Rule of 75 means nothing now. Read up.
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" Not a true statement. If you are hired 2009 or after then yes it means nothing."
So many people that simply don't understand that there are many different pensions, from the many different companies, that were rolled into whatever we are now. You simply need to understand what legacy pension plan you are under. If you have one at all, which at this point most still here probably don't.
I was hired in 1994. I am fortunate in that I still have the pension, but coming from an SBC/ Cingular management background, it is the Mobility Plan. That is a "cash balance" plan. They dump like 5% of your salary into it each year and that's it. There are no "kickers" or big bumps at any service milestones. I am not complaining; I am happy I got in before they stopped offering it...and when I retire in the next few years, I will take the lump sum from this and direct transfer roll it into an IRA. Combined with my 401K, I have done pretty well.
My point is, there are different plans. People should stop responding and correcting people, and acting if THEIR plan is THE plan.
It meant something to me:
Pension jumped about $200k.
Retiree medical.
Discounted ATT Internet and wireless.
But then again I'm not management.
Not a true statement. If you are hired 2009 or after then yes it means nothing. If your uuid has a letter at the end you get nothing for the MR 75. The MR 75 for those hired prior to 2009 can be big bucks. You just got to get there. And Att has a tendency to get rid of those workers prior to getting to the MR 75. If you don’t make it you could lose a lot of money. 65 years old 10 years company, 55 years old and 20 company, 50 years old 25 company are the only MR 75 options. You get to that point enjoy as you are one of the few who got there in this work environment Att has created.
Can't really make a blanket statement like that. Just because it isn't a thing for you doesn't mean there aren't some orgs or people covered under legacy provisions for whom it is still a thing. But yes, everyone should be clear on what pertains to them.
“ MR75 means something because the pension plan will get a bump. “
Some pensions. Again, many do not. Educate yourself as to which one you fall under. If you’re under the Mobility Program of the AT&T PBP, that’s a cash value plan and does not get those significant “bumps” at any service milestone. It is what it is basically.
Are you crazy OP?
I get a $500 retirement dinner & gift.
I get $15K death benefit, $25K if non-management.
I retired at 67 and will keep my income low for 5 years
I started like that, and changed my mind. Instead, I've started taking trustee to trustee distributions from the 401K to a Roth. Once I reach age 73, the RMDs will be under amounts to trigger Part B premium hikes. Of course, ole Trumpy might get rid of income tax. Everything is a gamble.
I lost half the value of my pension because I was 8 years shy…
MR75 means something because the pension plan will get a bump. Once you hit MR75, then it’s meaningless to stay here. Why- because your pension will begin to decrease and if you invested the mo why it would be growing. In 7.2 years you could double your pension payout.
To keep working here after MR75 is costing you money.
I’m basing my info off of the SBC pension.
Medicare Supplement Part G is the best.
It depends... Many pension plans double or triple in value around the 25-year mark. So while it might not be MR75 exactly, the 25 years of service gets lot of people close to that mark anyway.
This is the biggest lie anyone has ever told on this d-mb site.
I like the Medicare Advantage plan. $900 and done for Part A&B, in or out of network. >That breaks down to $75/month. It's the best health plan I ever had.
Do you still have to pay regular Medicare monthly premium? Isn’t it $200 a month give or take?
Yes you must also pay Medicare premiums. Medicare premiums are based on your income two years earlier. Income is defined as job income + bank Interest + dividends from a taxable brokerage account. So I made over $200K in 2023 between all 3 and my premium is $670. I expect higher in 2026. If I take out any money from my pre-tax IRA, it will increase my premium. The secret for a low premium is to keep your taxable income to a lower tax bracket like 12%. Basically, financial success with a non-Roth IRA means you pay a lot for Medicare. Only those with only Roth IRA accounts will have lower Medicare premiums since they were already taxed. Social Security is taxed too (50% or 85%). I know people who have $150-200 premiums and they made around $15K-20K two years ago. Had I been converting to Roth all these years or had I retired at age 63, my premiums would be low. I retired at 67 and will keep my income low for 5 years. When RMDs start at age 73, I will have more income from forced IRA withdrawals and will pay high premiums again. This is a vicious circle and only the wealthy and the poor do well.
I like the Medicare Advantage plan. $900 and done for Part A&B, in or out of network. >That breaks down to $75/month. It's the best health plan I ever had.
Do you still have to pay regular Medicare monthly premium? Isn’t it $200 a month give or take?
I like the Medicare Advantage plan. $900 and done for Part A&B, in or out of network. That breaks down to $75/month. It's the best health plan I ever had.
It's still a gamble, since I hear the current plan is only guaranteed through 2028.
There is no rule of 75.
There is a modified rule of 75.
And if you’re management with the cash balance pension or no pension at all, it is truly meaningless.
There is no pre Medicare health insurance.
There IS a worthless mobility discount that you can beat almost anywhere as a regular customer.
I'm already there. I plan to go as far as I can. I'm valuable. They know it. Fu-k a number. Please don't allow all the opinion/noise to 'tell' you something. You and only you can make a decision in this world. If you're willin' you're probably valuable and maybe you can parkay till you decide. God Bless.
Rule of 75 = 500 retirement dinner …. Big deal … you get discounted mobile but Verizon and TMO are much cheaper…
@OP+1jksc3k8s
It depends... Many pension plans double or triple in value around the 25-year mark. So while it might not be MR75 exactly, the 25 years of service gets lot of people close to that mark anyway.
Ask your supervisor about rule of 75
420 means something now. Read up.
69 is what matters more.