Interest rate drop for every 1/4 point raises lump sum payout approx 9%, that is for GATT, pbgc rate is not effected. I believe managers get pbgc, verizon east associates gets whichever pays the most. Verizon west is different and that needs further looking into as I am not familiar. 401k is investments, so it effects depending on investments and how market reacts.
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https://www.cnbc.com/2019/10/30/fed-decision-interest-rates-cut.html
The only thing your 401k has to do with interest rates depends on what you’re invested in. If you’re invested in the banking industry it may go down, if you’re in real estate it may go up.
Otherwise interest rates have nothing to do with your 401k. You need to learn more about managing your money.
Just get multiple streams of passive income going like us ridiculously overpaid wireless people and you won't have to worry about PCBG's, GATTS's, EISP's or what the Fed is going to do. You just get to enjoy life while the cash rolls in.
You all are on here asking about this nonsense so much it sounds like life or death to make the next Harley payment. Relax.
Not only is the article 7 yrs old....but the pensions covered were just for managers only...not union
uh, that article is 7 years old
https://www.pionline.com/article/20121017/ONLINE/121019896/verizon-transfers-7-5-billion-to-prudential-in-partial-pension-buyout
nothing for wireless but union side it means CHAAACHIIINNNNNGGGGG. YEEEEHHHAAAAA.
If they are selling the pension liability, “de-risking”, then ERISA doesn’t apply. This is a serious consequence.
Where is the information about them selling pensions?
Just because they lowered the rates doesn't mean PBGC will drop again, that is for management. But it's possible it will go back down to 0% for March. Right now Jan is 0, Feb is .25, and on 11/15 we'll know what it will be for March. Not sure how it impacts gatt for union pension.
Well they just lowered them a quarter point, now what?
What does that mean for the pensions by selling them off?
It will go through the roof
Verizon is selling off its pension liabilities. It is part of the $10 billion in cuts.