#retirement

Is anyone else having trouble getting their pension lump sum ? Delayed now 3 months and counting... is the fund insolvent ?

35+ years in the industry, across several banks. I’ve seen it all. What’s happening now feels like the complete dismantling of banking as a business, a service, and an institution. Working in this industry has never been worse: more stressful, less rewarding, and utterly demoralizing. I doubt it’s any better at other banks. I’m close to retirement, so I no longer care much. But for younger folks, here’s my advice: don’t expect a career, don’t invest yourself too deeply, and don’t think hard work and skills will pay off. If you still have time, change lanes.

Caterpillar reorganization in 3rd quarter to help reduce share price declines. Caterpillar has issued layoffs and retirement packages to salaried trained and experienced employees while hiring agency reduced cost workers and recruiting college interns.

This is a genuine request, and I'd appreciate honest (not snarky) feedback. What would you do if your boss revealed that layoffs were imminent and your team might be affected? It might not be everyone, but it could be. Which is surprising, as we've already had several team members leave. But apparently, that doesn't 'count'. Alas, the 'powers that be' don't view our reporting work as 'valuable' - more like 'oh, that can be done with AI' or some other assumption that diminishes the complexity of what's required. I've been down this path before... and somehow survived by various means. Should I apply for other opportunities at AT&T? Please note that I enjoy my current role. I like my boss. But those above him aren't cool. Am I jumping from the frying pan into the fire? Please note: I'm nearing retirement age and want to make the most of my time.

Who in the world is next up for CEO? Seems like there is a big crop of senior leaders up for forced retirement at the same time (MW, MN, CN, BN) that are going to cause a massive daisy chain. No one super promising in the 50-55 year old range.

I know alot of the items on this site give insight to what may or may not be occurring but I was recently let go and was here 27 years. I was pretty sure our department was going to have cuts so I was not shocked when I got the meeting from my manager for a random 1 on 1. What I was shocked about was that my severance which I was forecasting to be roughly a years check be dwindled down to 12 weeks due to me missing training by 2 days last year and RTO because I wasnt in office or on network long enough. I argued that this isnt fair and I was told the policies are in place for a reason so management is definitely targeting high severance people and doing what they can to make sure they don't get it. My case is not a one off either I've seen many others have the same issues here. I was in Westboro and all our jobs are gone to florida soon. Just please heed my warning and have common sense that this place doesnt want to pay a year upfront to anyone and will dig and find any reason not too. Im lucky im able to retire in a year so im not concerned about this too much, I just find It very sad this is how they treated me after so long.

Friday was the last day for over 1/4 of the contact center and from what I hear similar rifs occurred elsewhere in the life & retirement area. Next big layoffs are planned for November-December timeframe af the division winds down and transfers servicing to Everlake/NTT Data/TAG.

let's say you are 58 - would you accept an early retirement?

i am curous about how people are thinking about the topic (more than helping me make a call).

you can assume anything you'd like (e.g., having or not having enough saved, age of kids, etc.)_

https://www.forbes.com/sites/kellyphillipserb/2025/09/26/how-to-navigate-retirement-savings-if-your-company--suspends-401k-plan-matches/?utm_campaign=forbes&utm_medium=social&utm_source=bluesky

Seeing posts asking questions about pensions/retirement. I always go to them every couple of years to get an update on where I am. They can’t predict future changes in policy or your financial behavior but always felt like I was at least taking my yearly physical. With so many companies downsizing you probably shouldn’t wait until something happens in this current economy to get a decent reality check.

I left ATT in 2020 after 28 years. It wasn't my first choice at that time, but I had an existing side gig that quickly became a full-time job. I sold that business and officially retired from the workforce in June 2025. This led to several necessary interactions with ATT. Those interactions went fairly well. I have been out of pocket for 5 years, and there is a burning question, WHEN did ATT hire all of these whiners? Maybe the better questions are HOW and WHY? Are they unable to recognize obvious character flaws during their hiring and vetting? A common takeaway from the posts on this forum is a complete lack of personal responsibility for the position in which you find yourselves, and that you want someone else to fix it for you. I have a tip for you that you should have learned when you were 12 years old. The position in which you find yourself today is but a stepping stone to the position you could be in tomorrow. Prepare yourselves. Mama and daddy aren't going to make things all better.

According to a survey by the Transamerica Center for Retirement Studies, nearly six-in-10 retirees (58%) retired sooner than planned. Among this group, 43% cited employment reasons such as job loss (16%), organizational changes (16%), job unhappiness (14%) and retirement buyout (9%).

https://www.lightreading.com/broadband/at-t-s-copper-retirement-plan-plows-ahead

I am less than 50s and I have pension plan with $X vested. If I decide to resign or get surplused, what happens to that amount? Will it stay with Fidelity and can I start getting monthly pension checks if I want to cash out or do I have to wait till 65?

When LP is out / retire ?

Does anyone know anything about pension bridging? I've heard rumors that pension bridging is potentially available if you are within two years of being eligible to retire, but details are light beyond that.

42 yo male in Dallas....got $1 million cash...$1 million 401k/ ira and $100 k in roth and no bills (house paid off worth $700k or anything) ...wife works and 2 kids 17 and 11. (529s worth about 120k and 80k)..

Really sick of extra work for being efficient...probably make 20% more than co-workers but do more complex work projects and easily 40% more work...started here 4 years ago from compitor and have 23 days pto which really su-k and no more vacation for another 6 years...I want to quit and retire but going to get like $13k 401k match on last day of year and like $45k bonus....do I just quite / retire and stick it to management OR just do bare minimum and refuse complex projects until late February or do I just do bare minimum stop coming in and see how long until they fire me? My guess is we are so short staffed I could keep job for 2 to 3 years just so long I do minimum work...

Thoughts?

If XOM is looking to reduce HC10 headcount, why doesn't it create provide an option to let HC10 staff over a certain age (say 50 or even 48) take early retirement.

Reading all the commentary on this forum, a lot of folks may take the option? Has anyone run economics scenarios for this? At the minimum, will improve morale ...

Employee Discount Program 877-377-9010

Found this number and talked to a very nice lady. They handle all discount information for all services.

1. Discount will start automatically November 1st for all qualified wireless retiree plans.
2. Qualified plans are the newer ones. Called in a few months ago complaining about my bill. Found out I was on a old grandfathered plan. Switched to a newer comparable plan and actually saved money.
3. If you are retired you might call in and find out what plan you are currently on and find out which newer comparable plan is available so that you can get the additional discount.

Dating someone within HR. XOM is actively working to offload personal that are +47 years of age without getting sued or having any class action suits filed….
They are coming for you…they call it getting rid of dead wood 🪵. Or getting rid of stale, pale, and male…SPM

Dearly beloved
We are gathered here today to get through this thing called working at Dow.
Electric word, work
It means it means hard work and we work for a mighty long time
But I'm here to tell you there's something else
Retirement
A world of never ending happiness
You can always see the sun
Day or night
So when you call up that shrink at Dow
You know the one, "Dr. Everything'll-be-alright"
Instead of asking him how much of your time is left
Ask him how much of your mind, baby
'Cause in this life things are much harder than in retirement
In this life you're on your own

Millimanbenefits.com

Don’t know what’s going on, but reps not really willing to explain things. Company must of retired and hired new employees. Not very knowledgeable nor do they seem like they want to help. Hopefully Verizon will light a fire up their kulo!

Got some documentation saying the discount will go from 30% to 50%. Took forever to find someone who even knew what I was talking about. Lady said that according to what she could find, and if she understood it correctly, the discount would take a couple of billing cycles to flow through. Assuming we might see it on the billing on the December bill if true.

No more late-night calls, no more corporate drama, no more waiting for the next restructuring email. The circus goes on without me and I don’t miss it one bit. I do feel for my former coworkers who - as I can see it from posts here - still have to go through that cr-p on daily basis. There's light at the end of the tunnel, folks. And it's really bright without Dell in your life.

So I’m done with this place. Trying to figure out my options been with the company 22 years closing in on 50.

Offer retirement packages!!!! Had enough abuse!

Unethical company lousy uneducated management.

You hate us we hate you. Horrendous company. Corrupt!

Layoffs until November will be paid severance after that no payout! Hoping yo get a package so I can retire!

" While I am certain the Company would say otherwise, what is clear at this time is that [they] had no interest in reaching an early agreement...
We either prepare ourselves for a protracted strike, or we accept the true worst-case scenario: the end of retiree healthcare in the not-too-distant future."

Anyone who retired early or was layed off prior to Medicare have insights into Cobra vs ACA?

Interested in the cost vs policy quality comparisons for those who have been through it.

I know based on W2 box 12DD that the SAS insurance comes out to around 31k for me with family.

Love the coverage. Low deductibles and out of pockets.

RB just sent e-mail with list of retirees…ZERO will be missed!

AB saw her chance to get out and took it, good for her honestly. If I were helming the sinking ship that is UDAP, I'd dip out too

Thoroughly enjoyed most of my 28 years. Walked in one day and couldn't see doing it anymore. Notified my manager and left for the last time 3 weeks later. Took SS at 62 and received the initial monthly checks from both of my pension funds. It took a month to fully sink In. I should have left a year earlier. People asked, why now? I didn't have an answer at that time. A month later I had an answer. My team lost 4 people in 3 years. What was left were the people who should have been surplussed. Yeah, probably me too. I think I would have been relieved. Sooner would have been better for me, that I am sure of. Yesterday another retiree asked if I missed the camaraderie. It was a joke. No, I will never miss the deadbeats. Never miss watching someone draw a paycheck they did not earn. Never miss those hired solely due to race, gender, or pronouns. Never miss the employee discount program that costs at least double that of AT&T competitors. Never again pretend to care about the work in a company that does not care about their employees or even their customers. After 3 months I finally wake up every morning feeling free. I never gave a thought to the costs of working at AT&T before I retired. After years of being obligated to do things that made no sense, you suddenly find yourself with the ability to reject such nonsense. I didn't know it at the time I submitted my notice, but what I want most was peace of mind.

I am writing this as a longtime Cisco employee. I am an individual contributor and have been for almost 20 years. I like Cisco, I like most of my managers and colleagues (not all, of course but that is true anywhere)

Am I worried about getting LR'd? A little but since I put this plan into place several years ago I am not worried about finances. Not one bit.

You can't change the wind but you can change the set of your sails. The most important of which are your financial decisions. Strive for financial independence now. It is not too late. jump to end for TL/DR version:

1. shift to maximum frugality.
   This is not the "latte factor" where your $4 coffee will change your life but rather an entire philosophical shift. Embrace frugality as a desirable and enjoyable lifestyle (it is). Focus on both the small rocks (the daily expenses like coffee, doordash and money su-kers). not to sound s-xist but money su-kers are typically gender aligned. Women spend a lot on nail care, beauty and the like. Men spend a lot on autos, gadgetry and beer. obviously stereotypical but you get the point.
   Eliminate, DIY or change the frequency.

2. Big Rocks.
   Housing, Healthcare, Transportation, Insurance & Education are typically the most expensive components. Start here. Be relentless. remember that New car smell is the most expensive fragrance in the world and no one really cares about what kind of car you drive anyway (except for you) get a reliable, safe used vehicle. strive to pay cash for a car as it will force you to save & research. Same concept applies with the other big rocks. The amount you spend on where you sleep at night and keep your stuff should be minimal. This is true whether you rent or own, strive to own a decent home in a good neighborhood.

3. Max out your 401K, open a Roth and build a freedom fund.
   What to do with all the money you save? Buy a boat? (no!)
   First, build a cash cushion of at least 6 months of expenses, the good news is that the more you relentlessly drive down your expenditures, the lower this amount needs to be. Put this in a Money Market (many are yielding 4+ %
   Then, Max out your tex deferred retirment account. the target date funds are a great one-fund set it and forget it option. you could balance that with a 100% stock fund (US Equity Index) say 50/50 so you are tilted toward more growth, especially if you are young. There are 1,000 asset allocation strategies you will be bombarded with, this is a good middle of the road, reasonable, strategy. It is way more important to get started and be consistent (autpilot) than to get all the knobs perfectly right. Most people do way more damage that way, especially you smart ones. (Doctors are notoriously bad investors because they think they are smarter than everyone else)
   also start a Roth IRA and fund it as well (Roth is post-tax but has significant advantages)

4. The best things in life are free.
   National Parks, Conversations with Friends, gardening, reading a used book (the paper kind) long walks with the person you love most. Do the rocking chair test; imagine you are 80, sitting on the porch in your rocking chair and ask yourself what you would have done differently back then. I guarantee the make/model of car will not enter your mind even once.

TL/DR
Reduce expenses relentlessly, start with the big rocks.
embrace a mindset of "frugal is wonderful" because it leads to financial independence.
MAx out retirement funds (401k/IRA/Roth IRA) with a simple set and forget it Asset Allocation
100% Target Date Fund (based on your retirement year) or 50% Target Date Fund + 50% US Equity Index if you are more risk averse.
Build a 6 month war chest full of cash

https://www.fierce-network.com/broadband/att-now-making-headway-its-copper-retirement-plan

It is not worth it! I have seen professionals work until they died and what is the point of that? The stress will ki-l you. Take some time for yourself as you near your golden years. You will also have time to hone your investment skills and manage your investments yourself. Pursue your hobbies while you have plenty of energy and never stop learning.

Two former TIAA employees yesterday filed an amended complaint claiming the company violated the Employee Retirement Income Security Act by investing more than 28,000 plan participants’ retirement funds in a proprietary in-house fund that has failed to meet its market benchmark since 2009. Attorneys from the AARP Foundation then joined the complaint as co-counsel “on behalf of older adults enrolled in retirement plans offered by TIAA” to its plan participants, according to a statement from AARP.

The original complaint, filed on May 20 by former TIAA employee Bryan Byrne, alleged TIAA breached its fiduciary duties under ERISA by opting for high-cost investment options in the plan’s investment menu, despite cheaper alternatives, and by not removing its underperforming CREF Growth Fund from the plan. The complaint and the amended complaint are pending in U.S. District Court for the Southern District of New York.
The amended complaint adds two new plaintiffs, Charles David Sullivan and Sarah Johnson, both former TIAA employees. The plaintiffs are seeking class action status on behalf of all participants in and beneficiaries of plans that invested in the two affected fund classes: R3 share classes, starting September 16, 2022, and the growth fund class generally, starting May 20, 2019.

The complaint also alleges that plan participants were charged millions of dollars more than TIAA’s institutional clients in higher investment fees, while TIAA profited from fee income.

“By shaving five, ten, and even fifteen basis points in higher fees from the R3 class assets from around September 16, 2022, and onward, … defendants quietly pocketed millions of dollars for themselves,” the complaint states.

The suit seeks to recover the losses to participants’ retirement savings caused by the alleged breaches.

“When companies mismanage retirement assets and seek to maximize their own profit by charging exorbitant fees, they jeopardize the retirement security of older adults, particularly harming low-and moderate-income workers,” said William Alvarado Rivera, senior vice president of litigation for the AARP Foundation, in a statement. “AARP Foundation is fighting to ensure TIAA participants get the retirement income they’ve earned—and the dignity they deserve.”

A TIAA spokesperson responded to an email from PLANSPONSOR by saying, “TIAA believes the lawsuit is without merit. The company provides its employees and participants with quality products and services that deliver strong long-term performance at competitive costs. Our mission remains focused on helping those we serve, including our own employees, achieve a financially secure retirement.”

TIAA, its board of trustees and its investment advisory review committee are represented by Goodwin Procter LLP. The AARP is represented by Sanford Heisler Sharp McKnight.

So many people retiring early! Are people leaving voluntarily or are they being forced out?

To a years of service + age = magic number for full retirement pension, a lot would just retire without a severance offer. Looks like this would cost the company less and get the salaries off the books and onto the pension program. Then they could hire 2 for the cost of 1.

I left State Farm about 2 years ago and had only worked for them 8 years. Last week I got a letter stating they were buying out my pension based on ERISA and IRS guidelines and gave me a link to a web-site for more information. Did anyone else get this? Obviously I have to take the money and they gave me a deadline of September 15, 20025. Thoughts?

Just curious how many of us at Oxy are ready to retire and can, but find it hard to walk away from the job because of the pay and benefits. I am still able to perform at a high level, but the routine of waking up so early and then working all day seems to be getting old fast lately. I have no complaints about Oxy, but it just seems I have lost my drive to keep chasing it all. Anyone else find this happening after the age of 60? My current goal is to make it to the next bonus round, and cash in my stocks and take the final bonus and make 2026 my final year working.