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Entries by CWA 4340 (51)

Friday
Apr142017

Thursday
Mar162017

AT&T Midwest/Legacy S 2017 2nd Quarter Surplus

***Update***

AT&T announced that it will be cancelling the previously announced 2017 2nd Quarter Surplus for the Cleveland FAA TFS Department.  All employees that have requested SIPP at the begining of the surplus announcement will still be able to take SIPP.

****** 

Yesterday, AT&T announced a potential 1st quarter surplus in the Technical Field Services (TFS) Department and General SIPP in the Business Services Department.  This will affect employees represented by CWA Local 4340 in the Cleveland FAA.

The majority of the employees to be affected by the AT&T announcement have met with management yesterday, March 15, 2017 to review SIPP information.

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

  • AT&T is eliminating 18 Customer Service Specialist (CSS) positions in  TFS throughout the Cleveland FAA.
  • AT&T is also offering a General SIPP for 1 Customer Service Specialist (CSS) position in Business Services 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. 

Tuesday
Mar142017

AT&T CSS Seniority list

AT&T CSS Pooled Seniority List-**Updated 03/14/17

Friday
Dec162016

AT&T Midwest/Legacy S announces 2017 1st Quarter Surplus

Yesterday, AT&T announced a 1st quarter surplus in the Narrowband Organization within the Premium Care group in the AT&T Entertainment Group.  This surplus will affect employees represented by CWA Local 4340 in Brecksville, OH.

The majority of the employees to be affected by the AT&T announcement have met with management yesterday, December 15, 2016 to review SIPP information.

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

  • AT&T is eliminating 52 Maintenance Administrators (MA) positions at the Brecksville Repair Call Center.
  • AT&T is eliminating 4 Technical Associate (TA) positions at Brecksville Repair Call Center

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. 

Tuesday
Dec132016

2017 Corp Bond Rate

 

To: 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 2017 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 recommend that you discuss your pension and/or retirement options with a financial professional.

Below are the Corporate Bond Rates for 2015, 2016 and 2017.

 

Segment

2015

2016

2017

Tier 1

1.40%

1.76%

 

1.79%

Tier 2

3.88%

4.15%

 

3.80%

Tier 3

4.96%

5.13%

 

4.71%

 

In Unity,

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