I would pass the word to everyone you know to make sure they read the fine print in the latest Pension funding statement. Looks like the lump in the very least it's already cut in half. Don't look at the tables in the statement. Look at the last paragraph:
"The chart above shows the Plan's funded percentages as of valuation dates in 2020 and the previous two years because this notice is for the 2020 Plan Year. "Although the funded percentage for the 2020 Plan Year exceeds 80%, the Plan's actuaries have issued a range certification that the Plan's funded percentage is at least 60% but less than 80% as of January 1, 2021, with an estimated funded percentage of 76%. Under Federal law, the Plan became subject to full restrictions on paying lump sums when Frontier Communications commenced a reorganization under Chapter 11 of the United States Bankruptcy Code ("Reorganization") on April 14, 2020. Assuming Frontier completes the Reorganization in 2021, the Plan will no longer be fully restricted from paying lump sums, but the Plan will remain subject to partial restrictions on paying lump sums because the Plan's funded percentage for the 2021 Plan Year is less than 80%. Because the Plan's funded percentage is not less than 60%, the Plan will be permitted to pay up to half of a benefit in the form of a lump sum after the Reorganization is completed. You will be provided a separate notice as required by Federal law describing any restrictions due to the Plan's funding that may impact the payment of your benefit as a lump sum or other distribution form within 30 days after the Reorganization is completed."
I wonder if the Negotiating committee for the union slid this statement accross the table while negotiating? :–/
I doubt it.