Attention AT&T

We have had lots of calls from AT&T folks asking about the GATT rate. According to the CWA, the Pension Protection Act (PPA) Rate will be phased in 25% of the next four years until it completely replaces the GATT rate. If, however, during the life of this contract(until April 1, 2012), the GATT rate produces a higher lump sum than the combination of the PPA and GATT, then you receive whichever rate produces the highest lump sum for you.

Although this is a big change for you, you have the opportunity to see the difference the PPA rate produces without enduring its pain until 2012.

Please note, this post pertains to the AT&T Pension plan and contract. Verizon employees should not apply the information contained in this post to their own situation.

GATT Drops to 4.23%

It's looking more and more like the August GATT Rate isn't going to be as bad as it looked in early August. This is good news for anyone hoping to retire in the 4th Quarter, even though the August GATT will be higher than May's rate. Please call Harris Financial with any questions, (800) 281-3980 or (804) 526-0544.

GATT Rate Back Up to 4.36%

The week ended with the GATT Rate back up to 4.36%. We have six more trading days to determine what the average will be for August.

72(t) Rate on the Rise!

Here is a link to the latest Revenue Ruling from the IRS about the mid-term applicable federal rate that is used to calculate 72(t) retirement income payments. For more information about how much retirement income you might have, please contact Harris Financial at (800) 281-3980 or (804) 526-0544.

GATT Drops Again

Today's yield on the 30-yr. Treasury bond fell to around 4.24%.

GATT Rate Drops to 4.294%

Today's yield on the 30-yr. Treasury bond fell to 4.294%. This is good news for those of you considering the October 31st EISP package or for anyone considering retiring in the 4th Quarter of 2009. It is still too early to determine what the final monthly rate will be for August, but it is looking like the steep decline many of you saw on your lump sum amounts from June to July will not be repeated this time around. Stay tuned...

If You Have the October 31st EISP Package...

Please feel free to call Harris Financial Group for a low-pressure, no obligation consultation about your retirement options. We can discuss with you such important topics as:

1) How does the GATT Rate affect your buyout?
2) How much retirement income will you have?
3) What paperwork will you need to complete in order to retire?
4) What investment choices are available to you, and how much do they cost?

Please call Jamie, Carl or Steve at (800) 281-3980 or (804) 526-0544. We are scheduling appointments throughout the Verizon Mid-Atlantic footprint and would appreciate the opportunity to speak with you about your retirement!

GATT Rate Edges Higher to 4.365%

Not a big change on the 30-yr. Treasury yield today.

If you have been offered one of the latest October 31st EISP packages, please call Harris Financial Group at (800) 281-3980 or (804) 526-0544 to discuss the GATT Rate that will be used to value your lump sum pension amount. Or, if you are still debating about whether to take the September 12th offer, we can provide information on that as well!

GATT Rate Ticks Lower to 4.35%

So far so good for this week's GATT Rate watch. The yield on the 30-yr. Treasury bond dropped to 4.35%. With 11 more trading days left in August, it's still too early to make a call on lump sum amounts for the 4th Quarter of 2009.

Week Ends with GATT Rate at 4.41%

The rate has headed lower over the past few trading sessions. This trend will need to continue in a big way for the monthly average to approach May's 4.23% rate. By the end of next week, we should have a much better idea of what the August average is shaping up to be.