The 2021 pension funding docs filed with the Dept of Labor show a funding level of 95%. But what assumptions go into that? Does anyone know how to get more transparency or an opinion of a 3rd party actuary?
15 replies (most recent on top)
Trust nothing. Cash out if you can
so glad I didn't retire from att. don't want to depend on them for anything especially when I retire.
Ask DELPHI employees about their experience with PBGC! Enough said!
"You do understand that they have no obligation to guarantee your pension dollar for dollar?
Ask the retirees from American Airlines that ended up with about 40 cents on the dollar after a corporate bankruptcy and their pension was guaranteed by the PBGC."
The statement above is 100% accurate. If the pension ever goes to PBGC it will be a bad scenario! Based on how T is going, this can happen. Stank hinted at freezing the pension back in 2021. This is one reason I jumped and took my lump sum.
Take the information you have to your personal financial advisor and have then explain the details to you. Being a fiduciary they are by law required to look out for your financial interests and that information is vital for them to serve your needs.
“The pension is insured by the Pension Benefit Guaranty Corporation (PBGC). That's your 3rd party that oversees AT&T's pension reports, since they are holding much of the bag, should AT&T not be able to meet its obligations.
https://www.pbgc.gov/“
You do understand that they have no obligation to guarantee your pension dollar for dollar?
Ask the retirees from American Airlines that ended up with about 40 cents on the dollar after a corporate bankruptcy and their pension was guaranteed by the PBGC.
Yes, but most millenials, Gen Zer's, and Gen Let's still, and will continue to live in Mom's basement! When Mom expires, they move on up to the first floor. No pension required!
Since 2/3 of T's employed base does not qualify for a pension, who cares! Time to reverse this cr-p, give all T employees a chance for a defined benefit pension plan. 401 returns are non-existant, unless you have a rich uncle, most of us will be on welfare in our golden years.
Don't worry - Executives have their pension money in a separate account and it only goes up. They will be O.K. You will not see them having to work at Walmart greeting customers.
The pension is insured by the Pension Benefit Guaranty Corporation (PBGC). That's your 3rd party that oversees AT&T's pension reports, since they are holding much of the bag, should AT&T not be able to meet its obligations.
https://www.pbgc.gov/
Why? What is OP going to do with that information? Write a book?
Who cares?
DONKEY !
95% is good but not great. That 5% shortfall could very well remain at 5%, but the actual amount will keep growing. The smart move is to shore things up now.
If it makes you feel any better, and number of public employer pensions are at far worse funding levels.
Seriously!?! Why the heck are you asking this question on this forum? Sigh.