driveshaftgrunt Posted November 11, 2006 Share Posted November 11, 2006 If someone over 12 years takes the cash option, what happens to their retirement? If you are vested, do you still get to collect the lesser amount once you reach retirement age, or are you giving that up the day you take the $65,000 check? Thanks, and again I know I should know this. Quote Link to comment Share on other sites More sharing options...
fmccap Posted November 11, 2006 Share Posted November 11, 2006 I believe you cut all ties. Quote Link to comment Share on other sites More sharing options...
driveshaftgrunt Posted November 11, 2006 Author Share Posted November 11, 2006 Anybody got the hotline # or website for buyout questions? I'm trying to find it now, but its on my desk................and my desk IS A WRECK Quote Link to comment Share on other sites More sharing options...
keeptrukin Posted November 11, 2006 Share Posted November 11, 2006 SEPERATION HOTLINE # 313-322-7795 EDOPP AND FEDOPP # 248-932-2490 Hope this helps also I believe you still get what you have vested when you get to retirement age. Call the number and find out for sure. Quote Link to comment Share on other sites More sharing options...
Quickdraw Posted November 11, 2006 Share Posted November 11, 2006 Yes, you still keep your earned pension when you are of age... Quote Link to comment Share on other sites More sharing options...
uRfk9AcDfo9Wui Posted November 11, 2006 Share Posted November 11, 2006 If someone over 12 years takes the cash option, what happens to their retirement? If you are vested, do you still get to collect the lesser amount once you reach retirement age, or are you giving that up the day you take the $65,000 check? Thanks, and again I know I should know this. You get to keep you’re accrued pension if you're vested in the company. BUT I doubt you will ever see a dime of it. There was talk about maybe Ford offering to buy us out of our pensions at a reduced rate, in one lump sum, which I hope happens. Hell I would pay a penalty if I could get my money. Then I could take that money and invest it myself and have a little something. But the way the company is running itself in the ground financially and IF they had to file bankruptcy and turn it over to the government like the airlines did, you would be lucky to get ½ of what you’re suppose to draw. Also something to think about is futures negations with the Union, it’s possible that retiree’s pension could be cut AGAIN or dealt completely a way. It’s happened at many other work places, it could happen to us. Quote Link to comment Share on other sites More sharing options...
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