If the management pension plan is outsourced to an insurance company there will be no lump sum payments!! With rising rates the purchase of annuities will become cheaper, also with the elimination of the lump sum provision will reduce the single premium payment that AT&T has to pay.
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Take half annuity and half lumps sum. Then you will get benefits of each.
Huh? New England Telephone is now Verizon/Consolidated.
Except for SNET, T hasn’t had a local services presence in New England.
This change was for only existing previous employee's already recieving monthly pension. It has not affect on future retiree's. It was mostly retiree's from New England Telephone.
The “Plan” can be amended at any time!
I got the letter back in March. Talking with my former coworkers I'm sure RTO would have eliminated me anyway. Luckily I am old enough for retirement and just received my check for 401K and pension. ATT is out of my life. Sincere best wishes to all who are still there.
You are worried about a lump sum option? I’d be more concerned about pension going insolvent! I’d be more concerned w/stinky taking the pension and using it to keep ATT from going brankrupt!
I thought the cash payout or lump sum was decided by the courts years ago in lieu of taking a pension.
Q&A for Legacy T AT&T Employees: Canceling Lump-Sum and Leaving only the Annuity?Wondering if they're going to cancel the lump sum option?
https://www.youtube.com/watch?v=-3IusCqTLwg
Source citation, or are you just making stuff up?