Stankey and Randall will get full use of the corporate jet after 65 to fly to their vacation homes, golf outings and family ski trips! That’s all that matters.
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A one time $300 or $500 dinner/party isn’t going to bat an eye. Pennies compared to the savings of removing an active employee.
I did hear a rumor last year that these were going away, though. Surprised it hasn’t yet.
Look for Stankey and Santone to eliminate the retirement celebratory benefit. They didn't even think about the cost of this benefit, with the high number of employees leaving by EOY, no way they will continue this bennie.
Yes, I had a Retirement dinner for four. I spent the $500 allowed and I actually paid an extra $50 to cover the entire bill. It was a really good time.
Are those choosing to leave still getting funding to hold a retirement lunch or dinner? I haven’t heard of anyone I know making a final decision. Glad to hear this! It’s too bad COVID will prevent large gatherings.
@mnj+1cmkUuWn absolutely they can. And probably will.
I will be leaving at EOY. Haven't picked a date, but don't plan on leaving any notice. Since I am remote, no coworkers nor boss anywhere near, I can get away with this.
Go to my retirement dinner, with my wife. Submit the receipts to Jeremy Legg along with my resignation, all effective the very next morning.
That simple.
No way, they cant do that and get away with it.
I just hope Stankey and Santone don't eliminate our retiree healthcare after we all leave prior to EOY 2021.
Last day for me will be 11/30 so I can take advantage of the favorable interest rate for lump sum pension withdrawal. i plan on telling them at the end of the day on 11/19. That's a little less than the customary two weeks and Thanksgiving is in there. Might even use a couple/few vacation days as well. If that's a problem, too bad. I owe them nothing.
Many are sticking it until November. In order to take advantage of the low interest rates from last November on your lump sum payout you have to be off payroll in Nov. An extra month(staying in Dec) gets you that salary but you would see a HUGE impact (double digit reduction) in the amount of the lump sum due to the rising interest rates this year. Happy Holidays will be really happy for those able to say goodbye. Agree that Stankey and Santone set a really low bar with their 2 week notice to employees so they will reap what they sow
When I leave 9/30 my retiree medical starts 10/1. You leave on 10/8 your retiree medical starts 11/1. Pull the retirement guides (there are 2) and read thru them. They give you info on every step of the process.
My prediction: Sometime in December, 2021, after it is too late for anyone retiring in 2021 to change their minds, Stinky will pull retiree health benefits.
Pow! Wouldn't that be a gut punch for folks that just gave up their jobs and health insurance!
Stinky will sit back and smile!
Don't know how many times that this has been explained!
1) At the end of 2020 people who retired after 12/31/2020 do not get medicare supplement. Currently I think that retirees get $2700 for medicare supplement. This expires in 2023 and will have to be re-negotiated. GOOD LUCK with that one.
2) At the end of 2021 people who retire after 12/31/2021 will not have Retiree medical - PRE MEDICARE. This is for people retiring under 65 or Medicare eligible. Of course I suppose sorry management can terminate it at any time. If you retire after this year you can still be on AT&T plan but pay full price.
WATCH THE SLOWLY ERODING BENEFITS. DO NOT TRUST THIS COMPANY
"Are you implying that these future retirees will only have the healthcare subsidy for one year? After that, it will be taken away by Stankey and Santone? "
The subsidy may or may not continue. That's been made clear in many meetings. It's not guaranteed.
So, if you're close to Medicare, you'll probably be fine. If you've got more than 2-3 years, you might not see the subsidy all the way to 65.
It is not 1 year. It is retiree benefits until medicare at 65. EXAMPLE: If you are retiring at 60 it is 5 years of retiree benefits. If you leave after EOY 2021 you will not get this but you can pay full price thru AT&T plan (not a good deal..cheaper on exchange). The difference for single is $700 per month. I have heard family can be up to $2000 per month difference depending on where you live. So basically if you have worked your whole career with Rule of 75 in the future that is being yanked out from under you by our incompetent management team (cant even say the smelly mans name) due to their horrible decisions (DTV, TW, Tmobile, etc.) I am ok and in a good position so I will be leaving. I feel bad about those that have made Rule of 75 that are not ready/able to retire only to have these sorry-excuse-for-human-beings steal it from them.
It doesn't seem like one year of retiree healthcare is a very good incentive to leave if you are not close to Medicare coverage. Am I wrong? Why not continue to work until Medicare eligible? Something doesn't add up.
Post from TheLayoff.com
Your current medical benefits will end the last day of the month your retire. in this case 9/30. So on 10/1, will your new retiree medical benefits be available? I thought it could take up to 2 weeks for that to happen. I'm asking because i was thinking of picking 9/30 as well but then i thought maybe 10/8 would be better.
I’m leaving 9/30/21. I was on the fence, going back and forth until I finally committed and now I can’t wait. 6 weeks and counting. 😉
BTW - Stink cut retiree healthcare because it is paid out of the pension fund and the pension fund is grossly underfunded and required $5B and Stink would rather S C R E W over employees that were planning on having this benefit for decades.
Yes, that is exactly what I am implying. I just hate all the take backs due to poor acquisition decision making.
There are 14,000 management that are effected by this. All I have talked to are waiting as long as possible to help run T out of $.
I am still on the fence. My organization started asking. I told them I am undecided. If they ask again, I will say I am leaning on staying. Then I change my mind I will give my official notice. When T wacks you Stink gives you 2 week and you are out. I have no problem doing the same to the Stink.
But then the Stink releases another Stinkbomb and I want to leave his toxic T immediately!
Are you implying that these future retirees will only have the healthcare subsidy for one year? After that, it will be taken away by Stankey and Santone?
It is not a small portion of management that is eligible for this benefit (thousands) and most are leaving before end of year...including ME!
There is a small portion of management eligible for subsidized health insurance benefits after retirement. The company is eliminating that subsidy for anyone that doesn't retire this year. Anyone that retires after 1/1 will have to pay full cost for insurance coverage. For a single person, thats probably $750 a month. For a family, you may need an extra $2000 or $3000 a month to buy insurance.
Vast majority will be waiting until the end of the year. I know of a couple already gone and a few more next month. Still, most want to hang on as long as they can.
What’s special about 1/1/22?
There is a small portion of management eligible for subsidized health insurance benefits after retirement. The company is eliminating that subsidy for anyone that doesn't retire this year. Anyone that retires after 1/1 will have to pay full cost for insurance coverage. For a single person, thats probably $750 a month. For a family, you may need an extra $2000 or $3000 a month to buy insurance.
What’s special about 1/1/22?
We have many who have indicated they are leaving before year end.