Thread regarding AT&T layoffs

Final WARNING to save your pension Lump Sum

For those affected by the increasing segment rates, you still have time to make a decision to leave and save over 30% (at least) of your pension lump sum.
In most cases the pension commencement date is 12/1 so that means you need to be off payroll by 11/30 at the latest.

Call Fidelity ASAP and use the estimate tab to calculate what you will lose with the new segment rates.

Not everyone is affected, but those that are will be shocked come next year.
In my case, from 12/31/22 to 1/1/23 (span of 1 day) I would have lost $161,000+. I left in September because of this reason. This is money that will not come back. Sure, rates may go down again but those rates will reflect on the new balance you will have in 2023 and beyond.

Best wishes.

by
| 3068 views | | 42 replies (last December 1, 2022) | Reply
Post ID: @OP+1jQ0P3HJ

42 replies (most recent on top)

example: use $100,00 at 30% reduction results in $70,000 base. Then a 30% increase (0.3*70,000) is a $21,000 return. New base is $91,000.
plus a long wait (5 years) for rates to change back)
contact Fidelity to verify if assumption is correct or if base is determined by value of monthly benefit.

by
| | Reply
Post ID: @xlh+1jQ0P3HJ

Yup. In the next few months we'll have posts here "What happened to my lump sum."
Good advice.

by
| | Reply
Post ID: @fsi+1jQ0P3HJ

Post a reply

: