Happy to be leaving EOY. Worked 38 years, most with the exception of the past ten years, have been good. I realize how fortunate I am to have a pension when I leave. I just can't imagine working 30 plus years and not having a pension. All you receive for your time and effort is a stinking gold watch. You can't really count on a 401K, given the fact that many companies are cutting or eliminating the company match. It will be interesting to see how many of the future retirees will live out their retirement years.
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Started in ‘77 retired last year with 43 1/2 years service…..with ATT as craft IBEW 21. Can’t tell you why it was so high ….but it was almost 800K.
@3iej+1d7qCUsm
I have been wondering the same thing about these pension amounts. I wish mine were that high!
I have seen several posted in this forum, and I have talked with a few people I know about their own pension amounts, and they are all over the place. Some are very high, but there are so many different pension plans. It depends where and when you started, did you leave and get rehired, transfer between union and management, etc.
From what I have gathered so far, it seems that those who got into Legacy-T management pension plan in the early 1990s or before have very large amounts. 1980s or earlier are even larger.
@1rjw+1d7qCUsm How on earth is your lump sum so high??? I have 38 years and i've been a technician (CommTech) nearly the entire time and mine is 1/2 that!? I'm 58 in Nov. Lucky for you, just wondering why mine is so much less. I'm Legacy T.
@1rjw+1d7qCUsm How on earth is your lump sum so high??? I have 38 years and i've been a technician (CommTech) nearly the entire time and mine is 1/2 that!? I'm 58 in Nov. Lucky for you, just wondering why mine is so much less. I'm Legacy T.
Retired last year took lump sum 800k went to Vegas and doubled down. Left with $20m and new wife. I call her Candi
Legacy T management with 35 years - leaving EOY with $600K lump and $1.5mill 401K and my medical subsidy (knowing full well it can be pulled at anytime)
Have enjoyed most of my career here, with the exception of the past 5 years or so. Also feel blessed and grateful for what I have.
Good luck to all...
Pension value differs greatly depending on which Legacy group you're with and how the cash balance is calculated. I am management 27 years service....cash balance of mine is just over 200K. And I'm not complaining, as I am well aware those that came after me didn't get one. But that balance does pale in comparison to my 401K.
Craft, retired last year. Almost 800K lump.
If I retire before 12/31/21 my lump would be $670K hired in 1989 District 4 craft.
#Grateful!
How much are these lump sums?
500k? More?
Taking the lump sum this week. I made 37 years and will always be grateful to AT&T for this sum despite being sold to a different company like office furniture. I am pre-divest and saw some crazy decisions over the years but I am super glad I worked there. Retirement ready soon!
At this point we are more likely to get single payer retirement than single payer Healthcare. Check out Universal Basic Income for more details. It would insulate us against layoffs and surpluses.
How much is your pension worth? Just curious for those of us who will never have one. Hard to believe its worth more than your 401k.
Interesting point on pensions - the past few decades have shifted the norm of employer-provided pensions to investment products like 401k and IRA. Think about the billions of dollars that regular people invest into - buying more and more shares, especially in the pre-selected “at&t shares fund”
Company gets more people buying its stock and institutional investors keep making billions. There’s no pension, handshake, and gold watch at retirement anymore, we’re all just pawns in the system.
Interesting point on pensions - the past few decades have shifted the norm of employer-provided pensions to investment products like 401k and IRA. Think about the billions of dollars that regular people invest into - buying more and more shares, especially in the pre-selected “at&t shares fund”
Company gets more people buying its stock and institutional investors keep making billions. There’s no pension, handshake, and gold watch at retirement anymore, we’re all just pawns in the system.
Learn to be self sufficient, goober! Max out 401K, have nice set of mutual funds, live below your means, and avoid/eliminate debt. Get 'r done, goob!