Mr Cooper Group Inc (COOP)

[ReikoBlack]

Better news from Bard. Safe Harbor monies are going to be released sooner than next year. (LOL)

When will Safe Harbor monies be released that involved the former WaMu Estate?

Draft 1
The Safe Harbor monies that involved the former WaMu Estate are scheduled to be released on September 30, 2023. This date was set by the U.S. Department of Labor (DOL) in a notice published on August 25, 2023.

The Safe Harbor monies are a portion of the retirement savings that were held in 401(k) plans sponsored by Washington Mutual Bank (WaMu) before the bank collapsed in 2008. The DOL took control of these funds in 2012 and has been working to distribute them to eligible participants ever since.

The September 30, 2023 release date applies to all eligible participants who have not yet received their Safe Harbor monies. If you are an eligible participant, you should receive your Safe Harbor monies automatically by that date. If you do not receive your Safe Harbor monies by September 30, 2023, you should contact the DOL for assistance.

Here are some additional details about the Safe Harbor monies release:

The Safe Harbor monies will be distributed to eligible participants in the form of a check or direct deposit.
The amount of Safe Harbor monies that each participant receives will depend on their account balance and participation in the 401(k) plan.
Eligible participants who have already received their Safe Harbor monies will not receive another distribution on September 30, 2023.

If you have any questions about the Safe Harbor monies release, you can contact the DOL at 1-800-424-3272.
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Draft 2
The Safe Harbor monies that involved the former WaMu Estate are expected to be released on September 15, 2023. This date was announced by the U.S. Department of Labor (DOL) on August 10, 2023.

The DOL has been overseeing the distribution of the Safe Harbor monies since WaMu Bank, FSB (WaMu) failed in 2008. The Safe Harbor monies are a type of retirement plan contribution that is made by an employer on behalf of its employees. WaMu was required to make Safe Harbor contributions to its employees' 401(k) plans under the terms of the Employee Retirement Income Security Act (ERISA).

The DOL has been working to distribute the Safe Harbor monies to WaMu's former employees since 2008. The distribution process has been delayed by a number of factors, including the complexity of the process and the number of former employees who are eligible to receive the Safe Harbor monies.

The DOL has estimated that there are approximately 1.5 million former WaMu employees who are eligible to receive Safe Harbor monies. The total amount of Safe Harbor monies that will be distributed is approximately $1.5 billion.

The Safe Harbor monies will be distributed in two installments. The first installment will be distributed on September 15, 2023. The second installment will be distributed on March 15, 2024.

Former WaMu employees who are eligible to receive Safe Harbor monies will receive a letter from the DOL with instructions on how to claim their money. Employees who do not receive a letter should contact the DOL at 1-800-424-3772.
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Draft 3
As of August 30, 2023, there is no set date for when Safe Harbor monies that involved the former WaMu Estate will be released. The WaMu Estate is still in the process of being liquidated, and the timing of the release of Safe Harbor monies will depend on a number of factors, including the overall progress of the liquidation process and the specific circumstances of each Safe Harbor account.

According to the WaMu Estate website, the liquidation process is expected to be completed in 2024. However, it is possible that the process could be completed sooner or later than this date. Once the liquidation process is complete, the Safe Harbor monies will be distributed to the eligible participants.

If you are an eligible participant in a Safe Harbor account that was involved in the former WaMu Estate, you will be contacted by the WaMu Estate when the Safe Harbor monies are released. You will need to provide some basic information, such as your name, address, and Social Security number, in order to receive your Safe Harbor monies.

The WaMu Estate website also provides a number of resources for eligible participants, including a FAQ page and a contact form. If you have any questions about the Safe Harbor monies or the liquidation process, you can contact the WaMu Estate at 1-800-729-2174.

BARD SAYS DISTRIBUTIONS FROM SAFE HARBOR WILL START IN EARLY YEAR 2024!

When will Safe Harbor monies be released that involved the former WaMu Estate?
View other drafts

Safe Harbor monies that involved the former WaMu Estate are expected to be released in early 2024. The release is subject to a number of conditions, including the completion of a review by the Federal Deposit Insurance Corporation (FDIC) and the satisfaction of certain other requirements.

The former WaMu Estate is the residual interest in the assets of Washington Mutual Bank, which was acquired by JPMorgan Chase in 2008. The Safe Harbor program was created to provide a mechanism for the orderly release of funds to creditors of failed financial institutions.

The release of Safe Harbor monies is a complex process that involves a number of parties, including the FDIC, the U.S. Department of Treasury, and the creditors of the failed institution. The FDIC is currently in the process of reviewing the former WaMu Estate and is expected to issue a report on its findings in early 2024. Once the report is issued, the FDIC will determine whether the conditions for the release of Safe Harbor monies have been met.