Thread regarding AT&T layoffs

Everything depends on your legacy company. It is clearly stated in the Company pension documents.

NO EXCEPTIONS....i know many people that were not just stuck in the middle...they were at the end being literally days away from making the MR75 before being layed off....the statement from all HR folks was "NO Exceptions"

over the years I've never seen any exception made. In fact, I know of a management employee that was surplussed 75 days before her 25th anniversary with the company (and hitting MR75). I'm sure there are many stories like this

"Has anyone tried to model their pension payout scenarios today to see if they changed only to get a message: yours is not currently available online?"

I was able to model my pension payout scenarios just now with no issues

Has anyone tried to model their pension payout scenarios today to see if they changed only to get a message: yours is not currently available online?

Go into fidelity and model your retirement for specific dates you think you can or would like to target and see what difference it makes so you always know where you are at. If you don’t know how to do that call them. Also you can go out and model your retirement on the benefits site to see how much insurance will cost. If you don’t know how to do that ask benefits. No one should be in fear of checking these things as you need to know what your future would look like if you leave the company at various timeframes.

Please confirm your specific personal situation regarding pensions, retiree benefits....basically anything financial. There are many different pensions, benefits, retirement savings plans based on your specific employment situation and job title, etc.

If you are making financial decisions based on the responses on this message board....well sheesh I don't know what to say!!!!

Good luck with that!!!

If you are old BellSouth PRA totally MR75 only means access to retiree medical, dental, vision on Life Insurance, and retiree discounts on services (which are nothing). I think employees hired after 2002 are not eligible. There is no big bump when you hit 30 years. It is a flat percentage times your wage plus interest.

Obviously many posters here have very low reading comprehension abilities. OP is asking about MR75. If you are craft ... your full retirement age is whatever it is. If you get laid off before MR75 you can draw your annuity at full retirement age. If you get your MR75 you can roll your current pension, which will have usually jumped a lot hitting the 75 combo, into your 401k or you can 72t it by rolling it into an IRA to take substantially equal payments for 5 years or 59 1/2 whichever is longer.

How can you all not know this??? Dang.

@2muf+19vdYo9H

Modified rule of 75
at least 10yrs and at least 65
at least 20 years and at least 55
at least 25 years and at least 50
at least 30 years and any age

It is the modified rule of 75 not the rule of 75 where age+service = 75or more.

Does 53 and 22 years really not qualify for MR75? Thats my situation and thought I’d be safer financially if I made it to that point. But the 75s around it count?

For some management folks, myself for instance, all of this MR75 stuff doesn't matter anymore. Not all pensions are calculated the same. I have no significant jump with MR 75, 30 years of service or any of that.

I'm not complaining, and good for those of you that will see those big jumps. Just wanted to point that out.

@1efi+19vdYo9H .... ok ... AT LEAST MR75 ... ok now?

I do KNOW this stuff ... I am on fidelity every week lol. My pension doesn't do squat from a LUMP point of view, only annuity, now until 30 years because of my age and years when I hit 30.

IF however I would have left a day before MR75 I would have been hammered. Not going to argue with you, some of us worked other jobs before here, not straight out of high school and 30 years.

OP is asking about MR75

"Some of the responses I see on these boards make no sense ... you would STILL want to reach MR75 even if your healthcare s—s, so that your pension is at it's fullest possible level.

If you leave a day before MR75 it's a huge difference.

I understand if you are newer and have maybe a 401k option only, but a lot of the posters are 20+ year people ... how can you not know this stuff?"

You are wrong. Your pension is not full at MR75. It happens at 30 years. My pension went up 6 figures the day of my 30th anniversary. Grows slowly after. How can you not know this stuff? MR75 is for health and a few other benis.

If you’re non-management, and within two years of your retirement eligibility, you may qualify for TLOA. Depends on how your job is being done away with.

Some of the responses I see on these boards make no sense ... you would STILL want to reach MR75 even if your healthcare s—s, so that your pension is at it's fullest possible level.

If you leave a day before MR75 it's a huge difference.

I understand if you are newer and have maybe a 401k option only, but a lot of the posters are 20+ year people ... how can you not know this stuff?

The brackets of age combined with service have ZERO exceptions. I have a coworker in the gap who asked HR, and got the too-bad so-sad answer. You must qualify for MR 75 by those specified combinations, or forgot50% severance if you meet it that way. But there is ZERO modification to the MR 75 for meeting it in the gap.

exceptions? HAHAHA!

I have a friend that was surplussed about 75 days before their 25th anniv (L3 mgr)

Rule of thumb. This company does absolutely nothing to benefit the employee.

OP - I have about as much service as you (a bit fewer years), and I have to ask what some have alluded to:

What do you actually want MR75 for? Do you qualify for retiree healthcare? I sure don't. If not, then MTP or any other scheme isn't going to get you very much. In particular, it will not affect your pension one bit - that's the biggest reason for people around your NCS to stick around.

So unless you're happy getting a few bucks knocked off mobile service (until they whack that "benefit" anyway) as your "benefit," then I wouldn't be too worried about it.

I am currently 55 with 20 years. How is the 75 rule affected if continue to acquire more time and age on the job?

You're supposed to work because you love your job, not for the pension.

• JS

MR75 will not exist in 5 years!!

No exceptions. Stanky said yesterday ‘we realize some people will miss the cut off by days but if we make exceptions, it will never end, and I know that’s difficult for some of you but too bad’

@mdt+19vdYo9H, MTP only gives retiree discounts, and it not worth the 50% severance pay.

If you are management and if you are in an impacted work group and laid off, then there should be an option under the Management Transition Plan (MTP) that would allow you to be grandfathered into the modified rule of 75 provided that you are:

1. Within 2 years of meeting eligibility of the modified rule of 75

AND

2. You agree to take a 50% reduction in your severance pay.

I assume this is still an option so familiarize yourself with the MTP plan.
Good luck.

You could use the Management Transition Plan but you have to get an offer to leave. That is if by the end of the year you are within 2 years of retirement.

I was also 53 with 22 years. Had to make 55 for MR75, not that I plan on leaving anytime soon.

It’s a new age at AT&T. No empathy. The sociopath on top is remaking the company in his image, and we are doomed.

I knew a manager laid off two months before thirty years and she hates their guts.

Oh no, you are stuck. I feel bad for you, but do not expect the company to do anything for your situation. If you have any doubts, watch the Stankey/Santone call when the recording is posted next week. Watch him and see how much much empathy or respect he has for you – none.

Thank you for your 22 years. I have respect for your service, but your CEO has comtempt for it.

No ... it is what it is ... The company doesn't care if you reach the number or not before being surplussed if you are.

I am 55 with about 26.5 years and had to wait until 55 with my years being too few. If I would have left before it, I would have lost about 1/3 of my pension.

You would think the company once and for all would offer a company wide SIPP and let managers on the local level decide how many people they can lose at each building, but alas, our company is too dumb to do something like this and end the endless surplussing.

They will not make exceptions.
No chance.
I had a co worker who got laid off 2 months short of his 30 yrs.
They would not help him.

Nope.