Thread regarding AT&T layoffs

I just called FIdelity. The last date that we can take the lump sum in 2021 (with the 2020 rates) is Dec 1. I will take mine on Nov 8 and get the Dec 1 lump sum amount with the 2020 rate. The 2022 bond rates are based on what the Fed decides in 2021. We'll know if the Fed raises rates for 2022 by Dec 1 but I am still not taking any chances and will take my lump sum in November. I may not actually get the money in 2021 as the turnaround time is 6-8 weeks. Good luck everyone!

"as you can only request lump sum on the 1st of each month". When I use the Nov 8 date (1 month after I turn 64), I see the Dec 1 date and Dec 1 amount for my lump sum. If I use the Nov 1 date, it shows me the October amount. I think you can request it any day of a month but the lump sum date moves to the next month amount based on your birthday. Certainly, I will not go past Nov 8 to get the 2020 rates. Not taking any chances here.

If you want to take lump sum based on Nov 2020 rates, you must leave in November or earlier as you can only request lump sum on the 1st of each month. If you leave in December the earliest you can request the lump is Jan 1, 2022 and you will then get the Nov 2021 rates to calculate your lump sum.

What say I: Ignore all of your noise. Just leave, dude. We're pretty sick of your endless rants....expect to see you on the news one day....not in a good way.....

Do you still receive your annual management bonus (ie 11% for 2nd line mgmt) if you voluntarily leave in the middle of the year and HAVE hit MR75? Or do you have to be on payroll at the end of the year?

Further information from "Your Guide As You Leave the Company" March 2021

page 12
If your last day on payroll is the last day of the month, your group health coverage ends that day. . . . For information on when you will be notified of your eligibility and coverage options, see the Timeline of Events.

page 14
Timeline of events regarding coverage elections - Within two weeks after your termination of employment date - Look for information from the Eligibility and Enrollment Vendor

That does not make sense. You will receive information on coverage elections only after your current coverage has ended?

I read elsewhere (but cannot find it now) that if you are eligible, your health coverage automatically switches over from active employee to retiree benefits on your off-payroll date.

Just to be safe, I am going to retire mid-month instead of end-of-month.

Yes. “Roumer” is false. No idea what that is, actually.

The OP may have good point about leaving in the middle of month for continuity of health care coverage. In theory, you should be OK if you leave at the end of a month, but leaving in the middle gives an extra time cushion just in case something goes wrong or gets delayed.

Could someone who has actually experienced this please comment and let us know how this actually works in the real world? Did you retire at the end of a month, and if so, did you have problems, or did your health coverage transition smoothly?

I had planned on retiring at the end of a month, but now am considering pushing it out by 2 weeks just for this reason.

From the AT&T Retirement Guide, page 17 ("Your Guide as You Leave the Company") March 2021:

"If You Are an Eligible Former Employee and Not Medicare-Eligible at Termination of Employment . . .
Your post-employment AT&T group health coverage, if you are eligible, will begin the first day of the month after you've left the payroll. For example, if your last day on the payroll is March 28, your active coverage will end on March 31 and your post-employment benefits will begin on April 1."

Go the 15th November. Use as much vacation as you like, By then you will earn a full years worth. Bonus will be prorated to however many months you are on the payroll, paid next March. Get retiree healthcare subsidized, You do open enrollment within a week of being gone. Work thru the tools on benefit web site under life events/Retirement to get cost. Work with financial advisor on how to take retirement. Lump sum is usually best long term option unless you plan on living 30+ years. Annuity stops at death.

Getting financial from anonymous malcontent. Good luck.

I don't think you have to collect the lump this year for this years interest rates to be used in calculating it. I believe you just need to specify that that's your last day is before 12/31/20 and you want your retirement to start paying out the next day. That's for management, no idea for union folks.

“Do not expect ANY pro-rated bonus next year if you retire. T only pays partial bonuses if you are wacked.”

I was under the assumption that if you were MR75 you received a pro-rata team award regardless of when you left during the year. You did not have to last until the end of the year.

OP forgot to add:

• Ditch all T services the day you go off payroll, T Cell, T "free" phone, T DSL, DTV, HBO Max - go to competitors whose normal retail is cheaper than T's "discounted" prices. Get rid of all ties to T.

Fu-k these clowns. I'm out! Going with a competitor, 30 years of skills, going away to make the competition "Great" again! Bye Felicia!