Support
T-Mobile’s total compensation is complicated. That complexity creates opportunity!
Below are some resources for T-Mobile support (usually salaried) employees.
The six weeks starting mid-February is important for many T-Mobile employees
Most of the variable compensation is paid or determined then:
bonsues (short-term incentive plan) and annual merit increases (raises) are both announced and paid February
some of the Restricted Stock Units (RSUs) vest in February
additional RSUs are granted in February
the larger of the two Employee Stock Purchase Plan (ESPP) purchases occurs in early April
What is T-Mobile’s After-Tax plan?
T-Mobile offers an After-Tax plan which isn’t Roth. This plan has much higher limits and can be a way for employees who’ve maxed out their other options to save even more.
For 2024, the defined contribution limit is $69,000. That cap includes all contributions from both employer and employee.
Example
Jen contributes $23,000 to her 401(k)
T-Mobile matches $10,000
Jen could contribute $36,000 to her After-Tax (not Roth) account
For more, check out:
Contribute to Pre-Tax or After-Tax?
What are some Paid Time Off (PTO) considerations for support employees?
Each department has an annual work cycle. Financial Planning & Analysis is heaviest in the fall. It’s also best to take PTO mid-month.
The first quarter is a tough time for Accounting to take vacation.
Taking time off when coworkers do as well can make PTO feel less like “get behind days.” Many departments take time off during:
mid-winter or spring break,
summer, and
holidays.
How does a T-Mobile employee fund their children’s education?
Very few people can pay up to $85,000 per child each year for college from their cash flow. It’s worth considering the all-in cost of each college before applying:
in-state tuition,
out-of-state discounts like the Western Undergraduate Exchange,
community college,
Advanced Placement® / International Baccalaureate®,
merit scholarships, and
need-based financial aid.
The Free Application for Federal Student Aid (FAFSA®) may be an important step. Also, colleges provide Net Price Calculators to help families estimate their potential cost of attendance.
How can T-Mobile employees best combine finances with a life partner?
Some people think combining finances is like a light switch:
either combined or separate.
However, it’s more like a dimmer with infinite options.
The most important thing is that each person feel comfortable with how they share their finances.
For more, check out: Combining Finances Is Like a Dimmer Switch.
T-Mobile’s benefits are robust.
Do estate taxes matter for T-Mobile support employees?
Estate tax thresholds are much lower than the federal limit in many states - especially those in the Pacific Northwest:
Washington taxes estates over $2.193 million
Oregon taxes estates over $1 million
It may be worth exploring options to reduce estate size so more money goes to intended beneficiaries and causes.
For more, check out:
Will You Owe Estate Tax?
Kevin Estes is a financial planner helping T-Mobile employees and their families live their best lives.
He worked in T-Mobile Financial Planning & Analysis for nine years. Kevin received a certificate in financial planning, passed the CERTIFIED FINANCIAL PLANNER™ exam, and founded Scaled Financed in 2022.
