Current Money Market alone paying 5%
GET YOUR PENSION OUT OF ATT AND STANKEYS GRASP. Just do it. Hopefully over the years most of you have transferred the company match in ATT stock to just about anything else. ATT can't manageoney or cash flow. They burn cash like an incinerator.
15 replies (most recent on top)
Put it all on black. Let it ride baby.
If you retire you should roll the pension over into a IRA. Better investment vehicles to buy into.
If you're still working you can roll the portion you payed into a IRA only.
I did in Jan-feb. invested 33% in Nvidia and ASML. And the rest ... Paul Harvey?
get out---you are in a swamp of has-beens
When interest rates rise, AT&T pension lump sum payouts fall. When interest rates fall, AT&T pension payouts rise.
There's like 4-5 active Pension / Fidelity threads today. What gives?
OP is correct. I retired end of 2022. Rolled pension over to cash in Fidelity. The interest rate went from 3% to 4.99% (SPAXX currently). I just keep buying T-Bills that are paying 5.3% for a 28 days hold. The money I take out to live is replenished by the high yield and the T-Bill returns. I know it won't last forever but as long as the Fed doesn't cut rates I will continue on this path.
AT&T is required to fund the pension, that’s it.
until you find out they don't.
Roll it into Bitcoins or some cryptocurrency. Guaranteed to make you rich.
I don't want Stankey to use my money and then pay it back whenever he feels like it. He may even cook the books and do something fishy with my money before I get it. I don't trust the man.
"I thought you had to be off payroll to do that."
There are many different kinds of pensions that AT&T has. It's best to consult the SPD document (Summary Plan Description) to see what the pension activation rules are. The one that I had, Management Cash Balance Program, requires that you terminate from the company prior to activating your benefits.
There are also IRS related age rules that you need to be aware of. If roll the pension into a qualified retirement plan, such as an IRA, you will not be taxed on the pension benefit. However, you cannot take a distribution prior to the age of 59.5 if you do so, without a 10% tax penalty. If you don't roll it over, you can take a distribution at age 55 but you will have to pay income tax on it. I personally rolled mine over to an IRA when I left the company. I didn't trust leaving it in the pension plan.
Fidelity is managing the money, not AT&T. AT&T is required to fund the pension, that’s it.
I thought you had to be off payroll to do that.
100%, get your money out
Stankey looks at your Pension like chips at a poker game and he is a terrible player and drunk. If he can squeeze money out of the Pension Plan at your expense he will.
Yeah, but depending on which Plan you are on, Toxic-T put in so many stink'in rules it makes getting YOUR $ out of the Stink's grubby crooked hands difficult and complex. Once you retire the rules are simpler. But these Stinkin' rules are another good reason to GTFO asap!
Remember: Never trust the Stink! Do NOT accept a Toxic-T annuity pension if you qualify for one. Take your cash balance and run! (from the Stink)