Help Me Understand: Why has the Stinky not yet totally ditched the pension like Verizon?

I have been googling how Verizon dumped their pension back in 2012 to Prudential. I was curious to see if any Verizon retirees taking the annuity were kept whole and if I am reading right they were.

So I am wondering why the megalomaniac Stinky has not jumped on the bandwagon and dumped the T management pension plans on some insurer. I cannot believe that the Ratberts in HR have not studied this! And then it struck me - perhaps the T-management pension is so underfunded that no insurer would take it without T dumping billions of $ that T does not have into it?

Please remember that back in 1996, T switched to cash balanced and changed the pension specifically to the pension funding retiree healthcare benefits rather than T's bottom line funding retiree health benefits. That cause me to have have to work an extra 10 years to get the same pension benefit as I would have gotten before the '96 change.

So since retiree healthcare is being paid out of the pension, why did Stinky discontinue retiree healthcare after this year? Could it be the T-management pension plan does not have the funds to continue paying them and that is why he cannot dump the pension to an insurance company?

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June segments are meaningless they use the November segments for your pension so the 2020 Nov segments are good till Dec 31st, 2021 the next day the 2021 November segments are used for the entire year

I’m well aware of that . Just giving a mid-year update and hoping the segment rates don’t f creep up too much higher until November. That being said the rates don’t fluctuate all that much month to month and hopefully won’t go up too much if at all for the rest of year

"June segment rates are in. My lump sum is down 25k YTD significant but not terrible by any stretch. Was down 40K in May not sure am see that as a reason for keeping people on the payroll "

Post from TheLayoff.com

"The pension is well funded and owns a good part of the wireless company. Remember slick Randal did that. Will be hard for an insurance company to buy. "

This is the reason. The pension is grossly underfunded because of undervalued assets that Ratty stuffed in the Pension fund. Look how well the Gooberment protected us. The Gooberment had the T filing for years and did nothing to Ratty. Ratty needs to go to jail.

So you best leave before the end of the year when the lump sum will go down because of the rising IRS Segment rates.

Funny how the Fed thinks there is only "transitory" inflation, but the IRS segment rates say otherwise!

Stankey isn't done yet. If it were up to him he would eliminate all pensions and cut pay by 3/4. He has no use or no excuse for rank and file. If he were on the front line in wartime, he would be eliminated by his own troops. Enough said.

It would be a mistake to expect Stankey to do the right thing on behalf of the employees.

June segment rates are in. My lump sum is down 25k YTD significant but not terrible by any stretch. Was down 40K in May not sure am see that as a reason for keeping people on the payroll

He wants to su---r people into staying till next year when the lump will decline then totally freeze. Saves money.

The pension is well funded and owns a good part of the wireless company. Remember slick Randal did that. Will be hard for an insurance company to buy.

Once he unwinds all of these companies the AT&T pension will be frozen. He can’t do it while unloading DTV and TW.

I suspect the only reason Stink hasn't totally fubar'd the pension is because he's been far too busy fubaring everything else. But the year isn't over, and that debt isn't getting any smaller ...

Why not do what Honda did? Roll over all pension eligible employees cash balance to 401K. This frees T of any further pension obligations

Stankey taking care of the workers. Way to go.

If I’m not mistaken I believe Prudential only owns the management pension fund. Verizon Still owns and is responsible for the craft pension fund

Verizon gave an outstanding buyout to its employees when getting ready to chop heads and go into 5G in 2018. Stinky needs to make an offer to clear as many as possible then let the folks who are staying pick their jobs

Key Points

The program offered eligible employees and managers up to 60 weeks of salary, bonus and benefits, depending on length of service.
The more than 10,000 employees who accepted the offer represents about 7 percent of Verizon’s global workforce.
Verizon first announced the restructuring earlier this fall as part of a larger effort to trim workforce ahead of a push into 5G network service.

I would prefer having the enhanced 401K program again rather than this defined benefit pension which is outdated.

Freeze it and offer me a lump I can direct roll into an IRA. I'm good. Do it.

I was reading this article, I wouldn't be surprised if Stankey ditched the pension soon... https://blog.techstaffer.com/will-att-freeze-its-pension

Ford is currently in talks with Fidelity to hand over thier pension. Don’t be surprised if T follows

All fees associated with the pension would be passed onto Fidelity who would pass them onto the pensioners
Fidelity would cancel the Lump Sum pay out as Lump Sums do not generate revenue like the annuity.
T would not longer have the expense of handling the Pensions ( T loves the Lump Sum as it is cheaper to manage)

They are required to Federal law to release a statement annually on the funding status of pension obligations....which they do.

And take the lump sum when it's available to you. Get that money to work for you elsewhere.

Thread regarding AT&T layoffs

Help Me Understand: Why has the Stinky not yet totally ditched the pension like Verizon?

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