AT&T Midwest/Legacy S announces 2017 1st Quarter Surplus

Yesterday, AT&T announced a 1st quarter surplus in the Narrowband Organization within the Premium Care group in the AT&T Entertainment Group.  This surplus will affect employees represented by CWA Local 4340 in Brecksville, OH.

The majority of the employees to be affected by the AT&T announcement have met with management yesterday, December 15, 2016 to review SIPP information.

AT&T’s announced surplus affecting CWA Local 4340 members are:

• AT&T is eliminating 52 Maintenance Administrators (MA) positions at the Brecksville Repair Call Center.
• AT&T is eliminating 4 Technical Associate (TA) positions at Brecksville Repair Call Center

Article 26 of the CWA contract with AT&T governs all AT&T surplus declarations.  Please contact your Steward or the Union office with questions regarding Article 26.  The Union will continue to release updates as there are updates. 

2017 Corp Bond Rate

To: All AT&T Union Members

Today corporate bond rates were published.  The new corporate bond rates affect the value of AT&T lump sum pensions, which will change in the 2017 calendar year. 

The US Congress authorized employers with defined benefit pensions to change the calculation formula for lump sums, phasing out the “GATT Rate” that had been used for many years, and replacing it with a new set of interest rates.  The phase-out happened at AT&T over a four (4) year period from 2011 to 2014.  The GATT rate is now gone – only the corporate bond rates are used. 

As a general rule, higher interest rates lead to lower lump sum values.  But changes in rates will affect each of you differently. 

It is recommend that you discuss your pension and/or retirement options with a financial professional.

Below are the Corporate Bond Rates for 2015, 2016 and 2017.

Segment	2015	2016	2017
Tier 1	1.40%	1.76%	1.79%
Tier 2	3.88%	4.15%	3.80%
Tier 3	4.96%	5.13%	4.71%

In Unity,

Gary Kundrat, President
David Passalacqua, Executive Vice President
Linda Burns, Secreatary/Treasurer

AT&T Midwest/Legacy S 2016 SSP Award Payout

The Local has received the following information regarding the 2016 Success Sharing Plan (SSP) for the Midwest/Legacy S Contract.  The SSP is a bargained for benefit in our Union contract, Appendix A6 pg 116.

The 2016 award year SSP payout should appear on the following checks. 

A1 pay cycle – 11/18/16  (A-1 pay cycle is Illinois and Ohio)

B1 pay cycle – 11/23/16  (B-1 pay cycle is Indiana, Michigan and Wisconsin)

AT&T Services and Appendix F are on the A-1 and B-1 corresponding state pay cycles

SBC Global Services (Appendix G) and COS are on the B-1 pay cycle. 

For those involved the recent 9-15-16 surplus who left with SIPP on or after 10-1-16, who were otherwise eligible, will be mailed a check at their home address the same time as their above pay cycle.

In Unity,

Gary, Dave and Linda

AT&T Open Enrollment - Deadline Friday, 10/21/16 @ 5:00 pm

Deadline is fast approaching!  Even if you are defaulting to your current coverage, we encourage to you still sign up and get a confirmation number for your records.  

Enroll either at website on www.att.com/benefitscenter  OR call 1-877-722-0020

Deadline is Friday, October 21, 2016 at 5:00 pm

 

AT&T 4th Quarter Surplus announcement

Today, AT&T announced a potential 4^th quarter surplus in the Premium Care National Back Office Customer Care Organization, Technical Field Services (TFS) and Business Services (BS).  This surplus will affect employees represented by CWA Local 4340 in the Cleveland FAA.

The majority of the employees to be affected by the AT&T announcement have met with management today, September 15, 2016 to review SIPP information.

AT&T’s announced surplus affecting CWA Local 4340 members are:

• AT&T is eliminating 10 Facilities Specialists (FS) positions in Lakewood.
• AT&T is eliminating 10 Service Technician (ST) positions in the TFS Department throughout the Cleveland FAA.
• AT&T is eliminating 1 Customer Service Specialist (CSS) position in Business Services Department in Cleveland @ Superior garage.

Article 26 of the CWA contract with AT&T governs all AT&T surplus declarations.  Please contact your Steward or the Union office with questions regarding Article 26.  The Union will continue to release updates as there are updates.