People are saying the gatt rate will be dropping to zero
Others say Pbgc will
Where is this information coming from?
I can’t find any official prediction of either.
6 replies (most recent on top)
Book mark this link... (you can check ANY month here)
https://www.pbgc.gov/monthly-interest-rate-archive
This page is updated every month... currently 0.00%
Verizon is always behind a few months... so while this rate was officially effective for terminating employment in Oct and collecting in Nov... for Verizon it will be terminating in Dec and collecting in Jan.
Now note, that there is no way in hell you can leave on Dec 31 and get your Lump on Jan 1... You can leave late in Dec and pick Jan 1 as your official Retirement start date... which will lock in your Lump Sum on Jan 1st.... But you will not actually get the Lump Sum until Feb 1st... (at the Jan 1st amount)
The reason you won't get it until Feb is you have to file the paperwork applying for the lump sum by the 10th of the prior month in order to get it on the 1st of the next month. And you can not "Apply" for the Lump Sum until AFTER you are off payroll. So unless you leave late in Nov or maybe Mon Dec 2nd... you won't be getting the Lump Sum in your account on Jan 1. Regardless as long as you leave the sometime during the month before the 0% rate takes effect... you can PICK the 0% month as your official retirement start date and get that amount... it just might take 1 or 2 months to get your money, depending on how quickly the paperwork is handled. With getting everything finished by the 10th of the month being the key date to remember.
Ask the Beni people and they will give you the details... especially if the off payroll date is do to a RIF or ISP EISP... they can't send you the paperwork until "They Get the Off Payroll notice from Verizon"... and no the notice doesn't show up within 24hrs.
@2hbc what the heck are you talking about? The PBGC rate dropping is not a rumor. You can find it on the government website.
Oh look! The douche is back with “go back to your garage”
Complete douche. Rumor starting douche.
Hi douche!
The Monthly GATT rate will be 2.12 on Jan. 1, 2020 and the PBGC rate will be at zero (0%) Jan. 1, 2020.
The rates for Nov. Dec. 2019 are higher. Best commencement date at this time is for January 1st 2020.
You could wait until 1st week December to check the Feb/Mar. rates to see if they go negative.
PBGC will be zero. Checkout PBGC.GOV
GATT Rate is 2.12. PBGC Rate is dropping to 0% in November. Google it.