Getting surplussed 5 months from full pension eligibility should be illegal. Napkin math shows it costing me $1.2 million + benefits I would have received. Wow.
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Take the two year management transition plan to get you two more years but basically no severance.
att is playing games with the pension. I ran tons of scenarios on fidelity and the biggest difference I got was 200 a month so didn't matter if I stuck around or not. so that was why I left just didn't care anymore and sick of dealing with psychopaths that were in love with themselves every day. if you get a buyout take it because I am sure they are already figuring how to get out of the pension 100% down the road and the way they treat customers they may not be able to pay it even though it insured by the government you won't get the full amount from the government. att is a cesspool company that is being robbed by the executives and I really don't see it being around in 10 years.
"For example, if you're 49 years 11 months old, you might get, say $1000 a month. But wait until you are 50, and you pass one of the major breakpoints, and you'll get $2000 a month.
Basically, pension payouts are non-linear. There are "cliffs" at various points. It's extremely convoluted but in the back pages of the pension description..."
You are correct for SOME, but again for other employees (such as myself, legacy SBMS management) our pensions are not calculated with those significant cliffs/ break points along the way. And it is indeed extremely convoluted.
This is really confusing but it has nothing to do with "vesting" per se. Anyone who has a pension now is fully vested in it. BUT there are various breakpoints. If you start withdrawing from your pension before the breakpoints, various factors are applied that lower your payment. For example, if you're 49 years 11 months old, you might get, say $1000 a month. But wait until you are 50, and you pass one of the major breakpoints, and you'll get $2000 a month.
Basically, pension payouts are non-linear. There are "cliffs" at various points. It's extremely convoluted but in the back pages of the pension description.
Not everyone's pension value is calculated the same way. I don't have any appreciable difference at some of the milestones I hear others talking about.
By "full pension" I mean your pension is not fully vested until you reach 20 years of service. Fully vested at 19 years, 5 months is worth only about 30% of the 20 years vestment. You can run different scenarios on HR One Stop and see.
What do you mean "full pension"? If you've been around long enough to get the pension, you're fully vested. How can 5 months make a million dollar difference?
not illegal, it is unethical, but you already knows this,YOU should had taKeN LTD, STD, or FMLA,
Talk to a lawyer. Class Action Lawsuit is what I see. Top that with what’s already in litigation.
Also if you are laid off with 24months of retirement elegibility I think you can give up some severance to qualify for retiree healthcare. Check with BDEC.
You know, I'll bet that if you were face to face with this boomer you wouldn't be so snarky.
If you are laid off with 24months of retirement elegibility I think you can go on TLOA you still get your pension.
Really sorry to hear than man, that really s—s.
My 15 year anniversary is on the 28th of this month, looks like I may make it but with the "modified" rule of 75 it doesn't mean squat anymore.
wow, you get a pension, lucky you, now shut up boomer.
Randy says "$1.2 million - that's like only 5 months of early pension benefits for me. What's the big deal?"