Let's say your MR75+ and fully vested, and even on the grandfathered Pension. Then either Surplus, or even Outsourced finds you. Do you still have the option to regular retire and take the voluntary retire standard plan, or, are you screwed into having the choices of taking the Surplus package or Outsource shaft, and are somehow disqualified from voluntary retirement?
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retirement does not get a severance. Outsource does not get severance. Outsourced and no go to new company does not get a severance. Surplus gets a severance. Organization determines severance offering in voluntary offer to leave and that can be no severance dollars. Retirement eligible leaving At&t date would be outsourced date if outsourced, would be surplus date if surplussed, would be any date otherwise. In all scenarios you leave At&t
I am I the ato group outsourced to ibm. I am mr75 eligible, ie retirement eligible. On Aug 31, I will be officially retired from att. This happens regardless of whether I actually go to ibm or not, if you aren't mr75 eligible then art marks you as resigned as they consider you transferred to the outsource company. I am still eligible for my retirement gift and party. Pension and 401k are with fidelity and we deal with them, not AT&T on when/ how we draw.
This won't be popular with the old crusty rats clinging to T's sinking ship but let's be real. If you're retirement eligible now, it's in your best interest to bail now while you can see the playing field.
If you're not, then move all your retirement funds and options (job too) out of T's control. IBM culture is coming for you.
"Former HR VP Says IBM Wanted to Look 'Cool' to Millennials, Fired 100,000 Workers"
https://www.tomshardware.com/news/ibm-class-action-age-lawsuit-100000-fired,40064.html
Call HR
You can retire anytime but loose the severance package if outsourced. Company offered a job with outsourced company and not obligated to pay any severance.
I was notified in January that I was surplus, took the option to leave in February, received a half a years severance and then had a $500 retirement party, got a very nice retirement gift and took my lump sum pension on April 1. I started receiving subsidized pre-65 benefits on March 1.
Not sure about the outsource deal but I would ASSume, the only thing you would lose is the severance package.
In our District contract......If you are surplussed and you take a Voluntary retirement, you get the Voluntary package. There is no lesser package. If you are being forced out by surplus and you are not allowed to "Follow the Job" or there is no position for you, then you get the Involuntary Package (which is almost double the Voluntary package).
I'm out sourced as of 1 Sept. Att will retire me 31 Aug. I dont have to go to IBM.
@-tui, what I mean is, though being fully retirement eligible, and you have not retired, suddenly you're then approached with a surplus package, or an outsource number. Are you still able to then simply take voluntary retirement with the standard package, etc., or are you now forced to choose from a lesser surplus package or have to take the outsource option (seemingly worse).
I don't understand the question. If you're retirement eligible, you can just retire. What am i missing?
Previous surplus I was on, was told I could submit retirement on final day. Still eligible for severance. Didn't have to. Outsourcing, I'm not sure. Was wondering same thing.