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AT&T and CWA Agreement Thumbnail

AT&T and CWA Agreement

In writing this article, we meant to be broad regarding the details that we shared and misspoke when doing this. Therefore, click here for a few corrections.

Recently, AT&T and the CWA reached an agreement to surplus some job titles in this area. At first, this will be a voluntary surplus that allows for those ready to make a career change to earn some extra dollars on their way out.

These are the key points as we understand them:

  • Currently, this is only offered to certain job titles: Communication, Digital, Facility Service, Outside Plant, Systems, and certain Electronic Technicians will have the opportunity to indicate an interest in a voluntary severance package.
  • This voluntary offer is similar to SIPP/ESIPP plus $50,000. There are some exceptions to this offered amount. And this is taxable.
  • Offers may be granted on seniority.
  • Who receives these offers will be announced after July 1 and the off-payroll date will be no later than September 1 and possibly earlier than July 31.

What should you do?

First, if you are thinking about this, consider if you are ready to retire or move to another career. This is a big step. Please keep in mind that economically the nation is in a tough position and unemployment is very high. This does not necessarily deter you from retiring, but if you are looking for another career, please make sure that you have a job in hand. In other words, look before you leap!

Are you financially able to retire or move to another career? How much is your pension, 401k, and other retirement savings? What are your expenses? How much is your health insurance? By the way, retiree health insurance is probably changing next year. Simply put, are you prepared? Do you have a plan that can be executed?

What are your next steps? Let’s meet and talk, as it always helps to have someone to bounce ideas off of. Let’s make a plan, don’t just dive in. You should consider your financial tools and expenses, then fit these all into one big plan that fits you. The steps following this will be due to your goals and plans. You may be turning in the volunteer offer paper and carrying out your financial plans, or you may do nothing. Either way, you will know that you took the time to consider this offer, you did not miss an opportunity, nor did you jump on an opportunity that was not best for you.

Please call us if we can help in any way at 601-856-3825, or email Tonia at tray@soundfsg.com.

The information above was obtained from sources deemed to be reliable. Sound Financial Strategies Group takes no responsibility for incorrect information. This is presented as an informational article only.
Investment Advisory Services offered through Sound Financial Strategies Group, LLC (SFSG), a Registered Investment Adviser. Certain representatives of SFSG are also Registered Representatives offering securities through APW Capital, Inc., Member FINRA/SIPC, 100 Enterprise Drive, Suite 504, Rockaway, NJ 07866 (800)637-3211. SFSG and APW Capital are separate and unrelated companies.
The opinions expressed are those of Sound Financial Strategies Group, LLC (“Sound”). The opinions referenced are as of the date of publication and are subject to change without notice. This information is not a recommendation to buy or sell a particular security or to invest in any particular sector. Forward-looking statements are not guaranteed. Sound reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs, and there is no guarantee that its assessment of investments will be accurate. This information is not intended to be investment advice and does not take into account specific client investment objectives. Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.
Sound is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Sound’s investment advisory services can be found in its Form ADV Part 2, which is available upon request. SFS-20-89

The Author

Chris McAlpin

Managing Partner and CEO

With over a decade and a half of helping clients manage their finances and move from a life of work to retirement, Chris has helped his clients align their purpose with their profit in their financial plans. Chris has a Master of Business Administration from Mississippi College and a Bachelor of Accountancy degree from the University of Mississippi.