I was searching about something I read, maybe a misunderstanding, at the time did not bookmark. Does anyone know of a change in lump sum payout after 2025? Possibly not offering lump sum pay out after 2025?
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Maybe still a lump sum option, like one post said about current retirees money being sent to the Bahamas, lawsuit in CA & Massachusetts over this due to its risky nature. I would rather take a lump sum than my money go where it can disappear. I have heard a Project 2025 for T that will bring several changes. I understand that current pension will stay the same, like transition from Bell to T, and start with a new pension plan, and new way it is figured.
Take the lump sum and invest in cryptocurrencies, Retire filthy rich.
Doubt they'd change it like that. They are more likely to force people to lump sum than to force people to the monthly payment. Mine offers either option and at a certain point, it also offers a split. I can take it all in a lump, or I can take a smaller lump and a smaller monthly payment, or a larger monthly payment.
I have not seen any information/documentation of this in the corporate website nor the fidelity website. I would suspect if this were to occur they would have to let us know with ample warning. When the gap medical coverage was taken away a few years ago, the company gave a full year warning. So if it were to happen at the end of 2025, look in January for announcements.
Funny, I just heard the same info yesterday!
They will just sell off the pensions to a 3th party like they did with 96,000 current retirees to Athene. Off the books and no more payments to the PBGC so your pensions are no longer protected. Why offer a lump sum when ATT can just sell them off. 236 Corporations sold their pensions off last year this is the new norm. There is a class action law suit against ATT for doing this, but they won’t win. Wave one of the pension sell out was last year, they will have wave 2 and so forth until all pensions are all off the books.
Who cares? Just take whatever they offer and run!
After the CWA takes their rightful share of your pension, you will receive around $75.00
You can't go by any generalized statements. There are simply too many pension plans for such generalizations. The best thing to do is consult the SPD (Summary Plan Description) to find out how YOUR pension plan operates. The management cash balance plan that I have, for example, is pretty agnostic to interest rates and there is no significant benefit to meeting MR75. But other plans operate quite differently.
With interest rates so high you’re lucky to get any lump these days.
I have not heard this. It sounds like somethjng the company would do to get rid of the older workers, but it actually benefits AT&T to get the pension payout off their books.