AT&T Notifies the Union of New Pension Plan Options for AT&T Retiree Savings Plan (ARSP)

AT&T has issued a new Summary Plan Description with changes that affect members in the  AT&T Core Contract. Click Here for a copy of the new ARSP SPD.      • Effective Jan. 1, 2015, Participants who have less than three years of service will be eligible to exchange (or transfer) up to 100 percent of the Company Match out of the AT&T Shares Fund. (In the past only vested employees with more than 3 years could diversify in this manner.) • Effective Jan. 5, 2015, you will have access to new services from Financial Engines Advisors L.L.C.The investment management service offered by Financial Engines provides additional web-based tools to assist participants with savings plan asset allocation and retirement planning projections. Participants will also be able to enroll in an investment advisory service, which allows Financial Engines to manage participants’ savings plan accounts. Enrollment in the investment advisory service is voluntary, and participants enrolled in the investment advisory service will be assessed a quarterly fee based on their saving plan balance. These services will be integrated into the Fidelity NetBenefits web experience. Participants will receive communications about this new service in the November/December 2014 timeframe.  • The Beneficiary Designation rules for the Plan have been incorporated into the SPD as setforth below.