Thread regarding AT&T layoffs

Should I stay or should I go!

Probably leave at the end of the year. For the first time hoping I get surplussed due to the benefit cuts, mostly pension even if I take lump Doewould still get hit by losing about $150k if I stay due to interest hikes I guess (according to the pension estimator). So, even if I gamble and stayed whats to say I don't get axed next year lose my benefits and my pension is devalued. I don't want to go but the AT&T's evil board's plan is working?

Side note for the medical supplement for retirees, I have Kaiser in Northern California. AT&T HR told AT&T's pays $749 and my portion would be $249.78 per month. Is this and the loss of pension enough to leave??? I will call back and ask again and see if the numbers match. Still pondering but leaning that way...I work on Cisco and Juniper routers and switches I don't think it will be hard to find a job just don't know if I will take a pay cut (probably) have 25 years of service in....................probably start looking for a job soon just to see how the job market is??? There's a lot of jobs in my area posted but how hard it is to close the deal???? I don't know!!! Financial advisor says I should work another nine years. I'm 57!!! Still feel blessed to have worked at AT&T but sorry it has come to this!

by
| 2680 views | | 12 replies (last ) | Reply
Post ID: @OP+1a4GzNpN

12 replies (most recent on top)

The segments remain the same for 2021 they are the rates published in Nov from the prior year so those numbers are good all year then the Nov 2021 segments will be used for 2022

by
| | Reply
Post ID: @6mgh+1a4GzNpN

Don’t ask people on this forum questions regarding life choices only you can address; they know less than you know. Good luck.

by
| | Reply
Post ID: @3nmx+1a4GzNpN

@1bin
What are the new segment rates please?

@2tce mentions the segment rates in effect for most of 2021.

by
| | Reply
Post ID: @2pqo+1a4GzNpN

1st segment 0.53 second 2.31 third 3.09

That is what is used for 2021 it is at historic lows really can not go much lower

by
| | Reply
Post ID: @2tce+1a4GzNpN

Go, don't hesitate further and don't look back. Leave this nightmare behind

by
| | Reply
Post ID: @2zjl+1a4GzNpN

The segment rates have gone up a little since November but I can’t possibly imagine your lump sum decreasing by $150,000.00

by
| | Reply
Post ID: @1bin+1a4GzNpN

This will tell you everything you need to know.
https://www.youtube.com/watch?v=aJnceNaPWK4

by
| | Reply
Post ID: @1txr+1a4GzNpN

Unless you are planning to withdraw a lump sum, the pension is not devalued by interest rate increases. The defined benefit (monthly amount you receive monthly) does not chnage.

A lower interest rate requires the pension plan to keep more assets on hand to continue to pay out the same amount to retirees.

by
| | Reply
Post ID: @1pxu+1a4GzNpN

Go

by
| | Reply
Post ID: @1net+1a4GzNpN

Run don’t walk. I retired at 57 and still have more net worth than when I left .

by
| | Reply
Post ID: @hhi+1a4GzNpN

@OP

Do you know the new Segment 1, Segment 2 and Segment 3 factors to use for pension lump sum calculation?

Thanks.

by
| | Reply
Post ID: @bmc+1a4GzNpN

@OP based on the information you shared you got the email regarding AYCO financial services that is available to those having to make these decisions. I would recommend making an appointment with an AYCO financial analyst, in the email they are referred to as coaches. The financial analyst will provide you a comprehensive report to age 96, identify the total cost of your retirement including taxes, social security, indexed for inflation and use a conservative market return of 4.5% during your retirement years. I highly recommend this free service and I think it's much better than what Fidelity offers. Be prepared before your appointment with your expected living expenses in retirement and any outside accounts like ROTHs. These appointments are not rushed or half-baked.

by
| | Reply
Post ID: @wil+1a4GzNpN

Post a reply

: