Any truth to that? I heard folks outsourced to ibm that were 1-2 years away from being fully vested were given a gift of year or 2 of service. How lucky they are to be fully vested and still get a year employed. Us folks given the boot in March with 19 years got jack sh–.
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Pensions and 401k and in most cases stock grants vest immediately if the company lays you off (e.g not fired and not your choice to leave).
Same with tuition reimbursement - and payback clause is cancelled.
Given the boot after 19 years - weren't u vested at 5 years (for your pension) ? You may be better off with your 6 mos (2 weeks per year) severence, if u were able to find a job quickly.
MTP is very important for those that qualify for company subsidized healthcare. MTP is not used only to qualify for discounts.
As for the pension, I dont know when it was last offered as a benefit, but I expect anyone that has it, has likely vested by now. If not vested that means they have not been employed long and therefore probably have a small balance such that it does not matter if they lose it
OP here - I wasnt referring to MTP (the retirement discount benefits are jack sh–), but with the outsourcing to IBM, AT&T is giving the remaining months/years to reach fully vested pension. Pension is way more important than getting retirement discount on their c-appy service.
but MTP does not change the pension calculations.
MTP = Managementt Transition Program. It has a provision for folks that are within 2 years of meeting the rule of 75 to purchase the necessary time to meet the MR75.
What is MTP
I did not know MTP was available to those outsourced - good to know.
MTP is not just for outsourcing, also applicable to FMP as far as I know …...worried abt lawsuits....You can read all about it...Just search on HR One Stop..
Folks sold at auction to IBM were given up to 2 years MTP bridging, and since there was no severance involved they weren't giving anything up to get it.
Wrong again....Nope,AT&T modis operandi is full of distractions, they will be cut obviously T does not want to pay severance or get sued either, like sheep to the slaughter they outsource to IBM and everyone is happy, in 2 years no one would know what happened, The T story