Thread regarding AT&T layoffs

Pension Plan Annuity Buyout (Athene) – Follow Up

Hello Folks,

From my Earlier post on Monday (07-10-25), I wanted to share a follow up.

For those of you who are impacted by the Transfer of Pension Management to Athene (From AT&T). I had stated that the "Welcome Kit" being sent out via US Mail would be sent out Monday Night (07-10-23).

Received my “Welcome Kit Letter” from Athene today on Saturday (07-15-23).

Has all you need to know to verify you Pension Annuity and how to establish Login access to the Athene Portal. From there you can verify and/or update your deposit information and Tax withholdings (Just as you where able to with Fidelity).

I was able to do so with no issues.

Also, Fidelity informed me from a phone conversation that my first Athene Annuity Payment will be 09-01-23 (August Payment). Payments are done in the arrears.

One more Payment will be (08-01-23) from Fidelity and is supposed to be the last from Fidelity.

This may not be directly related to AT&T Layoff information but is related to those of you who may end up leaving with a decision to be made about your Pension.

I can only I assume yours is still being administered via Fidelity as part of the AT&T Pension plan, subject to change in the future for those who choose the annuity option.

Thank You, and again Good Luck.

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Post ID: @OP+1nC2rORF

8 replies (most recent on top)

My question is how did our US Government allow the off-loading of pension obligations to largely unregulated and totally uninsured off-shore entities such as Athene.

https://www.nbcnews.com/business/personal-finance/insurance-companies-take-over-pension-plans-are-your-payments-risk-n1229226

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Post ID: @Mhvy+1nC2rORF

retirees, please get off this site, take your pension concerns elsewhere, start your own site - this site is for LAYOFF concerns.

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Post ID: @2kqe+1nC2rORF

Thanks for the update. My letter from Athene not yet in sight.

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Post ID: @1jvd+1nC2rORF

Something big to think about: Pensions that are transferred to private insurance (like Athene) are no longer backed by the Pension Benefit Guaranty Corporation (PBGC). Read this article for more info:

https://www.theretirementgroup.com/blog/atts-retiree-pension-payments-taken-over-by-athene

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Post ID: @krb+1nC2rORF

@OP, thanks for this info.

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Post ID: @luu+1nC2rORF

Here is the link for that post from Monday: @OP+1nxVJaxU

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Post ID: @jig+1nC2rORF

OP Response:

Sorry for the confusion, the original post was getting OLD and down the line of current posts.

But if you have the Original Post Book Marked, I understand the issue.

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Post ID: @iur+1nC2rORF

Please don’t create separate threads for this same issue. Just update the previous post when there are updates related to the same topic.

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Post ID: @yks+1nC2rORF

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