I just dialed the contact # from?? . I immediately was connected to Brad who seemed very well informed. I went into this with three answerable questions. So here it was.?
1) What kind of documentation should I be expecting. The answer was some #'ed certificate was his expectation but he had not seen the details of the particular deal. All he knew of the IBM retirement deal was what he has read in the paper.?
2) How exactly does the maximum amount, and the discounted present value calculation work together. And the answer is that your current income stream is continued unaffected (and historically is continuous as these failures are rarely instantaneous events) until the present value on the date of insolvency exceeds the max.?
3) The wording in in the NC statutes refers to the association only covering 'a single life'. This is a 'per insolvency statement' so in this case a retiree would be covered up to $300k (the NC limit) twice.?
FYI.?
dave
