I get it - Age and service must equal 75, and you must be a minimum of 50 years old.
I'll turn 53 in December 2023, and will have as of January 1, 2024, 24 years of service (NCDS is 6/14/1999).
I should meet MR75, right?
I don't want to move to Dallas.
I just want the cell phone discount and the option to buy insurance if I really, really, really need it.
23 replies (most recent on top)
Folks, he said he is Leg T and hence no benefit to MR75 for the poor guy except phone discount.
mr75 means nothing. trust me you want to get away as far as you can from dealing with att for any service. you will be much happier and have more money in your pocket.
Op: You do not meet the requirements for MR75 as their are 3 ages/years you must attain and is not calculated adding your age and service. At 53 with 24 years of service the "25 years: age 50" is your bracket so, until you reach 25 years you don't qualify
If you're from Leg T, then you probably do need someone to check your math. Good call.
sadly there are no real benefits to MR 75....you get a 30% telephone discount....big deal...you can go to Verizon, Tmobile, etc and save a lot of money even with the discount..
if you are 62 with 13 years you meet MR 75 requireemnt....speaking from experience...but again all it gets you is a 30% discount off the highest rates in the country...
There are mr75 mininimums
30 years of service: any age ;
25 years: age 50
20 years: age 55
10 years: age 65
Note there is no 15 years and age 60 milestone
For the Legacy T folks MR75 does not mean anything anymore. There is no jump in pension, no longer any retirement health benefits, life insurance or Medicare supplement etc..So why would you care about reaching MR75? For what a phone discount?
No. You have to have 50 and 25 at a minimum.
Wrong...
""Age and service must equal 75" There is a reason it is called the modified rules of 75".
You have to meet BOTH minimums in increments of "5". So if you're 51 with 24 years of service that will NOT qualify you for MR75 rule. If you're 51 with 25 years of service, then you will meet that requirement.
Simple.
1999 Ameritech here, lump sum calculation at Fidelity went up over 80% when I hit MR75 a few years back, sure it dropped 30% after the Nov 2022 IRS rates spiked up, hoping rates go back down next year for everyone still here, so I don’t know why folks say it doesn’t matter anymore
MR75 doesn't mean nothing - it just means a lot less. You have access to HC - just below gov prices. You can stick it to ATT and get a POTS line - CVOIP has no discount. Internet is cheaper but cell prices can be beat with other companies.
Just remember the multiple of 5 on age, if you're combined value is 75 on your 52nd birthday you aren't MR75 until 55. The number has to add up right at 50, 55, 60, etc. Call Fidelity because people here don't think MR75 means anything so you're not likely to get good advice.
To the OP, our circumstances are pretty similar, but I'm about a year ahead of you. If it were just over 50 and years of service + age equal to or greater than 75, I would have gotten out at end of 2021 with the all the goodness that entailed. Instead I had to hang on to hit age 55 or 25 years of service, but as of this month I hit 25 years and since I came in via Ameritech, my pension lump sum jumps meaningfully with crossing that MR75 line. Counting down those days to this point has kept me going through all this nonsense. I wish you luck getting across the finish line in June.
It’s modified because there are sub rules. You need to be 55 or have 25 years either one works. Staying until your 55 unlocks a big lump sum penalty but having 25 years you’ll get most of it.
"Age and service must equal 75" There is a reason it is called the modified rules of 75
Call fidelity. There are so many “gotchas” it’s insane! Don’t plan your life or what you will get based on what your manager or hr tells you.
WRONG
Prey tell how I'm wrong? I model it in the Fidelity Website from time to time.
Just because you don't get it, will never get it doesn't mean I wont.
Let me guess. You are of the "I don't have it so yours is no good" crowd. Sad.
WRONG
MR75 means nothing anymore. There is no need to calculate it.
MR75 means nothing for Non Bargained AKA "management".
Bargained "Union" employees enjoy a nice increase in the pension payout after MR75 is reached. Health insurance is a nice benefit as well.
I'm sorry if the non bargained "managers" are getting the Stankey treatment.
You will have to work till 1/1/25 to meet MR 75. There’s both an age and years of service minimum. You have to meet both minimums to qualify. With the removal of retiree medical, the biggest reason to stick it out is the ability to take the pension in a lump sum.
Age YOS
- 25
- 20
- 15
By all means do the research to verify as there are variables depending on your organization and job title. Per previous post, acaadvisor.com & HR ONESTOP is where to start.
You will meet it on 6/14/2024 when you reach 25 years of service. You need to be 50-54 years old and have 25 years of service for modified Rule of 75. If you're 55, you would only need 20 years of service.
it's easy enough to search on the web or on at&t HR site...
https://blog.acadviser.com/how-the-number-75-affects-your-att-retirement-benefits. There are 'hit points to reach. To be safe I would think to err on having full 25 yrs service.
I was 55 and had 32 yrs NCDS when I was surplus'd in the early 2019 wave. Honestly, the only value I saw with the MR75 was the Retiree Health Care. But if you didn't leave the company by the end of 2021, that no longer applies. There are other, cheaper options than the retiree wireless plan.
MR75 means nothing anymore. There is no need to calculate it.