Wednesday, September 16, 2009

New Interest Rates and Pension Band Rates Have Now Been Updated at VZ Benefits Center

The Verizon Benefits Center has updated two key components of Associates’ Lump Sum Pension calculations. The GATT Rate for the 4th quarter (4.37%) now appears for benefit commencement dates in October-November-December 2009. In addition, the pension band increase of approximately 3.5% has also been updated. For those of you planning to retire with the October 31st EISP offer, you should now be able to get accurate lump sum projections. If you need any assistance with these projections, please call Harris Financial Group at (800) 281-3980, and we will be happy to help you.

For Verizon Associates in West Virginia, we know that there are also several of you who are curious about what your lump sum pension amount would be if you were to retire in the 4th Quarter of 2009. You should now be able to view these amounts online or request them from the benefits center. Harris Financial Group is available for free retirement consultations, either over the phone or in person, and we would be happy to help you gather the information that you need to make your decisions.

Thursday, September 3, 2009

Reminder: November is the Next Important Month for VZ Associates

Now that we know what the August GATT Rate was, we're now setting our sights on the next significant month, November. The November rate will be used for Jan-Feb-March 2010 retirement dates. We won't be providing daily updates on the GATT Rate until we get closer to November, but we will post any meaningful moves that may help identify the overall trend.

If you would like Harris Financial Group to help you evaluate your lump sum pension amount for the 4th Quarter of this year, please give us a call at (800) 281-3980. We should be able to help you determine whether the benefits center has updated the system with the new GATT Rate.