With the email we just got and as an Assistant retail manager I’m thinking their might be possibility of being let go. Will there be a severance package and if so will they also try buying out my pension ?
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Take you pension as lumpsum....now! Att is in full fetal position! They could very well put the clamps on pension. And feel free to vote this down! I will be the one laughing in a few months, after you got canned and have zero control over your pension!!!
Sorry nope you will get your pension as the company is not going bankrupt. You will have option of taking it and rolling it over to a private IRA which you need to have set up prior. You can also leave it at att. They is a calculator to help with this decision on the fidelity web page. Check there before you get to excited
Regarding question about bonus... in past layoffs, yes they have received bonus as part of the surplus package. It isn’t the full amount but prorated based on number of months worked in the current year. For example, if your last day on payroll is June 30th, this means you worked exactly half a year. Bonus payment would then be 50% of your annual bonus amount.
Totally untrue: if you are vested you are entitled to your pension. If you’re craft you and. Vested you are entitled to your pension as it is covered under your contract The company has already eliminated pensions for people hired in the last 5 years ago or so for craft, probably longer for management. If this sh– sh– show goes tits all bets are off. should be covered under the PGBC though
If you’re let go in the next several months (thinking later summer or fall), do you still get your bonus? Wondering if there’s any scenario where that’s possible.
if they do watch the numbers because they stole from the employees on the last buyout and there is a lawsuit still on going.
https://layofflanding.com/att-pension-lawsuit/
good luck
Nope!
Depends what you mean by "buying out". If you just mean withdrawing a lump sum, then probably yes. If you mean giving you extra money as an incentive to withdraw a lump sum, then probably no. There are actually many pension plans for ATT employees though, so check with HR instead of a community board.
What email?
Why do you think you’ll be apart of the surplus as an Assistant Mgr?
"nope, Pension is a benefit and it may be terminated by tge company anytime without notice "
This is an incorrect and uninformed statement.
Assuming you indeed have a pension and you are vested, that money is yours. Yes, they will likely offer you a lump sum payout, or you may opt to leave it alone for the monthly (annuity) payment when eligible. The management severance plan remains in place, and McElfresh indicated affected employees would receive severance.
nope, Pension is a benefit and it may be terminated by tge company anytime without notice