Loral Space & Communications Message Board

Sponsor

To: John Brickman who wrote (3046)	5/19/1998 10:27:00 AM
From: Don Limb	of 10851

<off topic> John...Effective 07/01/98, heritage LOR savings plan balances will be transferred into the LMT SSP. Heritage Ford Aero and Loral employees with balances in the Ford and Loral common stock fund will need to decide what to do with their common stock prior to 12/31/99. The LMT SSP will not continue to hold your Ford and Loral stock in their SSP plan after that date. This is consistent with the phase-out of the Martin Marietta Materials common stock fund that will terminate on 10/30/98. You will be able to make a stock distribution from the LMT SSP into your own self-directed IRA rollover account. The transfer will be tax free and you will still be able to hold either Ford or Loral common stock. I know that heritage Loral stock holders have had a nice ride from the $7.50 price when we first got in. I would sure hate to pay capital gains taxes on any distributions into a non-tax deferred account. Hope that answers your questions. Don