pmooret Posted August 29, 2018 Share Posted August 29, 2018 Cecilmeyer, I looked at mine and it would run 422 a month for 100% spousal benefits. Better take another look more carefully so that you don't get surprised. 1 Quote Link to comment Share on other sites More sharing options...
cecilmeyer Posted August 30, 2018 Share Posted August 30, 2018 (edited) Edited August 30, 2018 by cecilmeyer Quote Link to comment Share on other sites More sharing options...
cecilmeyer Posted August 30, 2018 Share Posted August 30, 2018 (edited) 100% Joint & Survivor Benefit - Spouse Option Effective On 10/01/2018 $2,961.52 $571.07 $2,390.45 $1,429.24 Effective On 03/01/2028 $1,429.24 $1,429.24 $0.00 $1,429.24 It will cost me $209.00 for my wife to receive $1429.24 a month upon my death. This is from the benefit calculator on the Myfordbenefits site. At the time I have 30.3 years. Edited August 30, 2018 by cecilmeyer Quote Link to comment Share on other sites More sharing options...
cecilmeyer Posted August 30, 2018 Share Posted August 30, 2018 Cecilmeyer, I looked at mine and it would run 422 a month for 100% spousal benefits. Better take another look more carefully so that you don't get surprised. I think age is a factor in the cost of the benefit. I am 52 Quote Link to comment Share on other sites More sharing options...
Decker Posted September 4, 2018 Share Posted September 4, 2018 (edited) Dam Cecil you be just a young pup Everything is a scale when it deals with Ford paying us anything. Age or more to the point "years of service" is one of the factors of your monthly pension benefit check. The other factor is your LIB, life income benefit. All those big old lump sum checks instead of those little 3% hourly increases have but a freeze on your LIB to the point someone retired 14 years ago got the same LIB you will be getting today. Nice deal, right? The scale for your LIB is based on your hourly rate. Your hourly rate is in a dollar amount span and that equals your LIB. My LIB is listed as $54.03 (close, I`m getting old and forgetful) because my hourly rate is that of a repair classification. So I multiply that LIB $54.03 times the other factor "years of service" annnd there you have you monthly pension benefit check. "gross" no not the total of the check, but with no taxes or deductions with held. Then there is the scale you plug your total (gross) pension benefit check into and you`d get the deduction for 100%, 75% or 50% etc.. survivor benefit deduction. My deduction for 100% is about the same as pmooret at $419 give or take. Ok Ok I`ve heard over the years "I GET' this and "I GET" that much but just plug in $54.03 and 30 years then see why some people say GROSS when they see the $1801.00 pop out of your calculator... Now in your case Cecil being that 52 years old and having 30 years of service you`d get that $1801.00 and a bridge benefit of about $1100.00 for a total monthly benefit of $2901.00. Then when you hit 62 guess what? the bridge caves in and you are told hey!!! just sign up for S.S. and all will be just fine again. Butttt they won`t tell you about he 24% cut from full S.S. benefits you will get chopped off from day one and last till you don`t breath anymore. But everything will be fine cause they say so Edited September 4, 2018 by Decker Quote Link to comment Share on other sites More sharing options...
pipefitter1 Posted September 4, 2018 Share Posted September 4, 2018 If you are single are divorce and with children who gets the Survivor benefits? IUAW will never ever let that money go. So no lump sum payout will ever happen. $$$$ Quote Link to comment Share on other sites More sharing options...
Decker Posted September 4, 2018 Share Posted September 4, 2018 If you are single are divorce and with children who gets the Survivor benefits? IUAW will never ever let that money go. So no lump sum payout will ever happen. $$$$ If your spouse, same sex partner or common law is covered by your decision to provide 100% survivor benefit and you have that $400 deduction going on from the day you retire and 5 years into your retirement, your spouse, same sex partner or common law passes. Just like any insurance policy that $4800 a year is gone without any return, payout. So it would be more of a better business decision to opt for a joint life insurance policy and G-d forbid either passes the other gets a check. Also unlike the survivor benefit a life insurance policy can be listed to benefit children and etc. Quote Link to comment Share on other sites More sharing options...
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