KODAK RETIRED EMPLOYEES BENEFICIARY ASSOCIATION (KREBA)

 

Dear KREBA Participant or Beneficiary,

Re: Termination of KREBA and Transfer of All Benefits to MetLife

We write as our time as volunteer Trustees of the Kodak Retired Employees Beneficiary Association (“KREBA”) has come to a close, and we have wound down the operations of the KREBA Plan and Trust. As described below and in previous letters, the obligation to pay benefits laid out in the KREBA Plan were transferred to MetLife, so the termination of KREBA will not affect the amount or frequency of any benefits due. We have also enclosed here the final Summary Annual Reports for KREBA’s Plan for 2014 and 2015.

 As you likely know, KREBA was formed in 2012 after a committee of Eastman Kodak Company (“Kodak”) retirees obtained a settlement during the company’s bankruptcy. The funds obtained were used to set up the KREBA Plan and Trust. Beginning in January 2013, KREBA provided benefits to certain KREBA retirees and certain survivors under its Plan. KREBA provided a limited COBRA subsidy to certain individuals in calendar year 2013, and has paid a limited Death Benefit modeled after Kodak’s Survivor Income Benefit (“SIB”) Program (based on data provided by Kodak, with benefits capped at $400 per month for 27 maximum months of benefit payments).

 Effective January 1, 2015, MetLife took over the benefit obligations of the KREBA Plan and Trust. MetLife agreed to pay the same SIB Benefits that would have been due under the KREBA Plan, and it has also offered will preparation and estate resolution services to those who were eligible for SIB Benefits under the KREBA Plan (these additional services are available to both the retiree SIB Participants while living and their survivor SIB Beneficiaries while in payment status). More information about the transfer of benefits to MetLife is available at www.k-reba.com.

 The KREBA Plan and Trust terminated effective October 30, 2015. After October 30, 2015, all inquiries about KREBA benefits, and the additional will preparation and estate resolution services, should be directed to MetLife. We have provided below some contact information that may be of assistance to you:e decisions for you and your family in this difficult time.

MetLife number for those in current payment status

1-800-458-2479,

prompt 2

MetLife number for those not in current payment status or to file a new claim

1-800-638-6420

Change of address

1-800-492-6983

Kodak Retirement Service Center

(for inquiries about non-KREBA/MetLife benefits)

1-888-719-0488

 

We have worked hard to meet our goals of diligently serving KREBA’s participants and beneficiaries and maximizing the funds obtained following Kodak’s unfortunate bankruptcy. It has been our honor to serve as Trustees of KREBA, and we wish you all the best.

 

Sincerely,

 

The KREBA Board of Trustees

 

 

December 2015

 
 
 

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