#pension

Question for the Orange book wireless techs if there are any on here.

If they offer VTP, does one keep their pension?

Thanks

First thank you to this community for all the early info & giving me the confidence that I wasn’t alone in feeling this way.

9 year g-n who interned and hired on. The company has changed and I’ve finally had enough.

Couple questions for this board:

• what vacation is payed out? Should I take all my comp & carryover?
• is there a practical way to negotiate the annual compensation value of the pension with new company? Pension tool not helpful
• print out any important health documents
  Any other tips?

Also, for those wanting to leave… yes it’s not the post covid market, but there are companies looking for talented employees. If you are here you are talented and will be valued elsewhere.

ANI here and just noticed roughly three months' pension contributions paid in at once. I've been here for years so my notice period would be three months.

No meeting with HR yet, but I won't be surprised if it pops up in the next few days.

Not looking good, is it?

I have been with the company since some time where I qualified for pension. Naturally T just contributed bare minimum to it since the last 10 years. I was also a high performer through out and naturally salary went up. Now with all this surplus stuff I got a target on my back for not being in hub, working hard and delivering here. Should I have just slacked and did the bare minimum? I never understood why I am being surplussed except not being in hub

https://www.reuters.com/legal/litigation/att-reaches-1841-million-settlement-with-employees-over-pension-plan-2026-07-10/?fbclid=IwY2xjawTEKVJleHRuA2FlbQIxMQBzcnRjBmFwcF9pZBAyMjIwMzkxNzg4MjAwODkyAAEe9F2mbbtmPKo-nHk_FHETWoUk_r3TFizAIiLcr0T2o89aJ1TIuHWo21atRP8_aem_0MuIUwR05W493TizMA5zzg

"The mandates include about $30 billion in pension assets for Verizon and Lockheed Martin and $40 billion in Verizon defined-contribution retirement assets, which are typically 401(k)s, according to Goldman."

Comrades, I urge you to take the retirement buyout for all International employees. The UK Workplace Pension, French Plan épargne Retraite and the US 401 are fully funded but the International is not. This will be offered once before we freeze and cancel the International Plan. You have been forewarned. Offer expires in August.

Seriously? First they take the pension away now the biweekly deposits to make up for the pension is going away? Is the goal to make your employees as unhappy as possible?

AT&T is headed in the same direction; how long it will take no one can be sure. I really want to take the annuity. A monthly deposit is extremely comforting to me. Am I being foolish in thinking AT&T will honor this final commitment? What happened to MCI Worldcom's payouts?

Last year I was told the pension plan was underfunded by $1.5B. Will AT&T make an honorable effort to close that gap now that the employment is terminated for so many, or does the shortfall continue to be swept under the rug?

What I hate most about Bill Rogers retiring is he spent years running the company into the ground and due to HIS incompetence, caused mass layoffs of competent teammates, creating a cut-throat environment of incompetent leaders, forcing everyone to return to office, while he rides off into the sunset with his millions in pension and retirement. I hope everyone who suffered under his leadership experience recompense, and everyone who prospered under his leadership begin to reap the very he-l that they sowed.

Kelly King and Bumbling Bill made an agreement when Gargamel took over that he wouldn’t remove the pension for 10 years. Not sure if that was the day of the merger or the day Gargamel took over. But the pension will cease to exist in way less than 10 years.

I am 52 and want to take VRP but not eligible for it. Anyone knows if HR would bridge 3 years and give me the package? It would be hard to stay 3 more years. I will lose more than 50% of my pension if I leave before 55.

How long has it been taking people out there for Sunlife to transfer the index funds to your brokerage of choice? Also, for those taking a lump sum from the pension plan, how long before those funds hit a LIRA account once the forms are submitted?

Was laid off early May and given 3 weeks until 29 May to sign the settlement agreement

My package looks like this
3 weeks to review settlement agreement (no work to do and fully paid)
3 month notice period - Got lucky as this was changed during covid years when they got scared of people resigning with only a month notice
6 weeks tax free redundancy for six years service which was lousy
22 days holiday paid out which I had accrued
Pension and medical insurance paid for 3 months and 22 days

tried to fight for my bonus but got zero

Basically cost me 65 grand to make me redundant in the UK - I was on 140K salary as a senior consultant and I get to leave end of May as I am put on PILON

I start in a new job on 15 June so this is all fine for me and I am delighted

People who are laid off should be using these boards to share what they got so that others can do the same - The time is coming - The numbers are sh-t and they are in a hole with no way out

How many of you will stay (or leave) if the eliminated the pension plan?

The company is shrinking and is younger people need the roles to open up to survive. The pension doesn’t grow that much after 55 and certainly after 60 it really slows down. Do us a favor and help us get to 55.

Wow, I was surprised not to find any public forums regarding state farm employees to chit chat, but I wanted to post here and say my whole onboarding group going into 2019 from various sections in the company are no longer employed with state farm. I ignited an old group chat out of curiosity. 17 in total and the last person to leave was in early 2025. Most people were let go or left around 2022-23

I found this metric interesting and worth putting out there. We all got sold on how it was a life long career and investment into your education for financial and personal growth.

Didn't get much detail but it seems the majority were right to worked for various little reasons primarily with the legacy benefits package. (Pension)

Curious if any AT&T employees who are over 50 and qualify for a pension have been unexpectedly put on a “Development Plan”?

When will we learn what is happening to the pension after aero is separate?

General Motors announced a new round of layoffs. This adds to ongoing workforce reductions across the Big Three automakers. Richard W. Paul & Associates launched "Big Three Retiree." This free platform offers resources for Ford, GM, and Stellantis employees. It helps workers navigate pensions, buyouts, and retirement planning.

Detroit, MI

https://finance.yahoo.com/sectors/healthcare/articles/gm-announces-round-layoffs-michigan-183000073.html

I'm 50-something years old, 20-something years of Ford direct employment, falling under the GRP. Contributory to my pension since the first paycheck I could do so.

I'd go tomorrow if the rules let me retire early, but I'm not quite 55.

Any rumors of early retirement packages?

I hear that XOM doesn’t like to carry the liability on their books of your pension after you leave. So if you leave after 5, 10, 15, 20 years and don’t reach 55 they offer you lump sum for your pension payment.

Is this true? If so, what do those amounts look like?

After nine years with cvx, I am planning to move on. I just have a perhaps stupid question: since our pension is vested after 5 years of service, will we get all the lump sum number shown in total awards webpage if we choose to take it out? and if we choose to let company manage it, the number will continue to grow as we approach 65 right?

What happens to any supplemental pension or supplemental 401K savings if you are forced out at 52 and would have been NRE before (I know that is now removed). Would the company really just keep it and say tough luck?

After termination, how long does it usually take to receive communications about the pension and RRSP plans? I’ve been waiting for about 3 weeks now and wanted to follow up.

I called the Vz pension department a couple of months ago to inquire about who is custodian of the pension if I was to retire and take the annuity pension instead of the lump sum. I was put on a 5 minute hold. The rep told me pension obligation was sold off to Prudential in 2013 and 2023. It had to do with contractual obligations concerning Bell Atlantic and GTE. She further stated that there’s currently no plans to sell off more of it. Doesn’t mean it will never happen but for now going forward, if you retire , your pension is with Vz. If you’re bent on a monthly pension but don’t want to leave it with Vz take the lump and purchase a guaranteed life annuity. I’ve been quoted an almost identical monthly amount for a glf as if I had taken a 100% pop-up for my wife from Vz.

Bumping this from @gk+1kq2atb5s for info.

DW is laser focused on running the org to failure. So rather than fight him, let’s help him. Next time you see poor quality work or a way to help… don’t do it. Even though you may think you’re the better person… don’t do it. Nothing will change until a true failure. So while contrary, push the activity along to failure. There is no longer honor in preserving this legacy… if DW doesn’t see the risk of becoming a takeover when everything fails (see Macondo) then it’s not our job to convince him.
And if you think that you are saving your pension or any other financial security, don’t worry, there are already plans to ki-l those. At this point, we have nothing to lose.

I’ve heard different rumors, but can they actually take your pension(cash balance) away from you if you’re let go because they deem you did not go to the office? I know they can’t touch your 401K.

https://www.marketsgroup.org/news/verizon-to-move-pension-asset-management-to-goldman-sachs-ocio?fbclid=IwY2xjawRZliFleHRuA2FlbQIxMQBzcnRjBmFwcF9pZA80MDk5NjI2MjMwODU2MDkAAR6tW1eHusgv8sz-a_EIVp4-3Gr4_fpKJS5WnDXYY_YCVgII9d67nLy1BfY0TQ_aem_SCp5oOD-4eH3Wc8UasPgGw

Martha is playing with Medtronic’s core businesses that have paid the light bill for decades.

I believe he is turning MDT into a venture capital fund, selling off BUs because they don’t meet his +50% groth rate just to use the fresh capital for M&A of long shot small start ups that will require intense capital to get them off the ground.

Wouldn’t be surprised if he dipped into the pension fund.

I had a friend who passed away recently who was an exxon retiree. Their family lived into their nineties so he expected to live until at least 85. My friend retired at 61 with 40 years of service and chose the annuity. The annuity was huge and paid them nearly 50 percent of his yearly pay. The retiree expected to live at least 25 years and collect the pension but it was not the case. They only received 6 years pay from the annuity and had no relatives to leave as beneficiaries. If they would have taken the lump sum it could have been left to anyone as beneficiaries. Alight only allows spouses and children to be beneficiaries for the pension. He could have left the lump sum money to his nieces and nephews, friends or even a charity. He was in excellent health and would have lived to an old age but pancreatic cancer took him out. From the time of diagnosis to death was 5 months. Exxon and alight won. Don't make the same mistake as my old friend.

You are so easy to spot... 20+ years in. Has seen every reorg... Uses "back in the day" all the time.. Defend pensions. And institutional memory. Oh, yeah, let's attack consultants and outsiders... And... Always disgusted but not never ever surprised at all.

I was at Xerox for about 40 years as a worker bee (non-management). Retired in 2020 after waiting for a vrif or irif package that I was never eligible for ( for one reason or another). So I left on my own accord (at 62). Best thing I ever did. Even back then the writing was on the wall. Carl had already taken over the CEO and board and it was only a matter of time. I know I was lucky but also calculated health subsidies at a lower income and had a few $$ put away just in case. Yes, I was an oldtimer with a pension and 401k. But its been 6 years and i havent touched either. If your young get that resume updated (by a professional if necessary, they have contacts you dont). If your old enough, Don't wait for the package, you may wind up with nothing. Bankruptcy will likely effect any pension payouts. BTW, if your in the US the best investment is your HSA. No tax in or out and can invest it all. I lowered my 401k to max out HSA. Best retirement planning I did.

The posts are generally whining and moaning.
I thought I would provide info so folks can plan better.
Topic of this week is around NRE and pension.
You don’t lose your pension. You lose benefits, especially medical. You get your pension, you get vested after 5 years. So you will get your pension. However discounting is different between retiree and terminee. Suggest you run Alight calculator between age 55 and 54.5 and you will know the difference.

This week’s announcement has serious implications and indicates the company is moving towards elimination of the pension. You could have worked for decades and be days away from receiving your pension at 55 and lose it all under the new system. If you are staying for the pension and it is what is keeping you here I recommend you think hard and critically on what the chances are that you actually receive a pension. Clearly Darren wants it gone. Executives have their huge pile of RSUs and the pension means very little to them. They would like to eliminate the pension so the stock pops higher.

OLD SYSTEM
If are NRE and placed in NSI:

• you are put on a DPC. You cannot fail the DPC. Basically you couldn’t be fired for “low performance” if NRE

If you were not NRE and placed in NSI:

• if 3 times in last 5 years you have been NSI you were mandatory to be fired (PIL)
• else if you are NSI you could choose between PIP and PIL
• if you failed the PIP you were fired

NEW SYSTEM after 2026
NRE and DPC eliminated from policy. You can be fired for “low performance” even if you have worked successfully at the company for decades and are just a few months or days from reaching 55 when you would be eligible for retirement. You can lose it all.
If you are placed in NSI:

• if 2 times in last 5 years you have been NSI you are mandatory to be fired (PIL)
• else you can choose between PIP and PIL
• if you fail the PIP you are fired

NEW SYSTEM IN 2026 ONLY
NRE and DPC eliminated from policy but if you are NRE and NSI then PIP will be offered and if you don’t pass you will be fired. You can also just take the PIL.
If you are placed in NSI:

• if NOT NRE, NSI at any time in last 4 years, and NSI in 2026 you are mandatory to be fired (PIL)
• else if NSI you can choose between PIP and PIL
• if you fail the PIP you are fired

Clearly the company will cancel the pension soon or fire you before age 55. They aren’t even trying to hide it anymore. It isn’t worth staying for. Do the math. Research what other options there are.

There has to be a scenario that would trigger the final elimination of the pension.

Any ideas of what conditions would cause the plan to be implemented?