Did anyone receive an email urging the AT&T Legacy folks with the magic 75 to leave by EOY 21 or they will lose some retiree benefits i.e. medical? If so, can someone post the contents of that email? Thx!
11 replies (most recent on top)
So the way I understand this is, if you are rule of 75 right now, best plan to retire by the end of the year or you will lose all medical coverage. That could be worth $100k+ over the next 10 years. This is simply a way to push those retirement eligible out the door. I would wait until end of the year and then pull the trigger if I were you. Or if there is a layoff package with 6 months sev, I’d opt for that and see you later. Either way, plan to leave by the end of the year.
Except for the top employees medical benefits will become a thing of the past!
Let's remember this one regarding benefit once Medicare eligible.
http://cwa3105.org/images/HR_Retirement_Change_Q_A.pdf
If affects both management and bargained‐for employees who retire after Dec. 31, 2020.
This change will not affect your eligibility to register for different Medicare options through the Aon Retiree Health Exchange, but you will no longer receive the Health Reimbursement Account (HRA) subsidy.
As of this year, if you are not currently retired, you are out of the running for an HRA once Medicare eligible.
My last year on pre-Medicare coverage - plan went for $10,000 and was free to me. $10,000 buys a lot of big Macs.
This is an interesting thread. When the newly acquired companies employees where being treated poorly the response was too bad, s— it up. We are AT&T and you are lucky to work here. Now that the shoe is on the other foot you want to complain that all your hard work isn’t being recognized and feel sorry for me. Maybe this has taught you all a valuable lesson that the only people who are secure are the people making the rules. Everyone else is fodder
They take vacation days away from you and medical if you don’t leave by end of 2021,,, but make sure you work your a– off while you are here and do all the meaningless training,,, what a waste this place has become
Never mind, sez management.
Was this e-mail targeted to Leg-T management or union employees?
I don't remember seeing, will check my deleted mail.
So instead of retiring early, I'll milk it until I'm medicare eligible.
She didn't even sign this as SINCERELY. Or Respectfully. Or Unfortunately.
Or even some other Action Verb such as F..K — Y.U.?
Now that's how you take care of valued employees. Why would any young person ever go to work for T?
My Dad told me that when he went to work for SBC in 1950 - my mother made $7.50 more as a bank teller per week and even a Dallas bus driver made $5.00 a week more than he did as a Switchman at the DLLSTXTACG0
I suppose someone has to pay for executive level mistakes and to ensure that the executive class gets their
pay, bonus, stock options and perks.
From Earlier Post With Email On Changes To Benefits:
"Retirement benefits, including pensions and health, are key components of your benefits package and are regularly evaluated to see how they compare to what other companies like us are providing to their employees."
TRANSLATION:
AT&T benchmarks its compensation and benefits against competitors. For the Executives the company benchmarks against the best compensation and benefits offered by competitors. For everyone else the company benchmarks against the bottom tier of compensation and benefits offered."
So who opened a class action lawsuit or who is going to? I am ready to sign! This is BS, thanks for the years of hard work, sacrifice, etc.....
To: Select AT&T management employees
(This is a targeted message — please do not forward)
What you need to know: AT&T provides a comprehensive compensation and benefits package to help care for you and those who matter most to you – your family. Retirement benefits, including pensions and health, are key components of your benefits package and are regularly evaluated to see how they compare to what other companies like us are providing to their employees. As a part of that process and to better align some of your benefits, beginning Jan. 1, 2022, AT&T is updating the following benefits for which you're currently eligible.
Pre-Medicare healthcare subsidy: Retirement eligible individuals whose last day on payroll is on or after January 1, 2022 will not qualify for a company subsidy (meaning AT&T will not pay for a portion of your monthly premium) for medical and dental benefits in retirement. However, eligible retirees and dependents will continue to have the ability to enroll in the AT&T group medical and dental programs at the full cost of coverage.
AT&T-sponsored pre-Medicare medical and dental programs include generous options compared to those available on the individual market with valuable plan features such as lower deductibles, broader doctor and dentist networks, expansive d–g coverage, several services at no cost, and many d–gs bypassing the deductible. In addition, the plans provide access to tools to help manage your health and well-being such as Castlight, Grand Rounds, Livongo, and Sleep Charge Health.
If your last day on payroll is before January 1, 2022, this change does not apply.
For more information on pre-Medicare medical coverage offered to eligible retirees and dependents in 2021, please click here for the Summary Plan Description.
If you have any questions about this change to your pre-Medicare healthcare subsidy, please call the Benefits Center at 1-877-722-0020 (M-F, 7:00 am – 7:00 pm CST).
Retiree life insurance: Effective January 1, 2022, AT&T will continue offering you subsidized retiree life insurance, but now at a flat $15,000 benefit, which when offered, is slightly above the average market standard for retiree life insurance benefits. There is no impact to your life insurance as an actively-working employee. There is no action that you need to take.
If you have any questions about this change to your retiree life insurance coverage, please call the Benefits Center at 1-877-722-0020 (M-F, 7:00 am – 7:00 pm CST).
More information: AT&T provides generous retirement savings vehicles to help you prepare for retirement via your 401k and company match, health savings account and company contribution, and pension accruals (where applicable). Below are additional resources to learn more.
Resources
• Use this Retirement Guide to help you prepare for retirement, when the time comes.
• If you need help refining or creating a retirement plan, take advantage of the Fidelity retirement planning tools and Financial Engines.
• For health coverage or life insurance questions call the AT&T Benefits Center at 877-722-0020.
• You can also review the Where to Go Guide for contact information of all AT&T benefits providers.
Angela Santone
Senior Executive Vice President – Human Resources
AT&T Inc.
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