Tentative Contract Extension
Good extension. 11.2 % pay increase, 3 % pension increase...… Great Job CWA and IBEW!!
7 replies (most recent on top)
Th posting about the VZ contract is not accurate, I actually y went on that site and this is what i saw “The tentative deal includes 2.5% wage increases in 2020 and 2021, a 2.75% increase in 2022 and a 3% increase in 2023. It is subject to approval by the unions' members in August.” thats a total of less that 11%, lot less like 8.25% also there ar the same complaints on that site as there on this site. So i guess the grass is not necessarily greener on the other side of the fence huh?
Sorry about wrong per cents. I used the numbers from a company mailing. I could not find the original, but had these numbers in my tracking sheet. Thanks for the revision. In the post about lump Doesuspect the person is near retirement. The 5 year breakeven would be close. A guaranteed amount not subject to market risk.
Regarding AT&T current funded pension ratio as of Dec 31, 2017. See link below from “Pensions & Investments” article dated Feb 21, 2018.
As of Dec. 31, the company had $45.46 billion in DB assets and $59.29 billion in projected benefit obligations for a funding ratio of 76.7%, up from 75.9% last year.
http://www.pionline.com/article/20180221/ONLINE/180229963/atampt-to-dial-up-560-million-in-pension-contributions-in-2018
The pension is guaranteed and about 96% funded, down from 98%. AT&T can not remove funds from this account, but can stop increases. The lump sum is for those in poor health or those that feel they can invest better that a fund manager. The break even is less than 5 years. The PBGC ( Federal Pension guarantee) will cover about half if the funds decline in value.
For the longest time I had planned on taking an annuity from at&t at retirement ... no freakin way now. The Titanic is right, I am getting my lump and severing all ties! People think that at&t is like the old bell with the dividend etc... I tend to think it is more like Frontier and ready to implode.
If you have more than a few years to go, sincerely .... Good Luck to you, I hope you can hopscotch around enough to get your service!
The company can't keep overpaying for mergers that end up not working anyway and last much longer before collapsing.
Current Leadership - not just Randy will doom this company. ATT is the new GE, Sears, HP - Companies that lost their core direction, lost innovation and the employees will lose their jobs due to management.
Clueless on how to create anything. The reason we ahve to buy everything and partner on everything is due most 4th and above are there due to attrition, favoritism, nepotism, very little talent. This is not the crew to lead T out of the malaise
The TW deal - Think AOL - we got s---ered
Why is everything going so smooth at Verizon? Could it be because they dont have a maniacal leader that feels the need to buy a new company every two years ? Because they dont have a leader that craves star status and bonsai headlines ? Me thinks so ! We could have all been on-board with a profitable ship for many many years but for the ego of one guy and his psychopath, brown nosing kiss A---s !