Thread regarding AT&T layoffs

So even Legacy T has different Pension Plans, call Fidelity to be sure! Example, Legacy SBC (lumped to Legacy T) can commence benefits the day after retirement or else what till 1st of next month (e.g. retire 12/30 and collect payment/lump sum 12/31).

Thank for the info. anyone had similar scenario with leftover vacation? Do I need to take all my vacations before I retire? I'm legacy T, I will call Fidelity and plan to retire 11/30 for last day of work (this leaves enough time for me to transition my work to my teams so I planned on working through) but I still have 80 hrs of vacation left...will this push my retirement to 12/15, meaning I can't get 2022 rates? I mean, I want to take the 80 vacation hours as cash if given the option.

Please check your specific pension terms by calling Fidelity....there are many different pension systems within the company. I left in Nov. 2021 as a Management Legacy T employee. Lump sum is paid out only on the first of each month, so in order to get the 2021 Nov rates I had to commence my pension on 12/1 and be off payroll by 11/30. If I retired in December, the soonest I could commence my pension would have been 1/1/22 which means I wouldn't have gotten the Nov 2021 rates.

Moral of the story....call Fidelity to see what YOUR pension terms are.

If you think you want to retire with the current rates, call Fidelity NOW to confirm when you need to start the process. Sooner is much better than later. My last day on payroll was 12/2/2021 (by leaving in December, I “earned” December vacation and was paid for those days). I called Fidelity 9/12 and had everything set up with a last day on payroll of 12/2. I received my lump sum check before 12/24.

November rates will not be posted until the end of December and if you’re craft Legacy T and wait that long you will miss the 2022 rates. You must retire by 11/30 from what I’m hearing the dates are different for management. Call Fidelity for verification!

conflicting info, retire before 11/30 or 12/31 for 2021 interest rates?

Rates are posted in November but effective 1/1. Retire before 12/31 for lump or stick around if you want a monthly payment. As interest rates rise so does that payment. The interest rates will continue to rise over the next year.

If you push Fidelity, they will mail your check Next Day with USPS. You have to pay the $20 or $25 for the service, but I thought it was worth it since it was a large check.

You must be off payroll by 11/30 for 21 interest rates.

Craft here.
They snail mailed me a check for high 6 figures as my pension payment.
Not registered, not certified. Not Direct Deposit.
USPS. I thought it might be a pay stub or something.
Nope.

Makes sure you know which specific SPD applies to you and don't make assumptions. Not all pension lumps are adversely impacted by rising interest rates (Mobility management for instance).