Could this be in our future? Most take the lump sum when the leave if their plan allows that option?
11 replies (most recent on top)
@2gpt, we’re all going to give you a ‘Mulligan’ on that one! Care to take another shot?
When I retired I took the lump sum.
It will be a couple of hundred million when i start withdrawing from it in about 30 years.
I’d suggest you do the same.
Take a look at this link and read carefully.
https://www.genewsroom.com/press-releases/ge-announces-us-pension-plan-actions
In particular,
- U.S. GE Pension Plan & Supplementary Pension Freeze:
GE will freeze the U.S. GE Pension Plan for approximately 20,000 employees with salaried benefits, and U.S. Supplementary Pension benefits for approximately 700 employees who became executives before 2011, effective January 1, 2021. There is no change for GE retirees already collecting pension benefits or employees with production benefits. GE will record a non-cash, pre-tax curtailment charge in the fourth quarter of 2019. GE’s pension plan has been closed to new entrants since January 1, 2012.
@11poblW1-hfy There is more to providing great service than just throwing money at expanding the network.
"Providing great service involves investment which doesn’t look like to me at least something att wants to do now or in the future".
I'm no fanboy, but the company has in the past and continues to invest a great deal in the wireless network...through the FirstNet and 5G buildouts, carrier additions, and an unprecedented new site build plan slated for next year. I am not making this up, it's fact. So your statement is incorrect,
GE... that’s all I needed to see. I’m not on a GE board.
https://www.cbsnews.com/news/ge-pension-freeze-general-electric-freezes-pension-plan-for-20000-u-s-employees/
"General Electric is freezing the pensions of 20,000 U.S. salaried workers to reduce billions in future pension obligations and trim debt"
"The company said the change won't impact already retired GE workers"
Read the article. AT&T did this years ago,except it still contributes to current participants, however they are offering lumps sum buyouts, no longer new employees get it, and 401 match is increased.
Yeah could be in the future if the current management stays in place. Losing mobile customers could happen faster than most folks realize. They are mobile after all and a lot more people are getting smart and buying their phone directly through the manufacturer since most of them are providing financing and they chose the carrier that provides the best service. Providing great service involves investment which doesn’t look like to me at least something att wants to do now or in the future.
Anything is possible in the future.
“We need to reduce debt.”
Before you scare everyone go out and reread the GE story.