Thread regarding AT&T layoffs

re: Please correct me if I’m wrong but i don’t believe lump sum is an option if your pension was sold to an insurance company

Not sure if it'll be an option once Athene takes over. My understanding is that they are betting on annuity payments so the money will work for them. I'm sure paying Lump-sum is not good for their businnes.

Take your money before August and go elsewhere..

Please correct me if I’m wrong but i don’t believe lump sum is an option if your pension was sold to an insurance company

yep saw this coming from a mile away. att is useless and they destroy everything they touch.

DUH, we never said we was perfect, okay it's Athene, not Athena!

It's Athene not Athena!
Note to telephone people:
READING AND READING COMPREHENSION ARE FUNDAMENTAL!

Got the letter - Legacy T, occupational.

You gotta love these imbeciles, it happens to be Athene not Athena.
Telephone people are just plain d-mb!

"I don't believe they can dobrhat to craft penaions which are guaranteed by govt."

Though obviously this was posted by an incompetent, I believe what they were trying to say is that the corporation can't move the bargained for pensions over to the Insurance company.

Which of course, is incorrect. They can do whatever that want to with them.

meet the Falkers

Pensions are no longer needed for retirement planning. They are viewed like social security, if it’s there when you retire, then it’s some extra cash. Individuals are responsible for retirement planning, don’t rely on your company. Establish max 401k contributions, Roth IRA, RMA’s, 529’s, and life insurance investments.

Debt? What debt?

they uploaded some mgmt pensions to Athena...I don't believe they can dobrhat to craft penaions which are guaranteed by govt.

Doesn't matter to me who I get my pension from. Getting paid.

Until you are not getting paid. Then you will be calling your old supervisor asking "Can I have my job back" No, you may not. AT&T is done with you.

This is a great decision by AT&T. As a current employee I understand that These moves are necessary to pay down debt.

"I am not worried because I am already vested in my pension."

This applies to you, vested employees! Might want to research what this is about cause it's not in your favor.

I am not worried because I am already vested in my pension.

Stop being an alarmist. And you should have taken the lump.

Who is Athena rock star?

Take the lump sum and invest it in bitcoins while it is still low. Your gonna be rich beyond your dreams.

Athena is gonna rock your pension. Invest that money and get a better yearly payout. Sweet.

Telephone pole climber = humble brag

Doesn't matter to me who I get my pension from. Getting paid.

"Taking financial advice from a guy that climbs a telephone pole."
I wouldn't brush that off :-)

I climbed poles, dug trenches, ran underground wire.....
Retired with $2.5 Million and not even 60 years old yet :-)

Now I can do whatever I want.
Take care
Sincerely, Telephone pole climber

Taking financial advice from a guy that climbs a telephone pole.

pension safety is concerned with how much inflation devalues your fixed defined benefit in 15 years combined with a 305 reduction in payment due to stock drops due to inflation. The PBWG federal insurance does not help prevent devaluation, but insures no reduction in payment amount. Defined contribution plans have a risk of being reduced or increased. We now have the worst combination of options. For 89,000 retirees; we have no incentive to support AT&T. As soon as concessions are gone or a non-AT&T option is less expensive, I'm changing providers.

In addition, that $8 billion is going into the investment markets!!

Where's the $8 billion now? Under somebody's mattress?

"Some people rolled the dice by not leaving last year with hopes of "making up the loss" to their pension in 5-10 years from now."

Most of those employees knew they would have pretty limited job options outside of T.

Stenkey is a crook!

Can they do that?
Re:
Why yes,yes they can.

"Can they do that?"

They just did. Emails went out last week to employees about the transfer of the pension. Takes effect August 1st.

Molly, you in danger girl!

Can they do that?

** Listen up ****
I'm sure the following statement is a sarcastic one, but we've all seen what the "Stank" has done to this company. If you believe Stank has a plan for you, it's gotta be bad! LOL

"Please stay the course Mr. Stankey has planned for you."...
This should tell you a lot. And it's not for your benefit!

Help, help, the sky is falling! I've been with Athene for six years now. I can honestly tell you that your pension is safe with us. Please stay the course Mr. Stankey has planned for you.