As an AT&T employee, one of the most important financial decisions you’ll make comes near the end of your career: Should I choose an AT&T lump sum or monthly annuity pension?
Exploring new places and new things is actually a way to learn more about yourself. As the poet T.S. Eliot put it: “The end of all our exploring will be to arrive where we started and know the place for the first time.”
Major changes are coming to AT&T’s retirement benefits for management employees.
In mid-December, AT&T sent an email to many management employees announcing an adjustment to the way future pension credits are calculated, along with the elimination of retirement health insurance and a reduction in retiree life insurance.
These days, it is rare for someone to spend their career in one place. Most people jump around, leaving for a higher salary or winning work culture, much like professional athletes. There is nothing wrong with trying to better yourself, but it can come with a downside when you’re ready to hang it up: finding all of your old retirement benefits.
For many AT&T employees, the opportunity to retire comes earlier than planned. To restructure its workforce, AT&T will at times present retirement-eligible employees with a Supplemental Income Protection Plan (SIPP) offer. This provides a financial incentive to voluntarily leave the company, should you accept it. Typically, you only have a short window of time, around 7-14 days, to decide.
As we all work to stay safe, one additional thing likely on the minds of many AT&T employees right now is the health of their 401(k)s. One potential factor in how yours is holding up right now is how much AT&T stock you own.
One of the most important things to plan for in retirement is healthcare. Essentially, how are you going to pay for medical costs that will only rise as you grow older?
Don’t let anyone tell you that your birthday is just another day. Each revolution around the sun may mean greater access to your retirement savings and other assets. That’s worth celebrating. As you start to prepare for retirement from AT&T, there are some birthdays that are more important than others.