The yield on the 30-yr. Treasury fell today to 4.31%. Although this yield is still higher than May’s monthly average of 4.23%, it was an encouraging way to close the month of July as we head to the all-important month of August. Why is August so important? Because August’s monthly average yield will be the GATT Rate that is used in Verizon Associate pension calculations for October-November-December retirements.
As many of you have seen, your lump sum amounts declined drastically from June to July. The August rate will give us tremendous insight into what the drop-off could be from September to October. So, for those of you debating whether to accept the September 12th EISP offer, it is very important that you pay close attention to the yield on the 30-year Treasury throughout the month of August. We will be reporting that information right here on the blog, and we’re also standing by to help you.
Please call Harris Financial at (800) 281-3980 or (804) 526-0544, and ask for Carl, Jamie, or Steve.