Thread regarding AT&T layoffs

Bargained cash balance program

Has anyone had trouble collecting their pension from fidelity? I've been trying since August and they keep giving me the run around. I call once a week and get a different answer on why it's taking so long. Now they're saying telling me that att doesn't pay it until you're off payroll for 180 days.

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Post ID: @125UvrZ8

8 replies (most recent on top)

"Curious as to why you took monthly payments vs lump sum?"
It was a coin-flip, but I already had a 401K and a Roth. I also have a regular brokerage account. So, the bet was that this annuity would work so long as inflation doesn't kick in. It was a bit of diversification. So far, so good.

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Post ID: @125UvrZ8-1bvs

When I left on March 31, 2015 it took me two months to have my lump sum sent to a non-Fidelity IRA.

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Post ID: @125UvrZ8-1loi

Average time to collect is 6-8 weeks from the time that you collect it. I plan on waiting until 2020 to collect mine since it will go up with the new rate on Jan 1. I am TechM now.

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Post ID: @125UvrZ8-ojl

Curious as to why you took monthly payments vs lump sum?

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Post ID: @125UvrZ8-dqe

Well, I elected monthly payments, and started receiving them the month after I retired. They pay at the end of the month, not the beginning.

I logged onto Fidelity and tried to the the SPD, got SMM instead. So, I tried SMM, and still got SMM. So, I don't have an SPD to look at to see what the deal is. Since you're bargained, see if someone at the Union has an idea. I'm assuming you're trying for lump sum.

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Post ID: @125UvrZ8-sae

Off payroll 2/18/2019. Pensions checks received 4/18/2019 & 4/26/2019.

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Post ID: @125UvrZ8-nvv

That doesn't sound right. I was surplus'd and gone at the end of March. I met with Fidelity on April 23rd and decided to roll out everything from the AT&T 401K plan AND Pension plan into an IRA. The 401K funds transferred like overnight. The Fidelity Team bridged us on with an AT&T Pension Specialist to confirm everything and it took just under 4 weeks to complete the transfer out of the pension plan to the IRA on May 20th. There was no waiting period, it was just that was how long it took for the process.

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Post ID: @125UvrZ8-emh

I left the company in July. I withdrew my pension on that day, and it took 2 months for me to get my check. Fidelity wasn’t in any hurry to get my the money.

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Post ID: @125UvrZ8-hqa

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