Retirement Benefit Changes at AT&T
There are some big changes happening with the AT&T benefit package for newly hired managers in 2015! AT&T is adjusting their retirement plans to be more aligned with other employers.
Starting January 1, 2015, all newly hired managers will have the benefit of an enhanced 401(k) with a 100% match. This differs from the 80% match for current management employees. Newly hired managers will be able to get the 100% match on basic contributions up to 6%.
The pension benefit that is currently available to managers will not be available to newly hired managers hired after December 31, 2014. Employees hired before January 1, 2015 will continue with both their current pension and the current 401(k) benefit plan.
As AT&T makes these changes, it can be a great benefit for newly hired managers if they follow good 401(k) management practices. If you have questions about how these changes can impact you, contact one of the financial advisors at Sound Financial Strategies Group. We have the knowledge and experience to help you take advantage of these 401(k) changes. Call us today for a free, no obligation consultation. We look forward to talking with you!
Investment advisory services offered through Sound Financial Strategies Group, Inc.("SFSG"), a Registered Investment Adviser. Securities offered through Comprehensive Asset Management and Servicing, Inc., ("CAMAS") Member FINRA/SIPC. SFSG and CAMAS are separate and unrelated companies. Neither SFSG nor CAMAS are endorsed by, retained by, or affiliated with AT&T. The opinions voiced in this article are for general information only. They are not intended to provide specific advice or recommendations for any individual and do not constitute an endorsement.
Posted on Tue, October 21, 2014
by Sound Financial Strategies Group