How do you find out if your pension has been sold to Athene and you have lost PBGC protection or whether you are still under the AT&T pension with PBGC protection?
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They only did it because they care about you as a valued employee, not because they made millions on the deal.
When the execs found out there was millions to be made by offloading their fiduciary responsibilities to an insurance company. They couldn’t sign the papers fast enough. Athene operates in the Caribbean, hopefully they don’t lose your money because now you are reliant on individual State law to be made whole. Good luck, the States are underfunded for the State employee retirement plans. Who do you will come first in that scenario? By the way, there are class action lawsuits against AT&T and Lockheed for their actions..
So what was the prerequisite for having it sold to the insurance company? Weird
U can make bank that C Suite, Ed, Randy & Stink are still paid by the T & is GUARANTEED by the PGC as they would not gamble THEIR "extra unearned" income.
If you were, or ever to be impacted, by AT&T’s intent to transfer their pension obligations to another party you would receive or have received a letter from AT&T notifying you.
Assuming you have a pension and yet to have initiated it, you are probably still under the AT&T Pension plan, Fidelity Netbenefits should be able to confirm.
If you are here asking, your pension was sold to Athene.
Your check comes from athene….
I think the transfer was for retirees with annuities of 2000.00 or less.
Those affected by that were notified 9 ways to Sunday.