Pension Retirement Planning:  Verizon

Verizon’s pension and savings plans are a complex combination of plans from Bell Atlantic, NYNEX, and GTE.  Many Verizon managers struggle to understand which plan applies to each of their employees. And trying to figure it out using the outsourced services company was a nightmare. In addition to the variety of plans, Verizon uses several interest rates to determine the highest amount for a pension lump sum distribution cashout.  The rate chosen depends on the pension commencement month and management/associate status.  The table below lists the current interest rates.

2008/2009		PBGC	10- Year T-Bond	Quarterly GATT	Monthly GATT
	October	4.2%	4.25%	4.6%	4.6%
	November	3.9%	4.0%	4.5%	4.69%
	December	4.2%	3.75%	4.5%	4.57%
	January 2009	3.9%	3.75%	4.5%	4.5%

Source: Hewitt Management Company 9/23/08
It can be confusing to figure out when to retire and how much you’ll receive from Verizon.  How can you be sure you’re getting the right retirement planning information? Come to Hanson McClain for guidance.
•	Since 1993, Hanson McClain has specialized in the intricacies of telecom pension and savings plan.  We are experts with the pension and savings plans of Bell Atlantic and GTE.
•	We offer Verizon employees FREE regular educational workshops and consultations.
•	Hanson McClain provides a custom retirement planning tool, the Independent Personal Retirement Overview (IPRO®), designed specifically for telecom and utility employees.

Call us to help you understand your retirement options and plan your financial future.

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