Gatt rate went down again for the 4th quarter...to 2.80. This is even lower than it was last October when they offered an eisp (2.86). Everyone's pension just went up!!
21 replies (most recent on top)
Fair enough, I took offense to the idiotic nonsense @1mmc posted. GTE was NOT the best company.. not even close, their managers s---ed. The best, was NYNEX. All happened around the same time 2000ish and became the abortion known as verizon.
"GTE the best? Definately no way. We had a 1st level from GTE take over our garage, replacing our bell atlantic boss, and he was a worthless POS. He's since been fired thank god..."
Right, and no-one ever had a bad Bell Atlantic boss? Of course there were crap people in GTE, and in Bell Atlantic and MCI etc.
2wqp That wasn't the Honesdale garage by chance ?
GTE the best? Definately no way. We had a 1st level from GTE take over our garage, replacing our bell atlantic boss, and he was a worthless POS. He's since been fired thank god...
I don't know that GTE was the best, I assume very few here now worked at more than 1 of the legacy companies to be in a position to judge. However it is true that the additional pension rules help, when I took mine in Mar of this year, the GTE calculation was significantly higher than the alternatives.
But.... I remember the merger that formed Verizon. Bell Atlantic had Ivan, and we had Chuck Lee. It was embarrassing for us to see them together on stage, Lee was a total idiot whereas Ivan was smart and seemed CEO material. Of course, being intelligent doesn't rule out being evil as well, and Ivan did a lot of bad things, but it's hard to imagine a GTE under Lee doing well.
And there you go with another toxic comment illustrating why it's good to be gone.
Have a swell day jerk
immc.
Says the assh:"": from GTE.
1aaq - fGTE employees get an additional method to determine the highest pension payout.
Why? Because GTE was the best of all the companies that have become the abortion known as Verizon.
actually the lowest base rate from PBGC was .5% but it would be slightly higher dependent on the value of the pension lump sum amount. But still, was good enough ... didn't see it going lower but, at times, it was back down there. Newer rates are higher.
Must be different across the legacy units. I was fGTE and left back in 2015. My lump sum was based on the lower of the rates. In my case, the PBGC rate was .5% and that was enough for me to say bye bye after 40 years. I'm totally sure that if Verizon could have used a higher rate, they would have. Must have been something there from the GTE agreement/merger protections.
Lump sum buyout is affected by the gatt rate...rate goes up, your lump sum buyout goes down...rate goes down, your lump sum goes up. As far as I know, the gatt rate is only used for your pension.
Mine was lowest based on the pbgc rate. Do different plans here only use gatt?
Vz1 you are an expense to this company . Employees have not been assets for decades
If we are "assets" , offer us an eisp and sell us off!!
Got this from another site but it is accurate:
Verizon’s debt to equity ratio now stands at 4.9x, which is very high. It would certainly not surprise me to see this ratio tick up as we exit 2017. I do not see how the company significantly pays back their debt while maintaining their dividend. There is not enough cash flow to pay the dividend, let alone pay the dividend and reduce leverage. The only feasible way for Verizon to achieve this would be to start selling off assets again.
Sorry, my mistake. I was giddy when I heard the gatt rate went down!
Utv. Your canned. Feel better ?
"wink Wink" not "wink-wink"
Wireless side here....any talk about us getting canned??
It's coming!!! We already had a "wink-wink" signal!
No eisp coming only rumors