My mom, Arlene L. Chapman, recently died and had earned capital credits with MTA going back many years. MTA’s policy on refunding of capital credit is appalling at best, with a more-than-30-year deferred payout.
I was shocked to hear that when someone dies, this policy does not change. My mom’s undistributed capital credit totaled $1,371.92; the amount her estate received was $749.91, an amount equal to approximately 55% to the capital credits she was entitled to. This policy should be considered unacceptable and changed.
Families have already put up with the death of a loved one; they should not have to put up with a discount in the earned capital credits or worse yet wait for 20 to 30 years for the capital credits to be paid out.
— Craig Chapman
Eagle River
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