If a manager with over 25 years with AT&T would get terminated, not surplussed, would they lose their pension? Or is what already is vested safe?
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Not so fast. If you violate the COBC, you jeopardize your pension and the company contribution portion of your 401K regardless whether you’re management or craft. It is rare for the corporation to invoke this penalty, but it has happened to egregious violators in the past…so you better follow the rules. Once you’re caught, it’s too late.
It doesn’t matter what company or entity you were hired into. When you meet the requirement for ‘vesting’, that means when you are retirement eligible, you can collect it. If the company’s rule, for instance is 5 years to vest,, that would apply to a 35 year old who left the company after 7 years employment or the 55 year old who retired after 25 years.
Now that could depend on who your 25 years are with. If you came from an acquired company after some date, there may be exclusions. verify with Fidelity your vested amounts.
man, you'd have to get caught watching a LOT of p0rn in your office to get terminated after 25 years. Trust me, I know!
It depends on if he has been a manager the whole time or was part of the pension vested as a non-manager.
Anyone that actually has that amount of time knows the answer.
Vesting means that you would own 100% of pension accursed when you are ready to take it. Employees often leave or are terminated even though they’ve met the requirement for vesting; most well before retirement eligible. Nonetheless, their pensions are still theirs.
I resigned after 20 years and 100% of my pension is vested and sitting for when I retire. No matter how you leave your vested portion will sit until you withdraw
Based on the clarity and grammar of your post - you forgot the decimal point.
After 2.5 years - you get nothing.
Nothing.
What is vested is yours.