Call me cynical, but I don’t trust this company for a second. I received this targeted email today for select active AT&T employees. A targeted message that I am not to forward. Since I’m not ready to leave yet, I’m hoping that many employees in a certain pension plan received this. But the cynic in me says this means I have already been selected by the HR formula for ruining peoples lives and I will be surplussed in January. Did anyone else receive this email?
18 replies (most recent on top)
WHAT WE HAVE HERE ARE A BUNCH OF BOMBASTIC BUSKINS WANABE CHUCK SCWABS!! My coworker has a disease that will lower his life expectancy by 10-15 years. TAKE THE ANNUITY SAYS THE FOOL!! Keep your uneducated opinions to yourself. This is a life changing decision to be made by the individual and his FINANCIAL ADVISER. Not some FOOL that barely knows tip and ring !!!!
QUALIFIED CASH BALANCE is NOT the LUMP SUM PENSION. They update the qualified cash balance amount once a year as of December 30. If you want to see the new LUMP SUM amount you need to do a pension estimate calculation. If you saved one from a month ago for example saying you would stop working at 12/30/2019 and take your retirement at 7/1/2020 (after your 6 month severance ends) and then push the recalculate link today, you should see the lump sum has increased A LOT from the estimated you saved last month. The saved estimate used the interest rates from Nov 2018 but if you recalculate it, it uses the interest rates from Nov 2019.
Big cuts are coming. Take the lump. Att is betting on ATTTV and HBOmax to save the day and help bring paying customers back to the table. not going to happen, they are both way overpriced. The T will cut more jobs in 2020 then they have in the past 5yrs combined. Randall has to clean up his mess to stay on the board and avoid a proxy vote. Quickest way to save money.... cut jobs,! there are a lot of unneeded, duplicate jobs that have no direct reports that can easily be cut. GET READY...winter is coming!!!
So if interest rates are lower and our lump sum payment is suppose to have increased when will we this reflected? On-line mine has been static for quite some? Will it be reflected in 2020? I too received the email.
"The lump sum versus annuity decision is primarily a life expectancy decision"
Yeah, unfortunately it's not that simple. You don't know that you won't be run over by a bus tomorrow. I am a Dave Ramsey follower; he generally always recommends taking the lump. Rolled over into an IRA and invested in good growth stock mutual funds, that money will work harder for you while you're alive, and will continue to do so after aforementioned bus accident, when you can leave it to your heirs.
I started with SBC but did not receive this email today. I did get an email about price reduction on camo t shirts in the "Brand Shop". So I do have that going for me
Email was not sent to ex-employees. I am pre-divestiture. I will take out the lump sum by Sept or Oct 2020. The rate increase made getting outsourced to TechM feel pretty good. Thank you T pension gods!
The lump sum versus annuity decision is primarily a life expectancy decision. Other factors may be important to you also. If you think you will live into your mid and late 80's, then no doubt the annuity (pension) is the right financial move. Unfortunately, some need the money earlier for medical conditions or anticipation of shorter life spans, so the lump sum makes sense for them. I suggest shopping around for an annuity that is identical in monthly value to your future pension and compare the cost of buying an equivalent annuity vs your pension annuity cost (in present day dollars). For me, the lump sum was worth a few hundred thousand less than the annuity.
Take the monthly and let AT&T make money off your pension and steal it later. If you think that money can’t be touched I’ve got some swampland in Florida For sale!! Pension money is only insured for a small amount you could lose everything....put your trust in the T???
Take the annuity? So if you get smoked by a bus tomorrow your heirs get nothing?
Trust T to manage your $$$???
Take the lump, sever ties and walk.
I applied for MVO, started in early 90’s and will have a big bump in pension lump Doewill roll it into an IRA . It’s good news for me.
I got the email. It’s for anyone who has pre-99 money
You do realize that T could take the pensions money pay down debt and leave you with only a federally subsidized pension.
Randall will get a big bonus and you will only receive a portion of what you are expecting
This is only good if you chose to take the lump sum, doing the math and stepping all through it with a real financial planner who knows the AT&T pension plans inside and out, and not taking the lump sum but the pension annuity is by far a better way to go. Anyone telling you to take the lump sum is someone who does not have your best interests in mind.
Gap int rate went down for a large increase in the lump sum payment!! 2020 now is the time to retire!! This is a good thing you id–t!
Talk to the Fed, they are the ones who control the interest rates. The current rules have been in place for 50+ years on how they apply the rate to pension payouts.
But is it better or worse of a change for SBC or Legacy T?
The email went to all employees who started under the SBC or Legacy T pension plans of the day. Other folks and the plans they were hired under have different circumstances.