What exactly are the benefits of retiring if I don’t plan on drawing from my 401(k) and I don’t need healthcare through the company? Am I basically just giving up my employee discount? I’m trying to understand what other perks I’d actually be getting, because honestly, I’m having a hard time seeing what’s worth spending five more years here just to satisfy the Rule of 75.
21 replies (most recent on top)
The only benefit you get when you hit MR75 is that you are now eligible to withdraw without penalty if you’re over 50
You now get the same phone/fiber/internet air discount as an employee. When eligible, you get group Medicare advantage PPO with very low deductible. You can rollover your 401k and start investing in mutual funds and stocks of your own choosing. You can do the same if you have a cash balance pension.
Getting a better job somewhere else is the primary benefit. You honestly have no idea how bad things are here until you land somewhere else.
Everyone i know that has retired doesn't even get a cell phone discount anymore. They left at&t and went to consumer cellular for phone service. If work isn't hard then ride it out and see where it goes. You don't get health insurance, home phone or internet benefits after retiring they took it away several years ago.
Rule of 75 has nothing to do with your 401k
One key advantage to staying the additional 5 years is having the ability to tell family and friends you worked at AT&T for over 30 or 40 years.
Working anywhere long enough to build up enough funds to retire before everyone else your age is the real flex.
One key advantage to staying the additional 5 years is having the ability to tell family and friends you worked at AT&T for over 30 or 40 years. This is a nice flex to use when meeting new people and getting to know them. We see it daily on these boards.
@bc "I got a good jump in my pension lump sum hitting MR75."
It all depends on which plan you are under. There is no bump for Legacy BLS.
@b5 I see that “irony” is not a concept you’re familiar with.
I got a good jump in my pension lump sum hitting MR75.
You’re only giving up 5 years of pay.
You get a bigger discount using a plan like at Mint Mobile than that "sweet" 30% you are so proud of.
The only thing you really get that might mean something is the option to use ATT healthcare until you you are medicare eligible. COBRA only lasts 18 months and if you don't have options you have to go to back to your company's plan then you go to Obamacare. However, ATT care is not subsidized.
@OP Not sure if you’re in line for a pension, but we do get that sweet sweet 30% discount off of our wireless account so we’ve got that going for us
Call HR - they’re always there to help. LMAO!!!!
I told my boss to lay me off. He says doesn’t look like layoffs coming for sales. Just have to sit and wait
Zero benefits. Severance is the only carrot left on the stick and it is below average. The discounts are laughable. There is no reason not to just make them fire you at this point. The collapse is accelerating. There may be little severance for any of us when the private equity endgame happens.
Not a whole lot these days. If you’re pension eligible and depending on your legacy company, your pension may get a boost when you hit mr75.
“Rule of 75”
LOL
Or collect a check until you are fired. I see tons of people in my work collecting a check to do nothing.
There is no reason if you’ve got your finances and your insurance covered. That’s it. Go get your sanity back.