I was understanding that the PBGC Rate was dropping to 0% for November which controls the Lump Sum for the first quarter of next year(the middle month, the quarter prior). Why is the rate now shown as .25?
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The rate is .25% for associates...0% for management.
Just filed for my lump sum too with a January commencement. The 0% rate was the boost I needed. It may go back down later in the year, but I'm not getting any younger, so I grabbed it while it's good.
Yes I retired from a “management” position but never managed people at Vz. I actually started in the 80’s as a 411 operator with C&P Telephone. Every job I had (after the directory assistance position) was the coolest job in the world. I worked in every outside role there was, installation, repair, cable maintenance, line gang, splicing, and was one of the guys fortunate enough to work on the early fiber optics and electronics teams. I finished in a sales engineering role. C&P, Bell Atlantic & Verizon allowed me to earn a great wage, provide for my family and afforded me an outstanding work / life balance. I had awful assignments and horrible managers and looking back those were the times that I learned and grew the most.
@1kvz. Well played, sir! I assume you are management? Would you know if the same option is available for craft? Congratulations on your retirement.
I left on 6/28 and have been chasing the falling interest rate ever since. I have finally settled in on a 0% rate with a Jan 1 commencement date. To get this rate the benefits center wants to see a completed, signed, notarized and returned package by Dec 10th. The Feb rate is .25%. A couple of things to consider in waiting. I have missed 6 months of growth in a record breaking market and every month my lump sum is decremented by one months annuity payment. For me personally the waiting made significant financial sense.
it is based on the middle month of the quarter nd November was .25
Remember when this was a reliable source?
Because you didn't listen to the flyer.
Who gives a p–p