where can i find more info on this?
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no life time subsidies for health care for union employees when you retire you get a 6 month subsidy after that you’re on Cobra about 6 to 8 thousand a year for single , twice that if your married . not sure about 75 rule. maybe to collect pension. if you only have 20 years and you’re 50 you wont get much and may not be able to collect until 65. not sure. you need close to 30 years or more, even with 40 years its about half your salary. with 40 years top pay will get about 400 - 500 k lump sum. need a healthy 401k then you can go
I don't agree as I modeled my retirement on fidelity 58 and 25 years.,,,no one could live on the pension but if I wait to 65 it grows substantially...….
Folks here better check the newly "modified" rule of 75...no longer equates to years of service and age must equal 75....There are new rules......50 must have 25 years of service etc. etc
@1jks --- Is there a minimum age to be able to draw from pension?
This business of some people being eligible for retiree medical and others not based on the company they got hired into is complete b---s---.
Put in multiple dates on Fidelity to retire, 65 age is not always the best. There is not that much to gain. The big jump is from 53 to 55 and 6 months dependi g on your age. If I wait till i'm 65 I would have 44 years here. Not going to happen. I currently have just over 28 years and just turned 50
@1iiq Re: "I get to retire when I'm 50 and get a monthly pension?" The "normal retirement age" for the pension is 65. That said, you can start your benefit at age 55 if I am not mistaken (someone correct me if I am mistaken)...but you'll be better off delaying that for as long as you can. Run the estimates on the Fidelity site, you're talking about significantly more $$ monthly if you can wait until 65.
If you are making assumptions off a chat board, you are going to likely be disappointed. This is a huge part of retirement decision and you need to get the information from benefits. Hired in 99 60 years old..I will never qualify for heathcare benefits due to the year I was hired by Ameritech.
@1zjs I am legacy SBC, Cingular management, hired in 1994. I have a defined benefit pension in addition to my 401K.
28 years and only 51, Almost ready to pack it in, I will give no warning, just gonna show up and and say good bye!
34+12... no way will I make it
In 2025, I will meet this (age 50 and at least 25 years). I'm legacy SBC (Ameritech). Does this mean if I'm still here, I get to retire when I'm 50 and get a monthly pension? (not so naive that I know I'd need to get another job. Just weird to retire from a company at 50).
I was surplused last year and still qualified for retirement (health insurance, pension and severance pay (legacy T union contact). NCS date of 1997 and left at 59 with 21 years of service so I qualified for the rule of 75. If you are within a year of meeting the rule of 75, you can request a TLA "transitional leave of absence" in order to qualify for retirement. You can find more info on this on the HR website. I can't provide info if you are management since I'm not familiar with that.
1sph : You can get severance but not subsidized medical when you are retired. Also, it looks like Legacy T does not even get discounted services when retired if you have less than 5 years term as of December 31 1999 but still meet the 75 number now. You would have to have a NCS in 1994 to qualify for Legacy T.
You are considered an AT&T Access Program Participant which disqualifies you form subsidized retirement benefits. Do a search in HR Onestop for “Access Program Participant” The HR # listed in the Retirement Benefit Guide is no help.
I am at a loss in finding info on subsidized health benefits and employee conscessions. I was hired Aug. 1999 by Pacific Bell. I hit rule 75 this year. Does anyone know?
Modified 75 is confusing. I can’t get straight answers on what I’m entitled to. I have 22 years (NCS June 1996) and was with Legacy T. If/when I’m laid off, can I get severance AND retirement benefits such as discounts on services, healthcare coverage at discounted cost? Would really appreciate some insight. Thank you
in 2005 the SBC lawyers went to work and ensured that all Cingular and former ATT Wireless folks were excluded from the retirement benefits that legacy wireline folks enjoy. That means NO subsidized health and NO monthly pension checks for life. They did concoct a small "pension" fund that AT&T contributes to but it is a finite amount as opposed to being a percentage of your salary for life. Some time after 2013 they eliminated the pseudo-pension for new hires and slightly increased some aspects of their 401K plan. So the "Rule Of 75" is pretty meaningless for non-Legacy folks..
BTW, 3 to 5 years back the same lawyers snuck in and volunteered everyone for arbitration (unless you were quick and opted out) so no right to sue about anything even after you leave the company.
@ywg. I talked to HR and was told I did not qualify for subsidized health benefits after retirement of 20 years over 55 due to Cingular and being hired after 1997. Then I was told I did qualify according to the rule of 75. So I called back and talked to an HR supervisor and she confirmed I DO NOT qualify for sub health benefits post retirement even if I meet the rule of 75 by 2020. You have to keep pushing for answers getting 2nd, 3rd or 4th opinions.
So by way of cingular, hire date is 1998, am i eligible for medical benefits when I hit the rule of 75 ? I too called HR and I stand a better chance at finding jimmy hoffa
I have hit the modified rule of 75. I was hired by Bellsouth mobility in 1992. I am looking to retire since I am way past the age 50. I have spend endless hours trying to get any information on my retirement benefits. I've called the benefits center many times and each time I get a different answer. I've called HR Onestop and only to have hit a brick wall. All I want to know if I qualify for subsidized health? Does anyone have any insite? I have found a document talking about SWBW and EDGE transition groups 1 thur 4 but it does not define what these groups mean.
MTP benefits include basic life insurance (one year salary) + access to health care and dental benefits (at rates higher than employees, mine costs over twice the rate I was paying as employee). Also includes retiree discounts of 30% on cell service.
There is a also a stipulation that if you are within 24 months of qualifying for rule of 75, then you get it.
Although I got the impression that all benefit are not guaranteed in the long term. So a psychopath like Stephenson might well trim those benefits in future.
I personally don’t hold a grudge at these antics as the kind of work ATT does , does not require top notch skill and that the going rate has dropped due to offshoring and automation.
VZ might follow suite as some point in time. Today’s IT is yesterday auto manufacturing workers.
I will get nothing as far as retirement benefits (healthcare & discounts) even though I have 22 years and I am 57 now. I meet the 75 rule, but because I was hired by Legacy T I get zero benefits other than pension when they officially let me go on Monday (already told I will be gone by my manager).
Legacy T employees have to five years NCS by Dec 31 1999 and meet the rule of 75 to qualify for healthcare coverage when retired. It is the same issue for discounts.
Depending on which company hired you AND the date you were hired, determines your benefits when you retire. Rule of 75 or not. Call benefits and get it in writing. Hint MTP is a waste if you don't get your benefits. 71
Coming by way of Cingular does not exclude you from the Rule of 75. It applies to everyone who wishes to retire. What benefits you get when you retire is when your employment date and what previous companies you worked for matter. There is a 298 page SPD on the NetBenefits site that outlines what you get and the the requirements to meet the Rule of 75. I called for guidance on this and they directed me to the doc, offering no help, only to call back if I could not determine my classification and benefit package.
Where did you hear that? I'm in the same boat almost. Are you saying no retiree benefits for former Cingular employees hired after 1997? Everything I see on HR says we are entitled to the same benefits
For clarification, the Modified Rule of 75 has significant bearing on eligibility for Retirement Health and concession benefits, more so than Pension eligibility. If you are not eligible for a pension, the Rule of 75 may still apply.
@yjz, check your math again and re-submit....you may already be in the bracket
Call HR. I will meet the 55/20 year mark in 2020 but it doesn’t matter since I’m formerly Cingular and was hired after 1997. I get nada when I retire even if I last to 2020 so the rule of 75 doesn’t apply to me even if I meet the criteria.
its available via hronestop
any age and at least 30 years
age 50 and at least 25 years
age 55 and at least 20 years
age 50 and at least 25 years
age 65 and at lest 10 years 10 years
all the above is completed years of service
so for me, I am 55 years later this year and 25 years of service. I won't hit m75 until I complete either age 55 or 25 years of service this year whichever comes first