Good News I'm told for those that left June 28th from Verizon with the last VSP offer. We're hearing that the November payout calc. using PBGC (100%) rate will be (.5%) (pensions less than 25K) and PBGC (120%) rate will be .6% for those leaving with pensions greater than 25K. Hope these rates can be confirmed as accurate. Congrats to all the VSPer's Thank you for your service!
6 replies (most recent on top)
A .25 rate would be awesome from a lump sum perspective! Hope it happens. Watching and waiting.
Rate will drop to .25 before year end.
PBGC - August15, 2019
Immediate rate - 0.50%
For plans that terminate in September 2019
Not only will it take effect before November... but it's going to stay there at least 2 months.
I'm betting its already going to take effect Sept 1, based on the July PBGC of 0.50
In any event... that's a great rate for those ready to go... enjoy retirement.
Left in March VSP since then the rate has dropped 3 times. No complaints about 12% higher lump sum.
👍👍
PBGC - July 15, 2019
Immediate rate - 0.50%
For plans that terminate in August 2019
Pretty sure that is going to apply before Nov 1st.
Regardless... it's been years since the rate was that low, and it's only hit it a few times in the past.
And many people took advantage of it and left without a package... If you ready to retire, scoring a 0.50 rate over a 1.25 rate will make up for the lack of a package. It's a gift to anyone ready to jump.