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lump sum buy outs for salaried retirement is hourly next?


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I would say anyone at the tier 1 payscale will be eligible and then it would go to years of service one would think. You figure the average take home is $35k per year retirement before 62 then it goes to half that....so lets say for argument purposes...average between 18k and 35k required by Ford until your death...or a percentage of that to your spouse if you opt for that. I'd say if the company offered 15-20k per year of service at the time of the offer it would more then make sense for an active worker to take it. Alot will depend on what was you can take the buyout in form of rollovers...and how much the union wanted to dip their hand in the our pockets.

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I plan to live a real long time, so I doubt they will offer enough, my neibor is 92 yrs old, he put in 38yrs at Fords, he has been collecting his pension for 32 yrs, i bet if his pension was bought out back then he would be eating dog food by now. I know thats not the average but I want a garenteed income when I retire, should I die just a few yrs after retirement im sure I'll be leaveing some bucks on the table, course i doubt i'll care much then.

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  • 3 weeks later...

It makes sense for Ford to look into this...anybody that gets off the books is a large benefit to Ford and it's stock holders. I personally would much rather run my own retirement and know what my money is doing and that it will be there and with the way our retiree's are getting screwed at every contract...it's a great idea to me. If the money is right I would be in immediately. On top of that...the average retiree lives about 18 months after retirement before passing...money up front means that money is still there when you pass for your wife or kids. The best thing of all is when your Social Security kicks in your pension is reduced in half....now you still get your social security and you retain all the pension. But the money has to be right....and that's the big issue.

 

According to life insurance actuaries, average life expectency from birth is about 80 years. If you make it to 60, your life expectency is about 85 years. Whoever came up with the idea that you die 18 months after retirement is full of shit. It is just another ploy to brainwash senior workers into retirement. The government needs people to work longer. People need to put their lives into perspective and forget about the false pie in the sky of living off a company and government pension for up to 30 years or more. It ain't going to happen. There is inflation and the power of the workers to take away pension money, and they will as pay-back for cutting their wages and benefits.

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You don't really think the membership would agree to have the I-UAW take over control of pensions after the VEBA do you? Day one of the International union taking over there was a benefit reduction, and even union controlled pensions are not secure. MEBA, and AMO's pension funds were controlled by the unions, and both were slammed with the fallout from bad investment, and are currently underfunded. Good luck selling that Iceburg to the Eskimos!

 

Look at this last contract, throw just enough money at these buffoons and they'll vote yes on anything.

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It makes sense for Ford to look into this...anybody that gets off the books is a large benefit to Ford and it's stock holders. I personally would much rather run my own retirement and know what my money is doing and that it will be there and with the way our retiree's are getting screwed at every contract...it's a great idea to me. If the money is right I would be in immediately. On top of that...the average retiree lives about 18 months after retirement before passing...money up front means that money is still there when you pass for your wife or kids. The best thing of all is when your Social Security kicks in your pension is reduced in half....now you still get your social security and you retain all the pension. But the money has to be right....and that's the big issue.

 

Eighteen months, ay. Well, if that's the case, I'm either ahead of the curve or living on borrowed time. I've been retired for 12 yrs now and still going strong. But as you said, the money has to be right. It would take some hard thinking and figuring to see if it would be worth it.

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