Can new management employees can a pension.? I've been at ATT for 2 years now and am hearing alot about pensions. I was just given information about a 401K and company matching. Can I get a pension too?
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Log into NetBenefits.com/att Look for the SPD(s) of interest.
Go to HR Onestop > Money > Savings&Retirement > Your Savings Plan > Plan Documents > Sign into Fidelity > AT&T Retirement Savings Plan SPDs
Then look for and download "20210517-SPD-ATT-Retirement-Savings-Plan-NIN-78-55634PDF" based on what is on page 15, it looks like those hired after 1/1/2015 do not get pensions but do get enhanced 401k, especially on the first 3% of Basic Contributions.
Based on the document, there are a lot of different categories of employees and varying amounts of Company Match for the 401k - so read up to see what may apply to you.
The enhanced match doesn't remotely make up for no pension. Even after they whacked the pension amounts.
The enhanced 401k is 100% match up to 6% of salary. The people with pensions get 80% match up to 6% of salary. For perspective, the difference is a $6k match vs $4,800 match on a $100k salary.
Is the pension really only worth $1200/year in the 401k?
nope sorry not to new employees. they took paying health care until medicare away a few years before I started so there was really no reason for me to stay.
took the lump sum and now making more money than if I stayed. and my lump sum is making way more money than if I didn't take it.
glad i don't have to deal with att anymore and glad I don't use any of their products anymore. life is too short for their creative financing billing.
Up to 6% a 100% match.
How much is the enhanced 401k match for new employees (asking for a friend)?
Private company pensions have gone the way of the buggywhip.
it was not taken away from anyone, it is just not offered to people hired passed a certain date
Your enhanced company match to your 401k, makes up for the pension. Older employees only get 80% match on 6% of earnings.
You must hire on to federal, state, city, or county to receive a pension nowadays.
No your compensation is worse overall and the older employees will also refuse to work extra hours or learn new things. They'll dump everything on you while they tell you that you have to pay your dues like they did - for benefits that you will never receive.
No - Ratty took that away from management.