ATT drops retiree life insurance to $15,000

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ATT drops retiree life insurance to $15,000

Postby dwhisenant » Fri Jan 29, 2021 2:54 pm

Hope Avaya doesn't follow this, ATT dropped all past and future management retirees life insurance (company provided and seen on W-2) death benefit to a flat $15,000.

Speaking of Avaya and W-2s, I noticed that the reported income from life insurance policy dropped almost 50%. That implies that Avaya has either reduced the value or negotiated a better rate - or maybe they update the mortality tables. Don't know what is going on, but I am 72 and past the years of value reduction so I can't see why it would drop so much.
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Re: ATT drops retiree life insurance to $15,000

Postby dmassoni » Fri Jan 29, 2021 5:39 pm

Avaya W2 via Alight

I see that box 11 (Nonqualified Plans) for 2020 is now empty whereas it was populated for 2019. Most likely an effect of the bankruptcy?
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Re: ATT drops retiree life insurance to $15,000

Postby tfelix » Sun Jan 31, 2021 12:59 am

Don, my W2 does not reflect a dramatic drop for life insurance imputed income. Mine only decreased about 16%. I am 68 years old.
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Re: ATT drops retiree life insurance to $15,000

Postby patn » Wed Dec 13, 2023 10:38 am

The imputed tax rates are set by the Federal Government to decrease every year. You will stop paying completely the year after you turn 70.
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