Heard that leadership is discussing cutting the Pension contributions in 2022 as a cost saving. Maybe Legg will say he doesn't have an AT&T pension so why would anyone else care. There are so few active employees that still qualify for a pension that the cost savings can't be that much. But if the pre-medicare subsidy cut for 2022 doesn't thin the ranks then cutting the pension may just end many careers. Those that don't have a pension option probably don't care about this but if they cut the 401K contribution I'd bet you would sit up and take notice!
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What? Eliminate 401 employer contributions, thats insane. I will never be able to retire. How unfair if true.
no more pension contributions? does that mean pensions frozen? as of 1/1/2022 they are reducing pension growth by 33% which they announced last December or are we talking about how they will announce this December (remember, they always give us an unpleasant Christmas 'present') that anyone still on payroll 1/1/2023 will have pensions frozen in place
to @1ygp, I heard the Pension comment from someone in Payroll.
Stankey is a indian giver. Enough said!
Unfortunately Stankey treats employees like animals to be manipulated for his benefit.
Nobody likes cuts but it's still generous with the cuts.
Use an optional holiday for Juneteenth, it’s not going to be a regular holiday.
I can't imagine they could somehow contribute less
They could start contributing zero.
Don't get me wrong, I am not complaining as I know many don't have any pension benefit at all. But mine isn't one of these ones that I hear folks talking about..."if they had another 6 months they'd have another could hundred thousand in their pension". I don't know how it's calculated, but my cash value (and rest assured, I WILL be taking the lump when I leave) goes up maybe a couple grand a year. I can't imagine they could somehow contribute less, though I understand that's what's going to happen. I feel like it would grow faster in a savings account. I'll just be glad to get that lump when the time comes so I can really put the money to work.
The company has already confirmed pension calculations are changing 1/1/22 and not in the employee’s favor.
Heard? Heard they’re cutting pension..,heard they’re thinking of eliminating 401K employer contribution. Heard? What’s your source?? If you can’t provide some semblance of possible fact, one might gather you’re making up the ‘rumor’. Or you could be hearing things….
Fixed it for you...
So we can afford Ratty and Stinky to jet around around day after day and F U C K U P but we can’t afford pensions & healthcare?
They have to honor bargained for contracts
for the Union members. Most get a 1% bump in January of the new year. Obviously as these contracts expire and are renegotiated, anything is possible. AT&T’s pension fund is in good shape and will likely be offering incentives to top craft to get them off the books.
So we can afford headcount to sit around day after day and do nothing but we can’t afford pensions & healthcare?
its gonna happen sooner or later
I wouldn't be surprise if pensions are gone and 401k reduced. HR had cited numerous times that they are doing market benchmarks on "adjusting" pay scales to be "competitive". In reality, the pay is average, not competitive, plenty of online sources will back this up.
Yes, less companies have pensions plans, retiree benefits, etc. This is because the market place is competitive, people wants flexibility like 401k so they can choose what to invest . People do appreciate family and health leaves as benefits. Competitive companies are doing all these and they are paying more, with more vacation as standard. Needless to say that Stankey's takeaways are anticompetitive, they can repeat the same lies and won't make them true.
So cheap - T Mobile just gave their employees another yearly Holiday as they recognized yesterday's signing of Juneteenth don't have to worry about these bloodsuckers doing anything near that
Look for Stankey to eliminate 401K employer contributions next. That would save T an enormous amount of coin. No other bennie cuts would give them the ROI that they are looking for, except possibly healthcare bennies.
Heard the same - no more pension contributions after 2022. Except for Stinky and the other blood suckers of course.