AT&T and CWA agreement, summer of 2020 EDITS & RE-WRITE

Last week we wrote an article regarding the recent voluntary severance package. When we wrote this, we intended to communicate the importance of this decision, especially in this current economy. We meant to be broad regarding the details that we shared and misspoke when doing this. Therefore, these are a few corrections.

AT&T has offered a voluntary severance package. We wrote that this was an agreement between AT&T and the CWA and unintentionally mischaracterized this. This will be a voluntary surplus that allows for those ready to make a career change to earn some extra dollars on their way out.

Instead of us summarizing the key points and trying to give a general explanation of two different offers, please review the AT&T paperwork. We are here to help you make personal decisions regarding your future and how this offer can affect that.

What should you do?

First, if you are thinking about this, consider if you are ready to retire or move to another career. This is a big step. Please keep in mind that economically the nation is in a tough position and unemployment is very high. This does not necessarily deter you from retiring. But if you are looking for another career, please make sure that you have a job in hand. In other words, look before you leap!

Are you financially able to retire or move to another career? How much is your pension, 401k, and other retirement savings? What are your expenses? How much is your health insurance? By the way, retiree health insurance is probably changing next year. Simply put, are you prepared? Do you have a plan that can be executed?

What are your next steps? Let’s meet and talk. It always helps to have someone to bounce ideas off. Let’s make a plan, don’t just dive in. You should consider your financial tools and expenses then fit these all into one big plan that fits you. The steps following these will be due to your goals and plans. You may be turning in the volunteer paper and carrying out your financial plans. Or you may not do anything. Either way, you will know that you took the time to consider this offer, you did not miss an opportunity, nor did you jump on an opportunity that was not best for you.

Please call us if we can help in any way at 601-856-3825 or email Tonia at tray@soundfsg.com


The information above was obtained from sources deemed to be reliable. Sound Financial Strategies Group takes no responsibility for incorrect information. This is presented as an informational article only.
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