Do my pension payments start after my severance pay? Also, what is the formula? Does it include just base salary or my bonus too?
3 replies (most recent on top)
The formula for pension is very complex and you need to use the Ford Benefits website to calculate it. You can simulate being let go today or any day in the future. The pension only uses base salary.
You can look at severance as a bonus in this situation. Pension can start when you want on 1st of next month. You will be taxed accordingly however.
Sorry to hear this...... did they have you sign something? Did you expect this?