Is there any material benefit to the rule of 75 at this point?
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if you have att fiber 50% off. i have a competitor fiber plan since att only offers facked wireless.
AT&T life insurance for retirees who met mod rule of 75:
Management $10K
Non-Management $15K
Don't believe it? Look it up or call at&t benefits.
Price out insurance - I bet that ATT pre 65 retiree insurance is couple hundred lower than heathcare.gov with a lower deductible. Only way gov pricing would be cheaper if your income drops below 50k.
MR75 has nothing to do with retirement gift and dinner.
Take the lump sum and make a run for it while you can.
Modified Rule of 75 means you can retire or leave and start taking the monthly annuity immediately. Until then, no dice also, if you are occupational then you still can continue on the company medical plan for the same rate as active employees.
For mobility folks, they can take the retirement dinner and shove it where the sun doesn’t shine.
NO - MR75 is a joke....it used to mean something, not any more....
Thanks Stank!
Correction: Life Insurance is $15,000 for Management.
Life insurance, a benefit? You gotta be dead to use it!
$10K for Management
$15K for Non-Management
I play cards with seven other at&t retired folks monthly. We rotate to each persons house, it's funny, we all have our grandfather clock retirement gift on display. Looking back now, it's hard to believe the company ever provided these clocks as a retirement gift! This was prior to Randy and Johnnie running the company into the ditch.
You still get $15K in life insurance as a retiree. Of course, they could take that away tomorrow.
"I am a 60 and looking to retire within the next 6 mos….”
Logon to Facebook and search for the AT&T retiree issues group. Click the button to ask to join that group. Any question you can think to ask has probably been asked and answered there.
Can't believe how many chumps stay with at&t wireless after retiring. What a fricken ripoff! Go to TMUS and save 50% off at&t concession price. Don't let at&t rip you off, stand up for yourself!
"I am a 60 and looking to retire within the next 6 mos. While not Medicare eligible, reviewing all the docs I have thus far I did not see (or overlooked it because of much age) anything about the Advantage Plan. Is it something available to all when the time comes or just those who retire and ready for Medicare?"
It's available only for people medicare eligible, but here's the link on it. It is available for this year's retirees and earlier, but I don't know if they will even offer it to the next class of retirees. https://retiree.uhc.com/content/dam/retiree/pdf/att/2024/ATT-2024-UHC-Educational-Brochure.pdf
The gold plating on the retirement gifts now comes off in your hand!
“ Leave prior to that and the annuity payment which starts at age 65 is your only option“
This is incorrect.
Medicare Advantage Plan, specifically for AT&T retirees who are medicare eligible.
I am a 60 and looking to retire within the next 6 mos. While not Medicare eligible, reviewing all the docs I have thus far I did not see (or overlooked it because of much age) anything about the Advantage Plan. Is it something available to all when the time comes or just those who retire and ready for Medicare?
Only Bennie you get now is a decent retirement dinner, limited to $500. Pick the best steakhouse, grab your best friends, eat and drink like you ain't never drank and ate before. Burn up the entire $500, you don't get extra credit for saving any money. You can also pick a junk retirement gift, no more Grandfather clocks! Sorry!
Mobility and BellSouth pensions are cash balance and not ones you get a bump after reaching MR75. Other carriers give you better rates on cell phones that T's retiree/employee discount - I have been on T-mobile over 15 years. You get a $500 retirement dinner and a gift is about all you get if you are BellSouth or Mobility
No. The Southeast Region has always (almost) been able to get their pension lump sum. So MR75 means nothing now but discounts on services, a plaque from Stankey, retirement party or dinner and a gift.
Once you’ve reached the MR 75 milestone you have the option to take take your pension as a lump sum payment. Leave prior to that and the annuity payment which starts at age 65 is your only option. I’ve seen many comment about a bump in pension at MR 75 which May be the case for some parts of the company, but in the SE that is not the case. The only variable that affects your lump sum payout is the 30 year bond interest rate. It’s updated every November and when the interest rate goes up, your lump sum payment may be decreased. Log in to Fidelity to view your pension / 401k. They have a pension calculator and links to all the 411 you need to weigh your options
No.
I will reach MR75 next year. I did some analysis to determine if it is worth it for me to stay until I reach that milestone,, and decided it was not. Some pension plans apparently have a bump when your reach that, but my type of pension (cash balance) does not. You can determine that by accessing the Fidelity tools to see expected pension values at various dates. The mobile phone discount is actually not even as good as T Mobile is in my area. I can do without the gift and dinner. Finally, as far as health care goes, AT&T is offering current retirees the ability to join AT&T United Healthcare Medicare Advantage Plan, specifically for AT&T retirees who are medicare eligible. This plan does look good on the surface, when compared to other Medicare Advantage plans, and might be a good choice for some. However, after doing very extensive research in this area, I decided it wasn't for me due to locking in to an Advantage plan, which can have consequences down the road. (There is much to consider there and it is highly dependent upon where you live). So for me, no. I am going to leave prior to my MR 75. Best of luck to you.
No real benefits. "Access" to healthcare plan (read: pay full price, no subsidy, and you can likely do better on your own). The retiree Mobility plan discount (30%) is a joke, as I can even beat the employee discount (50%) handily as a customer off the street elsewhere.
Cell phone discount and a cheap retirement gift.
If you are an L3 or above... there are some advantages related to LTIP... other than that... I dont really think it matters much anymore...