.
For questions regarding any of the Chrysler Savings Plans, feel free to contact Mainstay Capital Management toll-free at 1-866-444-6246 or send an email to This email address is being protected from spambots. You need JavaScript enabled to view it..