Can someone give more details please?
22 replies (most recent on top)
When is this supposed to be announced?
@5xkc+18f7xqx good for you...But everything you stated doesn't contradict my post at all. If you currently contribute 10% or higher you get an extra $.20 per $100 in wages. For the folks that don't then they have to contribute 40% more per pay period to get that extra $.20. That is what I am pointing out. Very simple.
@5mqx. Most financial planning guidance I’ve seen recommends contributing 15% to your retirement savings. The new -topsail aligns to that...10% coming from employee and 5% from AT&T.
I contribute more to 10% to my 401k now. I like this change.
To the people saying its a better deal well it depends how you look at it. Currently, the match is 80% up to your 6% contribution. Basically, for every $100 in salary you put in $6 and ATT gives you $4.8 for a grant total of $10.80 per $100 in wages. So you put away 56% of that total into 401k while ATT contributes 44%.
New rumored plan is: You put in $10 while ATT matches $5 for grand total of $15 per $100 in wages. Yes that is more money but only because you contributed more. True also, that you get $.20 more per $100 in wages but you are now contributing an extra $4 per $100 in wages which you can do right now. In percentage basis you contribute 66% towards your 401k while ATT contributes 34%.
Now to put it into the best perspective, your paycheck goes down because you have to put more money towards your 401k to take advantage of ATT new rumored 100% match.
Do you get it now? You have to contribute an extra $4 per $100 in wages to go from 4.8% total match to 5%. Think about it.
I have been following this thread with interest. I was surplussed this year from t with over 20 years service. I landed with one of t’s competitors. They match 401k up to 6% at 100% and its in cash not stock. You have to stay for 3 years to be vested, which is not bad. they also give you restricted stock and also a bump in your 401k depending on earnings. I am glad I am there. I still appreciate my time at t, sad that so many good people are struggling there wondering if they will have a job in 6 months. DId t send a news now about the 401k change or are people just speculating?
OP who is giving you that deal?
The 401k match I mentioned is not in your cash account unless you designate your investment to be in cash. I mean they dont put the money in company stock. DOnt get me wrong, a match is always a good thing even if its in company stock. People need to make sure they diversify away from company stock as soon as possible, as for me, i dont have to do that since the match goes right into my current allocation.
" Correct... which, if you contribute 10%, is MORE match than 80% of 6%. "
Irrelevant for the majority of us not on a pension. Then it was full match up to 6%. This is a drop of total contribution (6%->5%) assuming you max out.
"They match 401k up to 6% at 100% and its in cash not stock. "
More is better, of course, but T's match can be sold the day after you get it, so it's really not a big deal it's not in cash. I typically move mine to whatever fund is currently under performing my asset allocation when rebalancing.
I would do the same with cash, as it really isn't going to grow anyway.
I have been following this thread with interest. I was surplussed this year from t with over 20 years service. I landed with one of t’s competitors. They match 401k up to 6% at 100% and its in cash not stock. You have to stay for 3 years to be vested, which is not bad. they also give you restricted stock and also a bump in your 401k depending on earnings. I am glad I am there. I still appreciate my time at t, sad that so many good people are struggling there wondering if they will have a job in 6 months. DId t send a news now about the 401k change or are people just speculating?
"Did you not understand the math if you're currently eligible for the 80% match? I showed my work.
It's not difficult... "
Was just asking ... relax Francis ... it equals $180.00 a year more total for wage group one craft ... woo-hoo ... thus basically no gain $180 / 26 checks = $6.92 a pay period ... where will I spend it all lol !!!
Many hospitals have eliminated their matching programs this year...
Unless of course you're one of the pensionless 100% match for 6% income folk.. This really s—s.
"50% matching up to 10% means you will have a total contribution from AT&T of 5%. Or half of your 10% contribution. "
Correct... which, if you contribute 10%, is MORE match than 80% of 6%.
Are you one of those people that thinks a 1/4 pound burger is bigger than a 1/3, because 4 is more than 3? Or... a pizza cut in 12 pieces is more than the same pizza cut in 8 slices?
"To the person saying it is a better deal ... are you sure about your calculations?"
Did you not understand the math if you're currently eligible for the 80% match? I showed my work.
It's not difficult...
50% matching up to 10% means you will have a total contribution from AT&T of 5%. Or half of your 10% contribution.
Are we talking for managers or who? .... To the person saying it is a better deal ... are you sure about your calculations? Doesn't seem like it will go up.
Highly doubt they will k–l the matching program. One reason companies do this is to encourage people to invest in the companies 401k. Why? If the % of employees falls below a specific number, it limits what highly compensated employees at that company can save with THEIR 401k. So they have a self interest for you to use the companies 401k.
"It won’t be eliminated just set to 50% match of up to 10% income rather than the current 80% (100% for newer employees with no pension) of up to 6% income. "
If this is true, those of us contributing 10% or more will actually get more matching money.
Check for yourself... if 1% of pay = $10:
$10 x 6 x .8 = $48
$10 x 10 x .5 = $50
I actually LIKE that!
It won’t be eliminated just set to 50% match of up to 10% income rather than the current 80% (100% for newer employees with no pension) of up to 6% income.
a move like this shouldn't surprise anyone
I have tens of thousands of stock options in the high $30s to almost $60. Can anyone tell me what to
do with these?
Wait, a. they are expired and
- the strike price is more than double the current market price.
Think I roll them up for usage in my watercloset. Never mind.
I think it is an unconfirmed rumor not anything confirmed