Retirees to expect more reductions?

The real issue is that most retirees are being forced into a benefit reduction they had not planned for. It’s called takeaways, nobody that I know likes takeaways, especially since its due to mis-management of T. It’s called lack of financial disipline! If you like the takeaways you’ve seen up to now, just wait, I doubt the reductions are at an end.

I don’t like repeating someone’s words, but this is a real problem if T continues with reductions. Given our lousy management, I doubt that reductions are at an end.

Comment! It's anonymous!

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I took the offer in 2020 July and one of the main reasons was to keep my insurance supplemented by the company until I hit 65.
And a extra 125k to leave sealed the deal for me! Never been happier I don’t think about the company for one minute all the micromanaging and BS we had to put up with in the field. I just couldn’t deal with it anymore!

That's mainly because most workers in your age group don't want healthcare bennies.

some of us in 45-55 range already dont have healthcare benefits when we retire.

From their 10-K on Edgar:
During the fourth quarter of 2019, we committed to plan changes impacting the cost of postretirement health and welfare benefits, which were reflected in our results. Future retirees will not receive health retirement subsidies toward post-Medicare coverage but have access to a new cost-efficient comprehensive plan.

I'm thinking starting 2024, that's what we'll all get. I read that plan and it isn't a bad plan, but not worth giving up a $2400/year HRA reimbursement. Medicare part B will run $1800 alone.

Historically AT&T provides retirees benefits as a form of delayed compensation for the extraordinary efforts during their tenure. The company valued long term employees and it was uncommon for employees to look elsewhere for employment once you signed on. Regardless of what we are witnessing today, AT&T was a highly respected company envied by other corporations worldwide. I guess you could say AT&T was the "gold standard" when it came to valuing employees, in turn for rewarding career employees with second to none benefit packages which included retirees.

Why is the company paying retiree benefits anyway?

Long term this will tarnish the reputation of the company. I just need 3 more years of insurance, and I’ll let Medicare take its way. Not counting on anything from the company beyond that.

"The hourly beating will continue until.................................................
Hey. Here's an idea.
Everyone quit this Friday and don't return. That'll show 'em."

It seems like there's some kind of collective organization that people join that does something like that from time to time, or threatens to.

Seriously I would be surprised if the "management" ranks are not unionized within 5 years. Why wouldn't they be? Pay for performance is over. You're all the same now, just so many steamfitters or plumbers.

If you are 45-55 in this company and want to stay around for some years, you'd have to be crazy not to support a union. Would it change things? Maybe not but it'd drive the company nuts and put a wooden stake through the whole contingency thing.

I would give real consideration to the way he waffled when asked directly: if I leave this year in order to keep my pre-65 medical subsidy, can my subsidy subsequently be taken away anyway?

He practically guaranteed it.

If you're 50 or older and think you're going to keep the healthcare subsidy until you're 65 ....you're extremely gullible. Don't be Charlie Brown to their Lucy.

The hourly beating will continue until.................................................
Hey. Here's an idea.
Everyone quit this Friday and don't return. That'll show 'em.

On the Stankey call with Santone, he practically guaranteed it.

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Retirees to expect more reductions?

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