I have now heard this rumor enough to feel confident to repeat it.
Salary buy outs are on the way.
55+ and 30+ and you are a candidate.
Finance Barbie wants people off the books.
Her glasses are too dark but I like her.
She is fairly authentic.
But still not sure how they spread that 19.6 billion around.
Stellantis binned it all in one year and gave UAW ZERO!
I think we got lucky and next year will be a *
I personally will take my 9 or 12 months and hit the road.
Good riddance.
Saves me retiring with only one days notice.
You don't have to give any notice by law so you know.
14 replies (most recent on top)
@f1 everything explained by the other day person and also you’ll have funds on hand that you can use to invest and grow how you see fit. I’m not sure of all the details of the payments but if they don’t factor in inflation then they’re definitely not worth it. This war is a deciding factor for the American petrodollar and if the bricks nations do move to Chinese yen for the petrodollar we could see the destabilization of the dollar that would place us on track for our currency and world power to bottom out.
@f1 beginning to understand how this country got itself in so much trouble. Folks don’t seem to u detest and the most basic of how things work including how our gvmt is supposed to work! pension has never been based on a third party. What you are likely referring to is the government backed fund that corporations can pay into that will support pensions if a company goes down. Ford pays into it so you have coverage but you will NEVER get your full pension amount if the step in. A number of factors determine how much they will pay but it will never be your full eligibility and in some cases has been Pennie’s on the dollar
@fn you clearly have no idea how this works. Ford does not just randomly decide the value of the lump sum. Laws and interest rates drive the calculations.
I've heard the buy out rumor too. I'm hoping it's true.
The covert packages they have been offering are not really voluntary. If you are pension eligible and have hit the years of service gate-age gate then when you are selected for termination the separation package is the same for voluntary/involuntary. A number of older SG8, LL6 and LL5 have been approached with the Say Edward you were going to retire soon right? Ok good we have decided to give you this opportunity to leave. Of course everyone knows that if Edward said No he was still getting the heave ho.
As for whether you should take the annuity, that is too varied. People who have longevity genes often take the pension if they have other assets like 401k, IRAs and brokerage accounts. They treat it like the bond component in their retirement portfolio.
@fn define ridiculously low? While they aren't as good as '22 by now the lump has regained quite a bit with the additional years of service. Will never get to the '22 levels but the financial advisors I have spoken with say to take the lump. Some people are afraid to take on investing the lump and want the monthly check bc it is simpler. Any specifics on why your advisor is saying to take the annuity?
@eg yes, can confirm. They've been covertly packaging pension eligible people since last year. The lump sum is ridiculously low. My financial advisor basically said it really made no difference and they were surprised to see such a low offering that really made people opt to the annuity. Thinking likely just typical Ford stupidity and it will take them a while to realize they are only adding to their pension people on their books instead of reducing and they will end up trying to approach people with buyout offers someday in order to just clear their books.
@eq Why take the lump sum. Is the retirement not now dependent on a third party?
@eg guess they didn’t learn from GM’s bankruptcy. Always do the lump sum, especially with all of the uncertainty.
@bs rates only come into play if one is taking a lump sum. I'm hearing that [lately] most people are taking the monthly payment.
If real, I am gone!
Nuff said.
If they want to lose the pensioners, just offer voluntary retirement like they used to and many would take the package. Current management made it clear that they won't do this so now many wait to see where the rates are headed
LOL. Wishful thinking. No buyout. Work hard or get out.
If this is true, anyone who has already announced pending retirement, will be pi---d that they missed out on this opportunity.