AT&T Surplus/ Mitigation Agreement Q&A
February 4, 2011- Since the announcement of the Surplus declared by AT&T and the subsequent Surplus Mitigation Agreement reached between IBEW Local Union 21 and AT&T; employees have raised some good questions.
Per the MOA-Surplus Mitigation and Article 30.28, you will receive compensation for any remaining vacation days, Excused Work Days, and Floating Holidays.
Article 30.27 of the collective bargaining agreement contains your rights. In summary, it provides three options: (1) One-half of the total amount paid as a lump sum within thirty (30) days after leaving service and the remaining half in monthly amounts of Six Hundred Dollars ($600.00) beginning within thirty (30) days after leaving service and continuing until the total amount has been paid; (2) As a lump sum within thirty (30) days after leaving service or (3) in Twelve (12) equal monthly payments.
The Service Anniversary and Retirement Award Programs Policy (HROneStop 4.2. Retirement Award Eligibility) contains your rights. In summary if you retire with a service or disability pension you are eligible for a party. You have up to six (6) months, beginning on the actual retirement date (first day off payroll) in which to hold the party or it will be forfeited.
Payments should begin within 30 days after leaving service, as outlined in Q&A 3 above.
SIPP is established in Article 30.26, which provides a cap of $30,500. The OTSSP is a one-time payment of $47,500 in lieu of any other payment provided in Article 30.
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