So the new rumor is a targeted Eisp for techs sometime in August off payroll end of September .Seems like they keep pushing any possible eisp off further and further .I mean Some Rumors say maybe next year .Im starting to think with all the management Vsp offers and unknown numbers Verizon dont even know.I would say dont bank on an offer make your decision on personal finances.Any extra is just a bonus
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You can't initiate an annuity and then change it after you start receiving it to a lump sum. What you can do is defer taking your pension until the rates come down if you want a lump sum.
As of now the lump sum is an option for all union members. The lump sum option is always decided each contract and the company always threatens to take it away but they never will take it away. The company rather pay the lump sum then to keep managing your pension annuity. However right now the market conditions would make the annuity option better for many… you could always change and cash out later on too nothing will stop that.
The next EISP will definitely be a good one to reduce headcount before contract expiration. Hang in there, it’s going to be a bumpy road the next 6 months. You may see many promotion opportunities as well while positions rotate in management. I don’t know if I would consider a promotion to management however in this climate.
Yes, that's how the stock market works. It goes up and it goes down. Do you know what the lump sum is based off of? Its the 30 year T bill. Do you know what the 30 year T bill is based off of? Inflation, interest rates and growth. Do you know what cause those to fluctuate? Many many factors. It sounds like you are a craft worker if you are talking pension. Based off your "knowledge" you might be better off with an annuity instead of the lump sum. It sounds like you are the kinda guy that takes the lump sum and goes and buys a big truck then has to get another job because you blew all your money. Again, for you and for you family see a financial planner, advisor or someone that actually understands. Good luck with everything.
What was said was the “market got so bad”. Didn’t say I haven’t made the money back. If you are saying you didn’t lose money when “the market got so bad”, you are lying. And you know you are still down thousands in the lump sum. And that has nothing to do with your investing skills. And guys have stuck around instead of leaving because the “market got so bad”.
Post ID: @zei+1tqAxoNe You really should spend the 200-300 and make a one time visit to fiduciary CFP. You clearly do not understand investing at all. I'm not even being mean. Spend the money, see a financial planner because if you are losing money in this market over the past couple of years you are clearly doing something wrong.
All good news. keep union associates for another 2 years, paying them good money and bennies. By then the Gatt rate will drop abit and the lump sum will go up. then take the money and RUN!!!!
I am talking about the market that lost about 20% from your 401 and if you are union you probably lost about 150grand from your lump sum.
@qkf+1tqAxoNe The market is so bad??? The S&P has broken history with 36 record highs in this year. The Dow hit 40,000 for the first time ever. I don't know what market you are talking about.
VZ has sold off a large share of their pension. Not sure what amount of people they have left to cover
Prudential will not do a lump sum. They will keep the money and make 5 times the interest they credit the pension. They pay the annuity only and hope you die early so they can keep the rest.
No handout for union dregs. Back to pretending to work.
Re:Post ID: @ljg+1tqAxoNe . I agree they want to see who leaves on their own, but market got so bad that people aren’t leaving. That’s why I think if an offer was made, it might have to have something sweet in it. And if they get rid of lump sum, people will stay longer to raise the annuity sum. Interesting times ahead
Don’t know how you are saying they keep pushing offer out further and further, it’s all rumors! And be surprised if it was in the summer, but nobody knows what they are gonna do.
Confirmed, no offer coming up. We're going to let Brightspeed deal with it after they buy wireline.
I have inside info. Big red looking to purchase some of Brightspeed foot print. Remember, I have inside info.
There is going to be no offer , i have inside info . The company wants to see who leaves on there own in before August 2026 because they are getting rid of the lump sum part of the pension . Prudential Financial and they don't like to deal with lump sums . Also Verizon is looking to sell off all the remaining areas ASAP . Brightspeed could up there offer and that is a real possibility . They also can't offer buyout when actively hiring and they have to do that before end of contract .
This has been a rumor for at least 5 years, nothing for associates
Per union rep this morning it's coming but it's not targeted. It's for all. If you can leave, he said, "take the offer".. it's going to be lucrative. It's going to be yuge.