https://dm.epiq11.com/#/case/LBH/info Employee Matters
Plan Termination – Lehman Brothers Savings Plan
The Board of Directors of Lehman Brothers Holdings Inc. approved a resolution to terminate the Lehman Brothers Savings Plan (the “401(k) plan”) effective April 30, 2018. All plan participants were required to withdraw their plan balances by June 29, 2018.
Account balances for participants who did not take action were rolled over to a Safe Harbor Individual Retirement Account (IRA) in the participant’s name, at Retirement Clearinghouse, LLC (RCH). Affected individuals should contact Retirement Clearinghouse LLC for important information regarding their account.
For any questions regarding your Lehman Brothers Savings Plan account up to and including the distribution date, please contact the Plan’s record keeper, Fidelity, at 1-800-835-5095.
Plan participants may contact the LBHI Human Resources Service Center at 866-994-6381 (toll free) or via email at hrservices@lehmanholdings.com .
Lehman Brothers Savings Plan Participants with Lehman Stock in the Plan
On March 6, 2012, Lehman Brothers Holdings Inc. emerged from bankruptcy. As a result, shares of Lehman Brothers common stock (“Lehman stock”) were delisted from the stock market and were no longer tradeable.
When the Lehman stock was cancelled on March 6, 2012, one new share of Lehman stock (“Plan Trust Share”) was issued to a Bankruptcy Plan Trust which holds the share for the benefit of Lehman stock holders. The Plan Trust Share represents rights consistent with the relative priority and economic entitlements of shareholders immediately prior to the bankruptcy. In 2012, an escrow position, held by the Lehman Brothers Savings Plan, was created to act as a placeholder to represent Plan participants’ interests in the Plan Trust Share in the event of any potential distributions. The escrow position mirrors the number of shares of Lehman stock Plan participants held in their Plan accounts as of March 6, 2012. Participants’ interest in the Plan Trust Share held in their Lehman Brothers Savings Plan accounts at Fidelity presently has no market value and cannot be traded.
Following the termination of the Lehman Brothers Savings Plan, plan participants’ interests in the Plan Trust Share that were held through their plan account were transferred to the Bankruptcy Plan Trust. Plan participants’ interests have not been forfeited and their economic entitlements will be on record with the Bankruptcy Plan Trust.
At this time it is not anticipated that any distribution will be made to any former holder of Lehman stock.
Although highly unlikely, in the event of a distribution for the benefit of shareholders, the Bankruptcy Plan Trust will arrange for such distribution to shareholders of record. Should any distributions be made on the Plan Trust Share, they will be distributed to Plan participants directly by the Bankruptcy Plan Trustee.
Benefits and Payroll Questions
Current and former Lehman Brothers employees may contact the LBHI Human Resources Service Center at 866-994-6381 (or via email at hrservices@lehmanholdings.com) with any U.S. benefits questions.*
For any questions from former or current Lehman Brothers employees about W-2 forms for 2008, please contact: payroll@lehmanholdings.com or 866-994-6381.
* Former Lehman employees now employed at Barclays should contact the Barclays human resources service center at 212-526-2363 for any Barclays related matters. Legacy Lehman matters can be directed to the LBHI HR Service Center, using the above LBHI HR Service Center contact information.