AT&T announces 2016 2nd Quarter surplus

Yesterday, AT&T announced a surplus throughout the Midwest.  This surplus will affect employees represented by CWA Local 4340.

The majority of the employees to be affected by the AT&T announcement have met with management on Tuesday, March 15, 2016 to review surplus and SIPP information.

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

• General SIPP is being offered to all BSIM & SDA Customer Service Specialists (CSS) with a cap of 10
• AT&T is eliminating 10 Facility Specialist (FS) positions in the Lakewood IPGNAC center
• AT&T is eliminating 1 Technical Specialist position in Infrastructure Management (IM) within the Cleveland FAA

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. 

2015 & 2016 Corporate Bond Rates

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 2016 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 recommended that you discuss your pension and/or retirement options with a financial professional.

Below are the Corporate Bond Rates for 2015 and 2016.

Segment	2015	2016
Tier 1	1.40%	1.76%
Tier 2	3.88%	4.15%
Tier 3	4.96%	5.13%

In Unity,

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

New AT&T/CWA District 4 Midwest Bargaining Agreement

Agreement Between AT&T Midwest & Communications Workers of America, District 4
Effective: April 12, 2015, Terminates April 14, 2018

2015 AT&T Midwest/CWA District 4 CBA & Letters Outside the Contract files

CLICK HERE TO VIEW THE CURRENT CONTRACT.

CLICK HERE TO VIEW THE "LETTERS OUTSIDE THE CWA DISTRICT 4 2015 CBA" FILE

Please note that this is a very large file and may take some time to download depending on your connection speed.

AT&T Midwest Update

As soon as Friday, July 31, 2015, Appendix employees will be able to build their Skills Inventory in the AT&T Non-Management Staffing Process system. The Union has asked the Company to notify all affected Union Members of this change to make sure everyone has an equal opportunity to access this new feature. This is a result from the new language in the recently ratified collective bargaining agreement.

Access to the AT&T Non-Management Job Profile can be found here:

http://att.jobs/employees/active-employees