Thread regarding AT&T layoffs

Note that lump sum payouts of the pension & 401k can & ought to be rolled over to regular IRA for pre-tax and to ROTH IRA for post tax 401k. That way you can invest & regulate the withdraws to suit your tax & need situation. The tax consequences are considerable in cashing out 401k & pension lump sums into outside of sheltered accounts. #rollover #roth #regularIRA #401k

If you are within 24 months of teaching the rule of 75, then you qualify.

As to the MTP benefits, it includes free basic life insurance (one full year salary) + healthcare plans (will cost you about twice as when you were fully employed but still worth why depending on your situation)

The products discounts are ok but not that great.

Anyway, realize that if get another job you won’t likely get pension/ retirement benefits. So that’s your last chance at it no matter how unfavorable. despite what you hear, ATT has sound long term survival odds.

@1hst & @1hky, your obviously one in the same person....and that’s ok. When I submit a post I often wonder, no matter how detailed, if I could’ve done it better....you did.

Many good tips:

Early use of the HSA to cover the 12 months of Cobra.....don’t want to but will if necessary, good idea.

Did not know about the “ages 55-59” rule on the 401K.

The Pension Annuity, starting at age 65 suits me, and will transfer to my wife should I pre-decease her.

My suggestion, we have 15 days to get out ahead of this....assume you’re getting RIF’d, go back over the last year of expenses on everything and figure how to cut back costs....if you survive this round, you will definitely gain an education going forward.

@1kru, you are in a different category than married couples who can leave their Pensions to a spouse, unmarried employees can not do that (not even to a parent, brother or sister) and need to make choices, and your Fidelity rep soaked up all the facts and advised correctly for you. Best of luck.

I am sorry PLEASE take your Pension and place in an IRA. I was advised by a rep at Fidelity to remove the Pension because in the case of death there is no guarantee AT&T will not pay it out as it belongs to them.

Ride it out until you are ready to volunteer for a RIF.

If you are layed -off it's not the end of the world.

There's 18 months of COBRA, 6 of which are subsidized. You can pay premiums out of your HSA balance.

MTP isn't worth the cost. Review it carefully before requesting it.

You can leave your pension in place up to age 65 & take it when ready. It continues to grow.

Obamacare provides you catastrophic coverage if you can't find a corporate welfare job right off.

There's unemployment insurance that ought to pay something for six months. Wait for the severance check, then apply for it if there's not an immediate job offer.

Unemployment is low. Find an interesting gig.

Take all the Agile courses you can and attend local SIGs. Just the education component and being conversant looks good. The SIGs can provide great contacts.

I volunteered in 2016 at age 63+. No regrets.

Ride it out, see where things lead

Worse case scenario, file for unemployment.

If you have a 401k you can take a disbursement between ages 55-59 if you left the company involutarily without Federal 10% penalty, you will still have to pay @ 25% Federal taxes hiwever. If you overpaid on taxes it will all shake out when you do your tax returns.

Know that when if happens you may feel a huge sense of relief, like a burden has been lifted off your shoulders. Take a few weeks/months to enjoy life and your head will be clearer and the answers on what yo do with your life will come yo you.

Agile methodology does make sense for those in software development. Those of you in that world will find you need to get fluent in that or find a new niche. That said, it does not really work for other infrastructure, deployment, or other projects. Typical AT&T, late to the party, one size fits all mentality mindset with the buzz and push on Agile.

What are you asking? Are you asking if you should stick it out? Or volunteer for layoffs? I’m not sure I understand your question

I am in IT- in my opinion, agile is b---s---. And- it requires in office presence. I am pretty much done with all that.

I was in that same boat last year missing it by one month. I was ready to call it quits until I was reminded on the dedication and time I gave to this company and to not throw it away.