What's coming in the next CONTRACT 2019??

[cecilmeyer]

Ford is considering it to cut Legacy costs, but as with what GM did for their salary workers, it would be based on every individuals age, years of service and expected life expectancy to figure out a pension buyout conversion to 401K. If you are age 50 with 30 years in, you might live another 35-40 years, so your buyout payoff would be much higher than someone that's age 66 with 30 years in. They also have access to our medical records and they would factor in family medical history to give lower payoffs for workers who have cancer and heart issues running in their families. As with someone with 20+ years in, I would like to have the opportunity to consider a pension buyout conversion to 401K, because if Ford goes bankrupt, I lose my pension. The money in the fund only goes to the workers fully vested until it runs out. Because you would then only have a 401K, you could leave it to anyone you wanted if you died, instead of just half to a surviving spouse with a pension. Pensions are going the way of the dinosaur very quickly. The Carpenters pension fund just announced they are cutting everyone down to $1,500 a month. Most pensioners will get cut 50-60 percent per month. We have to seriously look at that and know it could happen to us. If you convert your pension to a 401K, it's all yours and controlled by you. You are at the mercy of the stock market, but not by a greedy company anymore.

I thought the stock market was greedy companies? LOL

[deflep1]

I thought the stock market was greedy companies? LOL

Some are, some aren't, but at least you get to pick your future and not leave it in the inept hands of Ford!

[deflep1]

Ford does not have access to your medical history without YOUR written premission. Your whole post is all bullshit anyway.

Not according to Obamacare. The IRS is in charge of making sure you are paying for coverage (or your employer) and they DO have access to your records. The company who supplies your healthcare is required to share their medical files with the IRS. Any medical treatment (check ups / injury / rehab) you get at work opens up the company's access to your records to check your history in order to treat you properly. Ask GM salary employees who got offered the pension buyout why some workers with the same age and number of years of service got completely different offers. If you were healthy, you got offered a lot more money than workers who had previous illnesses or just had a family history of illness. If they offer us a pension buyout, there could be a minimum base for years of service, but unless the union can successfully negotiate a set of rules for it, the company will give less to older and ill workers, and more to younger and healthier workers. It's an individual offer with risk assessment figured in just like life insurance companies do for policy prices.