For Managers what’s the benefit of retirement versus just leaving
11 replies (most recent on top)
What @ekr said.
The product concessions are a joke. Matter of fact, I pay less now for more services than when I had active employee discounts.
You probably don't qualify for medical subsidy and I've never seen rave reviews for that, either.
If you can get the severance pay & the 18 months of medical insurance at cost, hold out for that unless a better gig presents itself in the meantime.
good luck!
For non bargained, you will not get any unemployment in TX if getting a severance check, until your "severance period" ends - ie after 6 months if paid 6 month's severance.
Either way you win! You get to leave the twilight zone of misfit management where up is down and down is up. You will no longer be mind scr$wed and just a liability number on a spreadsheet.
The first 15 years were great, stable, family oriented, employees empowered and management cared about the employees. Used to have cookouts, played on company ball teams, Thanksgiving and Christmas lunches, an employee appreciation day at various venues, awarded for good driving, safety, individual and team accomplishments, etc...
Since SBC/ATT purchased our company the last 7 years has been a fast ride downward spiral of a once great company that has become a toxic environment of micromanaging, favoritism based on nepotism and sycophants. The individual contributor is no longer valued but are just seen as a liability to be replaced by the next lowest paid global individual. Only the C-suite and investor class are valued.
: @ekr+15WjF2f1 - truth - not much reason to stay around. if your pension is built up to where you are happy with it then leave. I left it was bad and life is too short for att. it was a cesspool. I didn't get any subsidized medical benefits because they stop offering it before I started. so there really wasn't mush reason for me to stay other than the pension and if i stayed and retired there really wasn't much of an increase in my pension if I stayed till 65. I went by the tool fidelity had where you can estimate what you get if you retire at certain ages. but who knows it sounds like they played randy's creative financing with the pension so the estimators were probably wrong.
I just checked the Texas unemployment compensation site at www.twc.texas.gov and to collect unemployment benefits, you must register for work, search for suitable work and keep a record of your work search activities and submit a work search log, be physically and mentally able to work, and be available for work.
@nke, are you sure that's in Texas, the Texas State Employment Commission, now, toda, still requires submitting all that regular paperwork? I think it was to prove you're looking for at least 4 new jobs per week. I hear that today, or more in recent times, they dropped that. I'm in TX. And heard this from other TX people who had relatives having to apply.
Your ability to collect unemployment depends on the state you’re in. In Texas, to qualify for unemployment, you have to submit records, on an on-going basis, showing that you are actively looking for work.
If you are retiring when laid-off, it’s probably not worth jumping through those hoops, to collect unemployment, especially with so many people out of work and the state unemployment offices unable to handle the volume, i.e., it’s a huge hassle.
I took an MVO when I was 56. The positives: I was MR75, pay the same as employees for medical, dental, and vision. I was paid six months severance and my prorated bonus and pay for unused vacation (the difference). The negatives: either way you leave the increase in services purchased at retiree rates are not competitive with other carriers. That is about all.
Yes what the 1st reply said, but if you leave on your own, or take an MVO, you will not have the ability to apply for unemployment. You really want to become surplus this year. The best picture scenario is that you are Rule 75, and have the pension as well as the 401K/Roth. Then you can exist, with a severance, and be able to access your retirement funds, and apply for unemployment and get some med subz on medicare for till 2023. The only other two bonus to this, is not from AT&T, but you yourself, you're married and your spouse can also retire and has good nest eggs as well, plsu, you're both 100% debt free, as at this point, you should be. So that's our golden parachute best case, doesn't even make a scratch to what the company destroyer Randall Stephenson skips off with, damn crook.
And if you qualify for a pension, you may begin collecting your pension, when you retire.
The only real benefit is assuming one has reached MR 75 and qualifies for subsidized medial benefits (which many do not), where the company will continue to pay a portion of your medical insurance.
The other "benefits" are a joke. You can get wireless cheaper on the open market as well as TV.