If you are 50 or older plus have 25 or more years of service you are eligible for MR75. If you then decide to stay with the company after 1-1-21 you will lose that benefit. Then if sometime in 2021 you get laid off, you are without a job with no income and with no health care.
Is that correct? Is this possible?
As an AT&T Management employee, you must have been on payroll prior to 1996 to get subsidized Health Insurance when you retire. After that, expect to pay roughly $1800.00 a month for you and your spouse.
I love the “ Let’s be clear” and then they butcher MR75.
Read the CWA paper to see how they are courting other industries? Mostly what i see is "we're having a strike for BLM" or "lets fight for social justice" or " vote for this Democrat because we say so and our leaders can get to hob-nob with them and feel important", nothing about what we've given away or how we are fighting to help our membership...mostly just one sided political B.S. If the union dies, it is it's own d**m fault. Focus on OUR working conditions and what we have given up and never will get back rather than "social justice" and whatever flavor of the month political issue they decide to stir up to keep the focus off the fact that they are pretty much bedmates with the company nowadays. And if you believe helping ANY politician, D or R, get elected is going to do one thing for any rank and file member Ive got a bea-ti-ful piece of ocean front property in AZ that i would love to sell you for your retirement....just "trust me"......
@1sx1: taking the monthly annuity over the lump sum is not necessarily true There are many variables involved such as age, years of service etc... if someone is eligible for a $500,000.00 lump sum and the monthly annuity with a 50-75% survivorship drags your monthly annuity down $4-500 to around $3000.00 a month before taxes and after factoring in inflation makes it far less appealing.
We have as many HR plans as we have phone plans
All I can suggest is meeting MR75 does not guarantee subsidized benefits. You also need to have been hired before Jan 1995 to qualify for subsidized medical.
Lump-sum is not going away—it benefits AT&T by removing pension liability from its balance sheet.
Most employees are better off taking the pension as a monthly annuity—do the math—the lump sum is significantly less than what you stand to receive with the monthly annuity, unless you have a medical condition and you don’t expect to live long.
Me too re: Ameritech 1999 hire. & I have the orientation documents that outline the deleted benefits.
All of you thinking you quality. I suggest you call benefits. I was hired into Ameritech and found out if hire after Aug 1st 1997 there is NO subsidized Med/Dent when you hit MR75. Not sure if this is different depending on the company hired into but best to check. You may think you qualify but Benefits people need to give you the answer.
Call HR to find out what's up for your specifically, the main deciding factors if you are eligible for the HRA benefits is your NCS date, what company you were hired through, and whether or not hired as bargained or non-bargained. These variables are hair splitting and not a one date size fits all.
FYI - Just called HR, 877-722-020, and gave my NCS date, (after that date of 8/97 others are misinforming about), the company I came in, hired as a Manager, and I AM ELIGIBLE FOR THE MEDICARE HRA (Healthcare Reimbursement Arrangement) benefit, IF I'm off the books by or before 12/31/2020. It is funded till 2023, and no one knows if it'll get more funding down the road yet.
Before calling, I dredged the unintuitive, poorly laid out, and impossible to find anything HR Website, found something close, but could not find anything definitive, so I called HR and spoke with Shaniqua, who looked up me by taking a few data points from me, quickly informed me of the above details. I then asked to be guided to where this is on the Website, after being put on hold several times, she dropped my call. Even the support people can't properly cite the correct SPD.
I hope if you are surplus, that the documentation you receive for the exist process, clearly outlines that you are eligible (if you really are), and the documented details thereof, and then have links to go get signed up for verification and qualification for this HRA benefit, so you do not miss out. It may seem like a small thing, but it is not, every little bit helps, even if it runs out in 2023, why would you leave any money on the table?
The modified rule of 75 was “modified” that you must have at least 20 years of service to qualify. 60+15 years will not qualify you for insurance.
The company is not going to pay 1800.00 a month insurance for somebody who worked for 15 years and the 65+ 10 years make no sense cause you are Medicare eligible the day you leave.
Just got off the phone with HR. If I retire in 2020 MR75 qualified I will continue to pay 337.00 a month for family health care till I reach 65 y.o. And at age 65 I will transition to Medicare. With a 2700.00 allowance towards a Medicare supplement policy of my choice. If I wait till 2021 I will no longer be eligible for the 2700.00.
All of this is happening because of low union participation. All of our benefits will be slowly lost if we don’t pay our due. The CWA has slowly drifted away from communications workers and are now focused on other industries. They’re going to be fine without our dues and they are not going to beg to represent you. Read the CWA paper the next time you get it or go to the site and see how much effort is being spent courting other industries. Your only hurting yourself.
So I'm getting a monthly pension payout. Does AT&T want to buy that back? Is anyone getting offers?
There was an email sent out several months ago explaining how anyone who qualifies for this subsidy will no longer receive it if retiring on or after Jan. 1st, 2021
1pni: what are your sources about the lump sum Possibly gong away in 2021?
You are confusing 2 issues: MR75 and the $2700 payout to help with medical. In 2021 there is no $2700 for retirees. Those getting it now, I’m not sure. You have medical benefits when you retire as long as you were hired prior to your region eliminating them 97-98 for most.
The U.S. Treasury department’s move last month to allow private companies to pay lump-sum pension payments to retirees and beneficiaries, instead of monthly payments, is good news for companies that do not want to be saddled with long-term pension obligations ...
https://knowledge.wharton.upenn.edu/article/lump-sum-pension-payments/
The Medicare supplement only applies when you’re on Medicare, age 65+ and it’s max’d At $2700 per year. So if you spend $2700 out of pocket on pr-scrip-ions or copays, etc, you can save all those $5 receipts and send them in for your supplement. They are taking that away, but it would not have kicked in till age 65 anyway.
Medicare Supplement was taken away this year folks...Did you not get the update??
These are the MR75 rule and ages:
If you are pre-Medicare age: Under 65
AT&T employees who satisfy the Modified Rule of 75 may be eligible for retiree medical, dental, vision and life insurance benefits. If hired in the late 90's (pre 97 usually) your retirement may be subsidized until you reach Medicare age. If you do not qualify for subsides, you can retain your current medical plan and pay 100% of its cost until Medicare age.
If you are Medicare-eligible age: 65+
Once you turn age 65 you are Medicare-eligible and must transition out of AT&T’s retiree health care plans (subsidized and non-subsidized retirees) and into Medicare.
Supplemental coverage
At age 65, retirees will receive information from Aon Hewitt, AT&T’s health care benefits service provider for Medicare-eligible retirees. Through Aon, you will select a plan that provides supplemental insurance to fill in gaps in your Medicare coverage. Subsidized retirees will pay a different rate than non-subsidized for Aon plans.
Health care costs
AT&T currently subsidizes eligible retirees with a portion of the costs you incur through a savings account. Example...in 2016, AT&T eligible retirees received $2,700 per year in their account while their eligible spouses receive $1,500 per year in a separate account. You may use these dollars against monthly premiums, deductibles, co-pays, co-insurance and even Medicare Part B premiums.
Remember....All plans are subject to changes at anytime
Let’s be perfectly straight on the MR75 rule,. The rule is 50 years old and 25 plus years of service, 55 years old and 20 plus years of service, 65 years old and 10 Plus years of service. There is no 60 years old 15 plus years of service. The HRA MEDICARE BENEFIT IS FOR MANAGEMENT EMPLOYEES hired BEFORE 08/1997. Rumors are that the lump sum pension option is going away in 2021. By the way Randy does not need to qualify for any rules! He gets his $250k+a month for life following a banner career driving a great company into near bankruptcy!
Is the MR75 rule different in the various subsidiaries? In the old SWBT for mgmt employees you for sure do not get any subsidized medical coverage when you retire if hired after 08/97. They used to make you sign something when you transferred from bargained for to management.
@wy, hired 5/1'98, met MR75 2+ years ago, 57+, and can retire on or before 12/31/20, and qualify for the Medicare Subsidy, till 65, and/or, until 2023, when the current subsidy will need to be re-funded, or dropped by AT&T. I think your dates may be off, but yes, in two years you reach MR75 and retire, you're toast on this small incentive that appears like a hand out to those already MR75 today.
The MR75 rule starts at age 55, not 50.
55 + 20 years = 75
Two years from now there will be mgmt folks that are MR75 and dont get company subsidized health care if they retire (hired or transferred to management after 08/1997). If the company thinks they have a hard time getting folks that are retirement eligible to leave now just wait until there are employees who truly have to work until 65 because no healthcare otherwise.
For what it is worth, I am currently retired at 61 drawing company medical coverage. As a current retiree, I am not aware of this supplemental benefit going away for me once I am Medicare eligible.
I believe this issue only applies to those who are still on the payroll 01-01-21, correct?
This is not the case. Managers who qualify for healthcare after retirement keep it until they turn 65. At 65 the company covers only a Medicare supplement as you will be on Medicare. If you retire after 12/31/20 you will not get the supplement at 65. There is no guarantee that the company will continue employee or retiree insurance unless they are required to do so. Either could be discontinued at anytime. This means if you are not already nearing 65 this change means nothing.
Depends...union or management.
Yes, and anything is possible to screw up bad enough to be homeless, AT&T can help you with that
Actually after 12-31-20 but yes correct.