Is it possible for AT&T to use the 401k balances to pay for any pension shortfalls? Sort of like Social Security does when they take the current months contributions from current workers to pay out benefits to the retirees?
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Does anyone know if JS is getting advice from Putin? I recall our prior President put a cage around the White House and had a liken to Putin. So cages are coming to Dallas HQ?
The PBGC doesn’t guarantee your pension dollar for dollar. It will be determined by what funding they have available to maintain it. Don’t plan on getting every penny you are owed.
Stock would be worthless so make sure you are not invested in T. Also pension’s could be at risk if your not retired and took lump sum.
Probably freeze annual pension contributions for any still receiving and perhaps halt 401k contributions. Time will tell.
AT&T and their lawyers will take back everything. Better hold on because its going to be a rough ride.
JS takes the crumbs to Vegas
401k is with Fidelity. Just don't have too much att shares. You can always move it to another fund.
More reason to take the lump sum from your pension
Only company stock is at risk in a 401k. Pensions are determined by what has been paid into the fund.
"It’s all gone when filling bankruptcy." WRONG!
401k is protected by ERISA. Company stock would be a loss, but the other balances would still be there. Also, any pending company contributions might also be lost, depending on if a company hasn't made the most recent required deposits in anticipation of the failure.
Pension for current employees is insured by PBGC, but the pensions of already retired which recently transferred to Athene are no longer PBGC insured. Those are now "guaranteed' by the insurer instead of the feds.
401K is fine, just as long as you don’t have anything in your T Shares fund. You’d have to be a complete buffoon to have any of it in there.
It’s all gone when filling bankruptcy.
Pension is insured. The AT&T stock part of the 401K would be wiped out. This is what happened to world com, bearsternes, and lemon bros employees and why I sell off my comp stock at the end of every quarter
The AT&T Stock Fund and the match in that will be wiped out. When you rollover your Fidelity ATT account to a rollover that stock fund converts to equivalent shares.
Stock shares will most likely be dissolved. Bond holders take precedent over stock holders.
Other mutual funds will be fine. Pension is underfunded so some of it will be insured I assume. Maybe someone in HR can weigh in on this?
401k funds are fine and yours with administrator
Pension it's insured....get in line like FEMA and make a claim
Bye bye Retirement possibility in disfuctional USA
Calm down nervous whippersnappers! High pain awaits you here, but not imminent death. That will take much longer. Slow painful bleed is this disease. Call for stinky's firing. That is critically urgent now.