The CIRI Elders’ Settlement Trust mandates quarterly payments of $450 per eligible Elder for as long as the trust has assets available to make the distributions. CIRI shareholders who are turning 65 and want to receive the payments do not need to do anything other than keep a current mailing address with CIRI’s Shareholder Relations Department.
The first quarter 2014 Elders’ trust payment is scheduled for Friday, March 14, 2014. Original shareholders who are 65 years of age or older and who own at least one share of CIRI stock as of March 14, 2014 are eligible to receive the $450 payment.
For the March distribution, eligible Elders who have their CIRI dividends directly deposited will have their trust payments electronically transmitted to the same account by 6 p.m. Alaska Daylight Time on Friday, March 14, and will receive by mail a non-negotiable voucher to show how much was deposited. Eligible Elders who do not participate in direct deposit of their CIRI dividends will have their $450 trust payments mailed to them in check form on March 14.
Direct Deposit Deadline
The deadline for signing up for direct deposit, changing an existing direct deposit instruction or updating an address for the March Elders’ Trust distribution is 3 p.m. on Tuesday, March 4. If you have not already signed up for direct deposit and would like to take advantage of this payment option, simply complete a Direct Deposit Authorization form and return the completed form along with a voided check or deposit slip from your checking or savings account with any bank, savings and loan or credit union. Direct deposit forms are available on CIRI’s website, and from CIRI’s Shareholder Relations Department. To cancel direct deposit, please submit a signed, written request prior to 3 p.m. on March 4.
Remaining 2014 Payments
The trustees are expected to approve the distribution schedule for the remaining 2014 Elders’ payments in the near future. The payments typically occur in the same months as CIRI’s quarterly distributions in order to reduce the number of months that some Elders lose their social security income payments because their monthly income exceeds limitations set by the Social Security Administration. Once approved, the remaining payment dates will be announced in the newsletter and on the CIRI website.