Thread regarding Frontier Communications Corp. layoffs

25 YEAR+ Vested Employees😮

On April 14th 2020 Frontier Communications field for Chapter 11 Bankruptcy. It’s an unfortunate situation for many vested employees but for those that had 20, 25, 30 or beyond and where at retirement age it’s a very regretful situation. For months now multiple post have been displayed warning of BK and what it meant according to Milliman. As of now the LUMP SUM option is locked and only a annuity is available. Please educate yourself! Also it’s a very unfortunate situation for FIOS techs from the CTF footprint that vested years into the FIOS layover. There is no telling the longterm affects of exposure to Laser Light and other multiple chemicals that techs have been exposed to over the introduction of FIOS back in 2005. Only time will tell......

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Post ID: @OP+14vdcOU9

12 replies (most recent on top)

Never knew frontier had so many lawyers moonlighting as technicians. No wonder the work never gets done. Haven't u guys realized u were royally screwed. Go back to sleep in ur van.

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Post ID: @Nyez+14vdcOU9

The lumpsum can return once (if) the company emerges from the Chapter 11 bankruptcy, provided the pension account is at least 80% funded. If it's only 70 - 80% funded, up to half of your pension can be paid as a lump sum. Currently, the pension is 86% funded. The company sent documentation to every one of us, y'all should read them before forming opinions. Yes, they have a lot of big words printed in a really small font, but you can do it. Every question or gripe posted here about the bankruptcy could have been answered by just reading the fine print.

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Post ID: @6ptn+14vdcOU9

Why anyone would pay union dues while at Frontier at this point is beyond me

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Post ID: @4oqc+14vdcOU9

i doubt that frontier's pension is fully funded. If it's not Frontier's pension may be transferred to PBGC where people retiring at age 65 will get an annuity, however, if it is transferred the retired employee will received only 80-85% of their annuity depending on how they file, single or married. If Frontier comes out of bankruptcy, lump sum will never be an option. talk to your union leaders, you "leftovers" need answers, lets see if you can get answers from those Fs. if not, educate yourself. The company will F You and so will your union

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Post ID: @3dzr+14vdcOU9

yes union members, your union failed to educate you or at least give you enough information to make a decision. in california they were picketing picketing on April 8

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Post ID: @3jjs+14vdcOU9

the option will not return if the PBGC has ownership and distributing the annuities. april 1st was the last date of the lump sum. once that is initiated it cannot be revoked. May 1st, well keep working....

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Post ID: @3smq+14vdcOU9

Pension fund is separate from the company. The court will decide the obligation the company that is left has to the fund. Any markets or assets sold have no obligation to the fund or employees. All responsibility lies with Frontier. Or whatever is left of frontier.

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Post ID: @1sqd+14vdcOU9

Pension fund is separate from the company. The court will decide the obligation the company that is left has to the fund. Any markets or assets sold have no obligation to the fund or employees. All responsibility lies with Frontier. Or whatever is left of frontier.

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Post ID: @1qbz+14vdcOU9

Annuity is just as good as a lump sum. You still get your money.

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Post ID: @rpj+14vdcOU9

Please educate yourself , lump sum could return if courts don't get Involved with pension. Understand company would be better off by annuities which would fund the pension without the company having to put money in it every year. 1,500 to 2,000 dollars per month for employee that leaves is nothing for the pension ,but when 2 employees that retire with about 30yrs each takes about a million from the pension, so what do you think the company would like to do. Plus in 1 to 2 yrs your lumpsum is based on the rate at that time. Don't think this company or courts are looking out for you, its what's best for the company. Hope the Best..

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Post ID: @pye+14vdcOU9

The lump sum is only locked during chapter 11. Once they come out of chapter 11 the lump sum Option will return.

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Post ID: @pnf+14vdcOU9

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