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Contemplating Change: 7 Key Factors When Considering a Transition for AT&T

With all of the changes at AT&T, including the increase in interest rates, workers should be aware of what to do in the event that they decide to leave. A significant life event, whether positive or negative, is retiring or, worse, losing your work. Your palms are perspiring, your thoughts are racing, and you feel as though you are unable to function. The loss of a job impacts the same brain receptors as the death of a loved one, particularly for individuals who have worked there for more than 20 years. After twenty years of service, your association with AT&T has ended. For all information on AT&T summary plan descriptions, don't hesitate to contact AT&T HR & Benefits at 210-351-3333.

When someone retires, loses their job, or loses a loved one, they go through the same five stages of mourning. Our learning to cope with unemployment includes a framework that includes denial, rage, bargaining, sadness, and acceptance.

Your emotions will be all over the place once the situation settles into reality. It's possible to feel irritated or angry at different times, and it can be tempting to let your feelings out. Recall that impulsive behavior rarely ends well and can exacerbate an already challenging circumstance.

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Here are a few items to check off as you consider leaving AT&T:

1. Sit down and carefully analyze your finances. If you have a spouse or signifigant other, involve them in this process. Avoid doing financial business with friends or family. Money and friendships do not mix.

2. Call your Credit Union or Bank, and consider opening a line of credit against your home equity. Consider opening additional credit cards to create an emergency credit line. As many of you have been employed your whole life, you probably won't think to do this - once you are unemployed, it becomes exceedingly difficult to get credit, making it very important you take this line of action.

3. Review your contributions to your 401(k), if any. Choose whether to continue making contributions for the remainder of your time on payroll or to stop making them completely in order to accumulate more cash up front. Your actions could have significant tax ramifications. Because of your severance package, unemployment, etc., you can find yourself in a substantially higher tax bracket depending on when you cease contributing.

4. It's not always a good idea to apply for unemployment benefits right away after losing a job. It may be advantageous to wait to file your claim so that your unemployment benefits fall in the next tax year, when your overall income is reduced due to your unemployment, depending on the time of year you are laid off and your financial circumstances. Before acting on this, there are a plethora of circumstances that you need take into account. We advise going over your options with an AT&T-focused retirement advisor by calling 800-900-5867.

5. Unless you believe your layoff was deserved, speak to a trusted lawyer to go over your options. Venting your anger at managers and colleagues may feel amazing temporarily, but it will damage your career in the long run. You spent all this time building up your relationships at AT&T, why burn them now? Avoid going online even anonymously to berate past AT&T staff & management

6. Have a plan for how to fill the void on your LinkedIn profile and your resume. If you are pursuing a new job, having a job makes it much easier when finding your next adventure. In the mean time, you might consider becoming a consultant until you find a permanent position. You may also find the ability go go back to AT&T as a contractor working on your terms.

7. Decide what you're going to say to your AT&T colleagues. Make your go-to response and rehearse it so you can say it without becoming too upset. Friends and acquaintances will naturally inquire, and we're assuming you won't want to lash out or cry every time one is raised. No matter how awful you're feeling, you need to keep your composure, behave professionally, and try to avoid doing anything that could damage your integrity or reputation. When talking about AT&T on social media, always maintain your professionalism.

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If you have questions about a potential AT&T surplus or would like more information you can reach the plan administrator for AT&T at p.o. box 132160 Dallas, TX 75313-2160; or by calling them at 210-351-3333.

Disclaimer: Securities offered through FSC Securities Corporation, member FINRA/SIPC. Investment advisory services offered through The Retirement Group, LLC. a registered investment advisor not affiliated with FSC Securities Corporation. *We are not affiliated with or endorsed by AT&T. This message and any attachments contain information, which may be confidential and/or privileged, and is intended for use only by the intended recipient. Any review, copying, distribution or use of this transmission is strictly prohibited. If you have received this transmission in error, please (i) notify the sender immediately and (ii) destroy all copies of this message. The Retirement Group, LLC is registered to conduct advisory business in the following states:  AZ, CA, CO, FL, ID, IL, IN, LA, MD, MI, MO, NE, NV, NJ, NY, NC, OK, OR, PA, SC, SD, TX, UT, VA, WA. Office of Supervisory Jurisdiction: 5414 Oberlin Dr #220, San Diego CA 92121 (800) 900-5867


Plan Administrator:
p.o. box 132160
Dallas, TX

*Please see disclaimer for more information