I was involved in 4 layoffs (surplus) in 4 years and didn't make the last one - I didn't want to relocate to Atlanta. Go figure - I was in Dallas (HQ) and they wanted me to go to Atlanta!
I can assist with questions if anyone has any. FYI - I was a 3rd level when I left the company with my 6 month severance (which I deferred to March).
Help! My husband was just laid off. He has 30 years and is 52. It looks like the Severance Allowance pays out more than the Management Transition Program. So why are folks saying it's better for him to take the Management Transition Program??? The payout is HALF. Is it for the benefits? I carry our health insurance, but his AT&T life insurance is better. Can he take the severance now, then take his retirement later, say when he reaches 55?? If he does this, will he be able to get the retirement life insurance and vision benefits?
No if you don't meet the rule you won't be entitled to the retirement benefits. It's all or nothing
You were a director? I would have moved. It's very difficult to get an executive job. I did the commute from Dallas-Atlanta because the relo package was a joke. However, all my life I have moved around. It's a bit of an inconvenience, but moving opens up a lot of good aspects as well. Atlanta is lovely.
Try and hold on to make that magic number of "75". The savings you will make on monthly benefits (medical, dental and vision) is worth staying the extra months. This decision will affect the rest of your life time budget. I left as a 4th level 3 years ago and now the happiest person alive!!!
If you are within 24 months of retirement eligibility you should be eligible for the Management Transition Plan instead of the Severance Allowance. Check the ATT Severance Pay Plan document for more details.
Check out if you are within 24 months of meeting eligibility for retirement you should be eligible for the Management Transition Program instead of the Severance Allowance. Download the ATT Severance Plan for more details.
Yes, your pension should be vested, but you will not be entitled to health insurance benefits if you leave before you meet the modified rule of 75.
I don't meet the rule of 75 until next July (2017). If I sever (either voluntarily or involuntarily) do I still get my pension? I've got nearly 22 years w/the company and I need to know if I will still have it when I do retire. If not, I've got to try and make it till rule of 75.