I was referring to the hourly master agreement language. This part of the hourly contract is never really discussed much at all. As for the salaried contracts I`m not familiar with all the different agreements that Ford has in place. Paint Guy may be able to give some good insights on the salaried benefits.
The 25% is reduced at the time of separation and is based on the age of the individual requesting the benefit. There is a chart in the master agreement that shows a graduated scale of benefit reductions. To a large number who didn`t ask or understood there was another eye opener at age 62. First the full pension benefit does not kick back in at age 62. Then the bridge benefit that is sold as a helping income till a person applies for SS just stops at age 62. The bridge benefits in most cases is equal or very close to the pension age reduction. Reduce a benefit then give an income benefit called a bridge for about the same percentage can be seen as a masking of the long term benefit. Then as so many people do when the first month of pension benefit shows this reduction people jump to sign up for SS. Then there`s a SS reduction that is another eye opener, yep start SS benefits at 62 and yes another age reduction. In my case it is another 20 to 25 percent of the monthly SS benefit.
Doing the projections on the reductions in income over the average male life span, all I will say is its a very large loss of income. The loss in income is something that will never be recouped. Yes my statements are based on separation date plus age of beneficiary, against full pension and SS benefits without age penalties.
I hope the situations you have to look at are clearer than the hourly benefits are. Bridge benefit is income but it masks the loss of income that many have no idea are going to kick in place with their age, hopefully you can work around any loss.
There is so much dumbshit in this thread. A lot based on opinion or speculation. Rperez with ,this is the savior technology and GM will win and Ford is behind, right on cue. Then others automatically poo poo it.
Much like any other electric pick up, it doesn't exist yet. Tesla doesn't have one. GM doesn't have one. RAM for sure doesn't have one. We know Ford has a prototype that's it. All other makes are just vaporware, which leaves us speculate on how it will do. This all smoke and mirrors folks. Let's be honest, we don't know how it will do. I think rich people could buy it but if the Tesla has a better truck they may buy that. Who knows.
GM admits that it doesn't exist yet, and someone pointed out that happened to the Bronco as well. Well, Ford knocked the Bronco out the park. Do you realize how many opportunities Ford had to blow it? A lot, and that's a rare thing to be able to pull it off. I mean just think if the Sport was the only Bronco we got! I have no doubt this tech will trickle into Silverado in 2026-28 or so but me personally, have little faith in GM in the luxury market. This is the company that spent tens of billions on 3 sedans to chase BMW, neglecting there was too much overlap and sedan sales were tanking to SUV's. However, I will wait to pass judgement so get back to me whenever it comes out.
You my recall I posted pix of a 650 chassis that was at a local dealer that had a 7.3.. Looked like an 84" CA that would be typical for a dump application. I had stopped in as I was curious as to how a 7.3 looked from a serviceability question. I'm of same opinion as you and figure this motor will be a homerun with a large percentage of class 6/7 buyers. I mentioned this to the commercial sales guy and he said he had a guy drive buy the dealership- saw trucks on lot and stopped in. A true "cold call". Guy was a high end residential builder-around here that means north of a million. Dealer also had a 750 Power Stroke-ready to go with body. Long story short, after driving both, the guy paid $15,000 more for the 750. He liked the "diesel power"-as well as it had air brakes and was black, Alcoas and a lot of chrome.. Now this is a guy that IMO could really get by with a 7.3. A truck like that is more of a convenience rather then a front line unit that runs 8 hours a day. But again, money was no object.
Thank you @paintguy and @Decker
thats really helpful
I am salary and started at Ford in 2000 and that’s when I started GRP also.
How did you calculate the 25 percent? From doing projections and then taking a percent base on separation date vs full retirement date?
For those not planning to stay 30 years (or don’t get an offer) seems the health benefit is not available, correct?
seems like the FRP (That became available for those hired after 2004) is actually a better benefit, unless I’m missing something?
I don’t fully understand how much ford pays into our pension but understand that we can’t access it until we’re retirement age. I assume if I leave in my 40s, I’d be eligible at 55?
The CNBC article quoted Bank of America analyst John Murphy who said "GM has been a hotly debated stock for years, but we believe the fundamental Core to Future transition underway at the company remains underappreciated by most investors." Also the article said "no major research firms have upgraded their ratings yet".
So regarding investor confidence in GM it's neither "nope, not a chance" prior to Tuesday's Hummer EV debut, nor "they're good to go, that's the thing to invest in" after. Just one step in the right direction for the company's BEV strategy, and something that brought the stock into positive territory YTD and last 52 weeks.
They just don’t want friends and families in on the discounts. In the light of the massive response, Ford is making a lot more Broncos in the first year than it expected, surely there is some room for Ford to move on this.