For more information regarding Lucent' 401(k) matching program, contact your HR department. 

Sponsored Ad

Before rolling over your 401(k), take stock of the broader benefit structure Lucent has in place for you. A central element of your benefits is that Lucent maintains a defined benefit pension plan that has been frozen to new benefit accruals -- meaning the plan no longer accumulates future benefits for most employees, but those who were already vested may still be entitled to receive the pension benefit they accrued prior to the freeze, subject to the vesting requirements described in their plan documents, so the plan no longer accumulates future benefits for most employees, but those who were already vested may still be entitled to receive the pension benefit they accrued prior to the freeze, subject to the vesting requirements described in their plan documents, meaning the plan no longer accumulates future benefits for most employees, but those who were already vested may still be entitled to receive the pension benefit they accrued prior to the freeze, subject to the vesting requirements described in their plan documents, so the plan no longer accumulates future benefits for most employees, but those who were already vested may still be entitled to receive the pension benefit they accrued prior to the freeze, subject to the vesting requirements described in their plan documents. Lucent does not appear to offer a formal retiree healthcare program, making healthcare coverage planning an important consideration if you retire before age 65. Tying your Lucent benefits into a unified retirement income strategy - where every component works together - provides the clearest view of your financial future.

Sources:

“UPDATE: Lucent Cuts Capex Again by $1.6B, Curtails Production | S&P Global Market Intelligence.” Essential Intelligence to Make Decisions with Conviction | S&P Global, 16 Apr. , https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/update-Lucent-cuts--capex-again-by-1-6b-curtails-production-58062763.

Tretina, Kat. “What To Do If Your Employer Suspends 401(k) Matching Contributions.” Forbes, Forbes, 10 Apr. , https://www.forbes.com/sites/advisor//04/10/covid-19-employers-suspending-401k-matching-contributions/#7a48068b285f.

“The Retirement/Transition Guide for Lucent Employees.” The Retirement Group, The Retirement Group, 11 Aug. , https://energy.theretirementgroup.com/conoco-phillips-educate

Business, Matt Egan, CNN. “Verizon’s Alternative to Layoffs: Retraining 20,000 Workers – CNN.” CNN, CNN, 14 July , https://www.cnn.com//07/14/business/verizon-jobs-ceo-hans-vestberg/index.html.

Blanton, Kimberly. “More Cuts to 401(k) Matches Are Coming – MarketWatch.” MarketWatch, MarketWatch, 6 Aug. , https://www.marketwatch.com/story/more-cuts-to-401k-matches-are-coming--04-16.

Kelly, Jack. “Companies In Their Cost Cutting Are Discriminating Against Older Workers.” Forbes, Forbes, 3 Aug. ,

Noe, Eric. “After Verizon, Are Pension Freezes on the Way? – ABC News.” ABC News, ABC News, 16 Dec. , https://abcnews.go.com/Business/story?id=1378711.

https://www.forbes.com/sites/jackkelly//08/03/companies-in-their-cost-cutting-are-discriminating-against-older-workers/#72017abd4436.

“Pension Lump-Sum Payment Windows Are Back.” The Retirement Group, The Retirement Group, 11 Aug. , https://retirekit.theretirementgroup.com/pension-lump-sum-payment-windows-are-back-e-brochure

https://www.reuters.com/business/energy/exxon-plans-reinstate-employer-401k-match-oct-1--07-02/