Shiz Posted February 1, 2006 Share Posted February 1, 2006 does anyone know what the packages are ???? and is one a lump sum payment or do you have to take the money spread out over time???? Thanks Quote Link to comment Share on other sites More sharing options...
the_wizard Posted February 1, 2006 Share Posted February 1, 2006 (edited) does anyone know what the packages are ???? and is one a lump sum payment or do you have to take the money spread out over time???? Thanks there are four types 1. for people with 30 years of service or more $35,000 to retire with full pay and benifits 2 Bridge for people with 28 years of service but under 30 . 85% of your base wage till you get thirty years of service then you are automaticly retired with full benifits.( don't forget full benifit of any employee during this time blue cross and shield plus full ETAP for the time left . 3 $100,000 ( before taxes and yes one lump sum) cash for a complete VETP buy out no recall rights and you're gone 4 4 years of college with $15,000 per calendar year toward college, Fifty percent of your base wage, blue cross and blue shield for four years plus life insurance and the "A" plan. Then you're gone terminated. If you get called up to duty in the reserves or if you're injured this can be suspended until such time as you are able to return to college and then you would get the balance of your time coming to ya. Edited February 1, 2006 by the_wizard Quote Link to comment Share on other sites More sharing options...
Glory_dayzd Posted February 1, 2006 Share Posted February 1, 2006 How long before they shut the plant down will they tell us about these packages? Also, the guys who take the 100k buy-out will still be eligible for their vested pension when they reach 62? Some have asked. We still don't know for sure when they are shutting down AAP. We are not getting anyi nfo about anything yet. Quote Link to comment Share on other sites More sharing options...
thor34 Posted February 1, 2006 Share Posted February 1, 2006 I work at AAp and Iam being told that it will be Aug 28How long before they shut the plant down will they tell us about these packages? Also, the guys who take the 100k buy-out will still be eligible for their vested pension when they reach 62? Some have asked. We still don't know for sure when they are shutting down AAP. We are not getting anyi nfo about anything yet. Quote Link to comment Share on other sites More sharing options...
YNOT1976 Posted February 1, 2006 Share Posted February 1, 2006 How long before they shut the plant down will they tell us about these packages? Also, the guys who take the 100k buy-out will still be eligible for their vested pension when they reach 62? Some have asked. We still don't know for sure when they are shutting down AAP. We are not getting anyi nfo about anything yet. Yes, you are still eligible for your vested pension...But that's it. No benefits/Z Plan at age 62. Quote Link to comment Share on other sites More sharing options...
pant load Posted February 1, 2006 Share Posted February 1, 2006 (edited) If you still get the pension at 62 the 100K doesnt sound too bad. The y way things are going the medical probably wont be there anyhow Edited February 1, 2006 by pant load Quote Link to comment Share on other sites More sharing options...
mhopfenzitz Posted February 1, 2006 Share Posted February 1, 2006 If you still get the pension at 62 the 100K doesnt sound too bad. The y way things are going the medical probably wont be there anyhow Anyone know what the pension will be if you have 12 years in. Quote Link to comment Share on other sites More sharing options...
YNOT1976 Posted February 1, 2006 Share Posted February 1, 2006 Anyone know what the pension will be if you have 12 years in. I believe you can find this information on your last year's summary statement that the company supplied you with. Quote Link to comment Share on other sites More sharing options...
Twincam Harley Posted February 1, 2006 Share Posted February 1, 2006 Anyone know what the pension will be if you have 12 years in. Besides your benefit summary, you can also go to www.netbenefits.com and view your service credits, pension info and TESPHE account information. Quote Link to comment Share on other sites More sharing options...
mhopfenzitz Posted February 1, 2006 Share Posted February 1, 2006 Besides your benefit summary, you can also go to www.netbenefits.com and view your service credits, pension info and TESPHE account information. Thanx, it's 629.00 per month, in case others have the same question Quote Link to comment Share on other sites More sharing options...
oldasdirt Posted February 2, 2006 Share Posted February 2, 2006 How long before they shut the plant down will they tell us about these packages? Also, the guys who take the 100k buy-out will still be eligible for their vested pension when they reach 62? Some have asked. We still don't know for sure when they are shutting down AAP. We are not getting anyi nfo about anything yet. Dont know about AAP but SLAP still has not recieved the info other than them saying packages will be available We will be getting the info when we go back from TLO the week of Feb 20th and our final day of production is March 8th So if I were you I wouldnt worry about them right now,just take care of your buisness at hand. Quote Link to comment Share on other sites More sharing options...
Twincam Harley Posted February 2, 2006 Share Posted February 2, 2006 Even though packages have yet to be offered to us at SLAP, I have some questions regarding the education package that was offered to the Edison folks that they could possibly answer for me and others that have a possible interest in this package: 1) If you take this package, how soon must you enroll in training? Some programs wouldn't start until Fall so I'm real curious about this. If you started in the Fall, would you collect SUB until classes started and then get the 20 hour/week check? 2) With the full course load requirement, does that mean you have to go through the summer too or is fall and spring semesters considered full time per the language if you take what is considered full time credit hours? 3) Once you accept this package, do you give up any rights to transfers that might become available while you are in training? 4) When does the 20 hour pay per week actually end? 4 years from the date of entry, when you get a degree, etc...? 5) If one were to enroll in a 2 year technical program and graduate with a degree, are you able to then follow that with a two year associates degree from another institution or another 2 year technical program to maximize the 4 year benefit? 6) What happens if you become ill or are seriously injured while enrolled in training? Wondering if anyone had these same questions when the packages were presented to the Edison GEN people and whether you got good answers to them. As you know when it comes time to ratify a new contract, we only get the highlights but rarely the fine print. How well have the plan details been communicated or are you on your own for asking questions? At this point, it would seem most 28+ seniority people will opt for one of the retirement packages if they're ready to get out. The $100K buyout would be good for those just ready to move on and feel they can find a decent paying job to sustain themselves or maybe start their own business. For everyone else, it's either the education package or just roll the dice and see if transfers become available before the end of the contract or to see if there will be any kind of job protection language in the next agreement. Although unlikely, it depends on what the UAW can pull off for people stuck in the middle seniority wise. Hard to walk away with 18 years for $58K after taxes and immediately lose the medical benefits. Going right to $27K yearly gross with the education package (I figure that's about $400/week after taxes) is tough since I bet that doesn't pay most people's house and car payments, let alone any other necessities. Quote Link to comment Share on other sites More sharing options...
Glory_dayzd Posted February 2, 2006 Share Posted February 2, 2006 Dont know about AAP but SLAP still has not recieved the info other than them saying packages will be availableWe will be getting the info when we go back from TLO the week of Feb 20th and our final day of production is March 8th So if I were you I wouldnt worry about them right now,just take care of your buisness at hand. Wow, two weeks before closing. That is close... Quote Link to comment Share on other sites More sharing options...
butthead Posted February 2, 2006 Share Posted February 2, 2006 Sounds par for the course. I bet if senior management had this decision they would have all the facts up front so they could make a wise economic decision. This is another reason not to trust these people with anything. They have no heart and they dont care what you do. Just go!!! Heres a question to add to your list. What happens if you dont maintain the C average or find that it to hard to live on 400 per week and go to school full time. Can you work and go to school. What happens if you have to drop out for any reason, are you toast. Quote Link to comment Share on other sites More sharing options...
Higgins Posted February 2, 2006 Share Posted February 2, 2006 there are four types Nope, there are 5. You left out "Special Early Retirement"- 55 years old with at least 10 years seniority. When your plant closes, they lower the age to 50 and there is no reduction of Life Benefit based on your age. See page 151-2 in the "Your Employee Benefits" book (yellow cover edition, 2003). Also, the $100,000 deal in called STEP (no longer VTEP) Special Termination of Employement Program. Quote Link to comment Share on other sites More sharing options...
YNOT1976 Posted February 2, 2006 Share Posted February 2, 2006 (edited) Even though packages have yet to be offered to us at SLAP, I have some questions regarding the education package that was offered to the Edison folks that they could possibly answer for me and others that have a possible interest in this package: 1) If you take this package, how soon must you enroll in training? Some programs wouldn't start until Fall so I'm real curious about this. If you started in the Fall, would you collect SUB until classes started and then get the 20 hour/week check? **You have to enroll in the next available semester, you do not collect SUB until the classes start. You get a check for your reduced yearly salary up front. 2) With the full course load requirement, does that mean you have to go through the summer too or is fall and spring semesters considered full time per the language if you take what is considered full time credit hours? **You do not have to go to school in the summer. You have to take 12 credits per semester. Fall/Spring 3) Once you accept this package, do you give up any rights to transfers that might become available while you are in training? **Yes, you give up rights to transfers. You are no longer considered an employee once the paperwork has been accepted. You will continue to have benefits, but nothing else. 4) When does the 20 hour pay per week actually end? 4 years from the date of entry, when you get a degree, etc...? **4 years from when you enroll in the program 5) If one were to enroll in a 2 year technical program and graduate with a degree, are you able to then follow that with a two year associates degree from another institution or another 2 year technical program to maximize the 4 year benefit? **Yes, you can do this as long as they are both accredited college, trade schools, university,etc. Also, if you have already started your education and would not need the whole 4 years to complete it. Say you could finish what you started in a year or two. You can then request the buyout. Which you will get the remainder of the $100K less whatever monies you have received already. But your benefits would then be gone after that. 6) What happens if you become ill or are seriously injured while enrolled in training? **Not sure on this one. Wondering if anyone had these same questions when the packages were presented to the Edison GEN people and whether you got good answers to them. As you know when it comes time to ratify a new contract, we only get the highlights but rarely the fine print. How well have the plan details been communicated or are you on your own for asking questions? **Ask every question you have. The only dumb question is the one not asked. Don't rely on Ford or the union to supply you with all info. At this point, it would seem most 28+ seniority people will opt for one of the retirement packages if they're ready to get out. The $100K buyout would be good for those just ready to move on and feel they can find a decent paying job to sustain themselves or maybe start their own business. For everyone else, it's either the education package or just roll the dice and see if transfers become available before the end of the contract or to see if there will be any kind of job protection language in the next agreement. Although unlikely, it depends on what the UAW can pull off for people stuck in the middle seniority wise. Hard to walk away with 18 years for $58K after taxes and immediately lose the medical benefits. Going right to $27K yearly gross with the education package (I figure that's about $400/week after taxes) is tough since I bet that doesn't pay most people's house and car payments, let alone any other necessities. Edited February 2, 2006 by YNOT1976 Quote Link to comment Share on other sites More sharing options...
Higgins Posted February 2, 2006 Share Posted February 2, 2006 (edited) Even though packages have yet to be offered to us at SLAP, I have some questions regarding the education package that was offered to the Edison folks that they could possibly answer for me and others that have a possible interest in this package: Wondering if anyone had these same questions when the packages were presented to the Edison GEN people and whether you got good answers to them. As I understand it, NO ONE took this deal at Edison (60+ people took one of the other packages). There were some questions about it but this round of "packages" was very light on printed material- the one handout they had BEFORE the window was a questionaire, so you had to hand it back in. When the packages opened, most of the good, specific info was via slide show, video and Q&A (i.e., going by that classic UAW motto "Don't write nothin' down- they'll just come back with it later to prove you lied".). The fact that Ford's PR machine worked this Education deal (articles in the Wall Street Journal, carried by the AP and filmed interview on CNBC) it sort of underlines the fact that both the International Union and Ford management are stuck in a "top down" mentality, deciding, without any rank & file input, on what people want/need rather than ASK people. The $100,000 deal pissed off many people, as well- the worker with 10 or 15 years seniority but under the age of 50 felt being offered the same deal as someone with "1 year seniority (of course, NO ONE in Edison GEN has one year, since the plant's closing was 2/04)" wasn't fair. Edited February 2, 2006 by Higgins Quote Link to comment Share on other sites More sharing options...
the_wizard Posted February 2, 2006 Share Posted February 2, 2006 Nope, there are 5. You left out "Special Early Retirement"- 55 years old with at least 10 years seniority.When your plant closes, they lower the age to 50 and there is no reduction of Life Benefit based on your age. See page 151-2 in the "Your Employee Benefits" book (yellow cover edition, 2003). Also, the $100,000 deal in called STEP (no longer VTEP) Special Termination of Employement Program. yes that is true i missed that one thanks for the correction Quote Link to comment Share on other sites More sharing options...
jshep Posted February 2, 2006 Share Posted February 2, 2006 there are four types 1. for people with 30 years of service or more $35,000 to retire with full pay and benifits Mr Wizard, I posted this on another thread but thought I'd put it here too. ....Got any idea when these packages will be offered and to whom?.......I work at NAP and just got 30 years. I plan to retire at the end of the year but would take this $35,000 package and leave tomorrow if they offered it to me........ Quote Link to comment Share on other sites More sharing options...
oldasdirt Posted February 2, 2006 Share Posted February 2, 2006 Mr Wizard, I posted this on another thread but thought I'd put it here too. ....Got any idea when these packages will be offered and to whom?.......I work at NAP and just got 30 years. I plan to retire at the end of the year but would take this $35,000 package and leave tomorrow if they offered it to me........ I dont think you will get a shot at them until all the plants on the closing list gets them-if there are any left Quote Link to comment Share on other sites More sharing options...
the_wizard Posted February 2, 2006 Share Posted February 2, 2006 Mr Wizard, I posted this on another thread but thought I'd put it here too. ....Got any idea when these packages will be offered and to whom?.......I work at NAP and just got 30 years. I plan to retire at the end of the year but would take this $35,000 package and leave tomorrow if they offered it to me........ I sent you a PM check your messages ;-) Quote Link to comment Share on other sites More sharing options...
Goober Posted February 2, 2006 Share Posted February 2, 2006 I sent you a PM check your messages ;-) I also work at NAP and am in the same boat as jshep, just got my 30 years in and am planning to retire this year but waiting to hear about buyouts. Any knowledge of whats to come? Quote Link to comment Share on other sites More sharing options...
Me@Wixom Posted February 2, 2006 Share Posted February 2, 2006 Number 5 "Special Early Retirement " Over 55 with over 10 years senionrity and your a workers comp case too .How will this work in this package ? Any info ? Thank You. Quote Link to comment Share on other sites More sharing options...
tonyhatesbuffalo Posted February 3, 2006 Share Posted February 3, 2006 why does it matter if a person as 30 years or one year service, YOU ARE LOSING YOUR JOB!! what should piss you people off is that you have no job. that is the reason why this UAW union is no longer powerful because you people see yoursleves as individuals and not a team. there is no difference between an unemployed person no matter what there age or seniority. Quote Link to comment Share on other sites More sharing options...
waiting Posted February 3, 2006 Share Posted February 3, 2006 Any idea of what people were taxed on the 100,000? Quote Link to comment Share on other sites More sharing options...
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